Thu, May 7, 5:36 PM
Thu, Feb. 26, 6:05 PM
Mon, Jan. 26, 7:48 PM
- The SEC opened an investigation more than four years ago into St. Joe's (NYSE:JOE) accounting practices surrounding impaired property assets, and one week ago the company received a "Wells Notice" from the agency, suggesting it's leaning towards filing a formal charge.
- All allegations are related to company actions taken prior to the 2011 replacement of the board, the CEO, and the CFO.
- Source: SEC Form 8-K
- Shares -9.1% after hours
Mon, Jan. 26, 5:36 PM
Nov. 6, 2014, 5:43 PM
Sep. 19, 2014, 9:24 AM
Aug. 19, 2014, 10:24 AM| Comment!
Aug. 14, 2014, 10:01 AM
Aug. 7, 2014, 5:22 PM
May 8, 2014, 5:39 PM
May 8, 2014, 4:39 PM
- The St. Joe Company (JOE) is up 4.3% after-hours following the reporting of whopping Q1 net income of $403M or $4.37 per share (vs. market cap of 1.8B and stock price of $19.66). Behind the windfall was the sale of 380K acres of "non-strategic" timberlands for about $562M, from which the company recorded a $511.1M pretax gain.
- Source: Press Release
- Kudos to SA Pro's Money Investor who one week ago urged readers to get into JOE ahead of what was sure to be the "shock and awe" moment of the earnings release. With the after-hours gain, the stock is up nearly 15% since the article was published.
Feb. 27, 2014, 5:04 PM
Feb. 11, 2014, 9:10 AM
- Zigging while many are zagging, Raymond James downgrades Lennar (LEN) and KB Home (KBH) after lower rates and strong Q4 earnings reports had given a lift to the homebuilding sector. Lennar is still rated an Outperform, but no longer a Strong Buy. KB Home is cut to Underperform from Market Perform.
- In maybe somewhat-related moves, RayJay cuts St. Joe (JOE) and apartment operator Post Properties (PPS) to Market Perform from Outperform.
- LEN -0.6%, KBH -1.5%, JOE -1% premarket
- In another homebuilder downgrade, JMP Securities takes Tri Pointe Homes (TPH) to Market Perform from Outperform.
Nov. 21, 2013, 3:04 PM
- The shares are worth about $7, says Einhorn, speaking to CNBC after presenting at an investor conference. It's not a business, he says. Instead it's a pool of land being liquidated over time.
- EInhorn has questioned and presumably been short St. Joe (JOE -2.4%) for several years.
Nov. 7, 2013, 1:04 PM
Nov. 7, 2013, 10:48 AM
- The St. Joe Company (JOE +12.7%) soars after agreeing to sell about 382K acres of Florida timberland for $565M that had been carried on company books for just $54M. Total revenue last quarter was $36.8M.
- CEO Park Brady: "The proceeds from the sale will provide the company with significant liquidity and numerous opportunities to create long-term value for our shareholders."
- Q3 earnings from last night.
JOE vs. ETF Alternatives
The St. Joe Co is a real estate development and operating company. The Company operates residential real estate, commercial real estate, resorts, leisure and leasing operations and forestry between Tallahassee and Destin, Florida.
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