On March 20, 2014, we issued an updated research report on
The St. Joe Company
BROOKFIELD RES (BRP): Get Free Report
ST JOE CO (JOE): Free Stock Analysis Report
LGI HOMES INC (LGIH): Free Stock Analysis
ALTISOURCE RESI (RESI): Free Stock Analysis
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On Feb 27, St. Joe reported its fourth-quarter and full-year 2013
results. The company broke even in fourth-quarter 2013 compared
to the Zacks Consensus Estimate of a loss of a cent per share.
The results, however, included a non-cash impairment charge of
$5.1 million. The company had incurred a loss of 9 cents in the
Fourth-quarter results were driven by a rise in revenues, which
shot up 50.0% to $33.9 million. The revenue figure also surpassed
the Zacks Consensus Estimate of $25.0 million.
Recently, St. Joe reaped $562 million (including $200 million as
a timber note) by selling around 380,000 acres of its
non-strategic timberland and rural land in Northwest Florida to
AgReserves Inc.'s subsidiaries.
The move is a strategic fit for St. Joe and provides the company
substantial liquidity, which it can deploy for development
needs. St. Joe is currently focused on enhancing resort
operations, development of the port at Port St. Joe as well as
the active adult residential market, which would help it ride on
the growth trajectory going forward.
Over the last 30 days, the Zacks Consensus Estimate for 2014
remained flat at 2 cents while that for 2015 climbed up by 4
cents to 11 cents. Consequently, the stock currently has a Zacks
Rank #1 (Strong Buy).
Stocks That Warrant a Look
Investors interested in the real estate development industry may
consider stocks like
Altisource Residential Corporation
Brookfield Residential Properties Inc.
LGI Homes, Inc.
). While Altisource Residential and Brookfield Residential carry
a Zacks Rank #1, LGI Homes has a Zacks Rank #2 (Buy).