St. Joe is a positive money company with net money on its balance sheet and almost certain long-term exponential expansion going forward.
Northwest Florida’s genuine real estate market is on fire and is reaping the benefits of an ongoing mass exodus from other people from the north to sunny, tax-abiding States of Florida.
Core business earnings have increased tenfold in the last 3 years and through 2021, despite everything, this expansion will result in a GAAP earnings expansion and an expansion of the net source of earnings of more than 100% .
Either way, there is still an unexplained short position of 6. 2 million against the company, which is more than forty-five times the average trading volume.
The combination of a large profit expansion and a large unjustified short position will lead to St. Louis shares. Joe to eclipse the historical highs of over $80 consistent with the stock.
In May 2018, we published a detailed and profound rebuttal of what we thought: a short, unfounded attack on The St. Joe Company (NYSE: JOE) through Kerrisdale Capital. Since the publication of our report, the movements of St. reported just over 25%. However, looking in our report, it turns out that we were not positive enough about St. ‘s business prospects. St. Joe and the strength of The Bay/Walton Genuine Real Estate Market. Northwest Florida’s genuine real estate market is on fire and we remain surprised at how much we underestimate JOE’s genuine real estate application in 2018.
What we wrote in our 2018 report:
Residential land development:
By 2025, we expect St. Joe to be able to deliver residential masses from the six locations discussed above, and we believe that at this stage, and taking into account the expansion of the region, the corporate will be able to deliver between 500 and 750 masses consistent with the year they generated between $25 million and $37. 5 million in a source of annual pre-tax revenue only through the sale of residential masses. “
What happened:
In 2019, San José sold 390 residential estates (93% more than in 2018), resulting in $ 41. 5 million in residential lot sales and $ 21. 2 million in sector profits. San Jose lately has 867 masses under contract and has publicly stated that it plans to sell more than 1,000 masses / houses in 2021, resulting in a minimum of $ 45 million in residential progression income in 2021.
The hotel and hotel business gradually reopened in May, with business activity expanding until the end of the quarter and until July. The table under the main points of hospitality revenue for the time quarter of 2020 and 2019 consistent with the month. % in April 2020 compared to April 2019. Following the reopening of inconsistent operations, Revenues in June 2020 exceeded June 2019 revenue by approximately 19%.
Jorge Gonzales, CEO of St. Joe, on the effect of Covid-19 on the company’s operations:
As we navigate the uncertainty caused by the pandemic, we are seeing a positive boost in all operational segments during this quarter. In June, we sold 89 residential sets to five developers and retail customers, adding initial sales in the 3 new residential communities in Bay. County, this dynamic also occurs in our advertising and hotel segments. In the quarter of this time, we signed 8 new advertising leases, which raised the total of the year to 14. We sold 67 new The Clubs through JOE memberships in the quarter of a time, which brought the total to 77 for the full year. Pier Park Crossings’ network, which was completed in January, is rented 100 percent. Our hotels, closed in April, gradually opened in May. When reopening, the occupancy rate and daily rates rose above the summer seasonal levels. The drive-to facet of our hotel market is one of the reasons for the strong recovery. “
Mr. González continued:
Projects under structure are already operational. The TownePlace Suites near Pier Park opened in May and their initial occupancy exceeded our expectations. We’re also seeing more shoppers in our residential communities, more consumers at our hotels, and new club members from major urban markets and other parts of the United States than we’ve ever noticed before. Families across the country are beginning to realize what we’ve known, that Northwest Florida offers a fair quality of life and is a wonderful position to live, paint or play. “