State of Alaska Department of Revenue trimmed its position in shares of St. Joe Company (The) (NYSE:JOE – Free Report) by 46.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,790 shares of the financial services provider’s stock after selling 7,607 shares during the period. State of Alaska Department of Revenue’s holdings in St. Joe were worth $577,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. First Citizens Bank & Trust Co. purchased a new stake in shares of St. Joe during the 3rd quarter worth about $331,000. GAMMA Investing LLC lifted its holdings in shares of St. Joe by 15.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,537 shares of the financial services provider’s stock valued at $167,000 after buying an additional 344 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of St. Joe by 203.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,880 shares of the financial services provider’s stock valued at $189,000 after buying an additional 1,930 shares during the last quarter. Rye Brook Capital LLC grew its stake in shares of St. Joe by 0.9% in the 3rd quarter. Rye Brook Capital LLC now owns 69,195 shares of the financial services provider’s stock valued at $4,552,000 after buying an additional 610 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in shares of St. Joe by 85.6% in the 2nd quarter. Tidal Investments LLC now owns 7,196 shares of the financial services provider’s stock valued at $451,000 after buying an additional 3,318 shares in the last quarter. 86.67% of the stock is currently owned by hedge funds and other institutional investors.
St. Joe Stock Down 2.7%
JOE stock opened at $67.56 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.71. St. Joe Company has a 1 year low of $48.81 and a 1 year high of $73.54. The company has a fifty day simple moving average of $66.43 and a 200 day simple moving average of $65.32. The firm has a market cap of $3.85 billion, a PE ratio of 31.57 and a beta of 1.28.
St. Joe (NYSE:JOE – Get Free Report) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $0.71 EPS for the quarter. St. Joe had a net margin of 22.45% and a return on equity of 15.90%. The firm had revenue of $158.86 million for the quarter.
St. Joe Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, August 21st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, August 21st. St. Joe’s dividend payout ratio is 29.91%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised shares of St. Joe from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat.com, the company presently has an average rating of “Buy”.
Key Stories Impacting St. Joe
Here are the key news stories impacting St. Joe this week:
- Positive Sentiment: An investor letter from Praetorian Capital described St. Joe (JOE) as positioned to benefit from continued population migration to its markets and inflation, which could support demand for its real estate, hospitality and residential assets. However, this is an outside investment thesis rather than new company guidance or operating data. The St. Joe Is Positioned to Benefit from Population Migration and Inflation
- Neutral Sentiment: The St. Joe Company announced key leadership appointments. The move may help support execution and strategic continuity, but the available report does not identify major changes to strategy, financial forecasts or capital allocation. The St. Joe Company Announces Key Leadership Appointments
About St. Joe
The St. Joe Company (NYSE: JOE) is a real estate development and asset management company focused primarily on Northwest Florida. The company plans, develops and manages residential, commercial and hospitality properties, with activities concentrated in the communities and coastal markets surrounding Panama City and Destin.
St. Joe’s residential business includes the development of master-planned communities and residential neighborhoods, while its commercial activities include office, retail, medical and industrial properties.
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