Sahm Adrangi's Kerrisdale Capital Issues Negative Report on The St. Joe Company and Announces Conference Call Schedule

PRNewswire

Apr 24, 2018

- St. Joe's land holdings are overhyped and worth a fraction of the company's market valuation, under even the most aggressive development assumptions

- St. Joe's largest shareholder, the Fairholme Fund, is subject to new SEC liquidity rules that will require it to meaningfully reduce its stake, raising risk of forced selling

- Optimism over St. Joe's capital budget is misplaced. Despite years of delay, the Bay-Walton Sector Plan remains stalled and recurring revenue from commercial development is immaterial

PR Newswire

NEW YORK, April 24, 2018

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