St. Joe Company (The) (JOE) Downgraded by Zacks Investment Research to Hold

St. Joe Company (The) (NYSE:JOE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, July 13th.

According to Zacks, “Shares of St. Joe outperformed the Zacks categorized Real Estate Development industry over the past three months. Estimates have been stable lately ahead of the company’s second-quarter earnings release. The company has positive record of earnings surprises in recent quarters. Notably, the company is making strategic efforts to enhance the size of its leasing portfolio while opting to sell commercial property selectively. As part of such efforts, following first-quarter 2017, the company accomplished purchase of two office buildings in Panama City Beach, FL, aggregating more than 67,000 rentable square feet. Also, the joint venture with HomeCorp for 240 apartment units is in sync with this strategy. Further, St. Joe is aiming for growth of its resorts and leisure business. However, volatility in sales revenues at real estate and timber lines remain a concern. Also, regional business concentration increases its risks.”

Separately, BidaskClub raised shares of St. Joe Company (The) from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd.

St. Joe Company (JOE) traded down 0.26% during midday trading on Thursday, hitting $19.40. The company’s stock had a trading volume of 424,132 shares. The company has a market cap of $1.37 billion, a PE ratio of 69.53 and a beta of 0.91. St. Joe Company has a 52-week low of $16.30 and a 52-week high of $21.90. The stock has a 50 day moving average of $18.50 and a 200 day moving average of $17.57.

St. Joe Company (The) (NYSE:JOE) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.11. St. Joe Company (The) had a net margin of 23.02% and a return on equity of 3.08%. The firm had revenue of $30.40 million during the quarter. On average, equities analysts expect that St. Joe Company will post $0.03 EPS for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in St. Joe Company (The) by 3.7% in the fourth quarter. State Street Corp now owns 1,003,903 shares of the financial services provider’s stock worth $19,079,000 after buying an additional 35,409 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in St. Joe Company (The) by 15.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 11,639 shares of the financial services provider’s stock worth $221,000 after buying an additional 1,564 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in St. Joe Company (The) by 20.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 694,061 shares of the financial services provider’s stock worth $13,188,000 after buying an additional 116,453 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in St. Joe Company (The) by 47.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 15,783 shares of the financial services provider’s stock worth $299,000 after buying an additional 5,047 shares during the last quarter. Finally, Norges Bank purchased a new position in St. Joe Company (The) during the fourth quarter worth $11,902,000. 94.15% of the stock is owned by institutional investors.

About St. Joe Company (The)

The St. Joe Company is a real estate development, asset management and operating company. The Company operates through five segments: residential real estate; commercial real estate; resorts and leisure; leasing operations, and forestry. Its residential real estate segment plans and develops primary residential and resort residential communities of various sizes on its existing land.

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