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Holly LaFon
Holly LaFon
Articles (9487)  | Author's Website |

Bruce Berkowitz Comments on St. Joe

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February 04, 2019 | About:
St. Joe (NYSE:JOE) is a complex story about unique lands and operations in Northwest Florida. The company has a strong balance sheet, low expenses, and the ability to profit for decades with real estate surrounding the Gulf of Mexico, US Intracoastal Waterways, and Northwest Florida Beaches International Airport.

There is growing demand for houses, apartments, limited and full-service hotels, clubs and resorts, and office space for work, life, and play in what Forbes calls “The Hamptons of The South.1” St. Joe initiated a record number of projects for 4,600 homes and 490 hotel rooms while buying back common stock with excess liquidity last year. Depending on scope, projects may take between eighteen and thirty-six months to show profits.

From Bruce Berkowitz (Trades, Portfolio)'s Fairholme Capital Management fourth-quarter 2018 shareholder letter.

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Holly LaFon
I'm a financial journalist with a Master of Science in journalism from Medill at Northwestern University.

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