The St. Joe Company (NYSE:JOE)
A real estate development company which is engaged in town and resort development and operations, commercial and industrial development and rural land sales.
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Who wants to live in the Panhandle of Florida? It's cold and red-neck.
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Owns a huge amount of land in the Florida panhandle. They are more than a builder, rather a land developer and should expect to leverage their land position into cash flow.
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St. Joe.. builder largely based in Florida. Appears to be a slam dunk for financial difficulties as the housing bust gets underway. Geographically un-diversified, and could be in real trouble come '07 or '08.
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JOE will survive the real estate bust and continue as a long-term growth story. Its vast amount of Florida real estate should allow it a permanent place in diversified portfolios. JOE will prosper for as long as retirees care to live in warm climates in close proximity to beaches and rivers,
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JOE looking better...out of residential market..for now
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The housing market in Florida will take time to recover and JOE will suffer.
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Long term gainer, short term loser. Florida real estate is dead in the water for a while until the excess is wrung out of it.
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Real estate market is bad in Florida.
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St. Joe owns most of the land near the Gulf in the Florida panhandle. The land is carried at purchase price NOT current market price. Stock has been beaten down due to last year's hurricanes. They're not making any more land to develop. This is like owning all your raw materials.
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Situated for population increase in Fla and potential industrial growth in northen part of state
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