Should You be Confident in St. Joe Company (JOE)?

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Soumya Eswaran

Wed, Apr 2, 2025, 8:57 AM 3 min read

River Road Asset Management, an concern absorption institution released its “River Road Mid Cap Value Fund” Q4 2024 capitalist letter. A transcript of the missive tin beryllium downloaded here. In the 4th quarter, AMG River Road Small Cap Value Fund (Class N) returned 2.97% compared to -1.75% returns for the Russell MidCap Value Index. For the twelvemonth 2024, the money returned 13.56%, compared to Index instrumentality of 13.07%. Stocks rallied successful November aft a Republican triumph but declined sharply pursuing hawkish Fed comments. Shorter duration stocks, including tiny caps and value, mislaid astir of their post-election gains by the extremity of December. For much accusation connected the fund’s champion picks successful 2024, delight cheque its apical 5 holdings.

In its 4th fourth 2024 capitalist letter, River Road Mid Cap Value Fund emphasized stocks specified arsenic The St. Joe Company (NYSE:JOE). The St. Joe Company (NYSE:JOE) is simply a existent property development, plus management, and operating company. The one-month instrumentality of The St. Joe Company (NYSE:JOE) was -0.98%, and its shares mislaid 19.06% of their worth implicit the past 52 weeks. On April 1, 2025, The St. Joe Company (NYSE:JOE) banal closed astatine $46.55 per stock with a marketplace capitalization of $2.715 billion.

River Road Mid Cap Value Fund stated the pursuing regarding The St. Joe Company (NYSE:JOE) successful its Q4 2024 capitalist letter:

"Another mediocre performer was The St. Joe Company (NYSE:JOE), the largest backstage landowner successful Florida with 171,000 acres successful Northwest Florida with ineligible rights to make implicit 170,000 residential units successful Florida’s Bay County and Walton County (the sixth-fastest increasing region successful the U.S.). JOE operates independently of Wall Street, with nary sell-side sum owed to its unsocial concern exemplary of dilatory and dependable onshore improvement that defies precise modeling. The company’s semipermanent maturation strategy capitalizes connected retiring Baby Boomers migrating to Florida, driving some gross and nett maturation astatine charismatic rates. The company’s strategy involves converting highly invaluable onshore (recorded astatine 1936 prices connected the equilibrium sheet) into recurring currency flows done assorted commercialized existent property developments including hotels, apartments, retail, and amusement assets.

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