The St. Joe Company (NYSE: JOE) is a Florida-based diversified real estate development and asset management company that develops, sells, and leases residential, hospitality, and commercial properties. Revenue comes from homesite sales primarily to homebuilders, membership fees and operating income from hospitality assets including hotels, clubs, and vacation rentals, and lease income from commercial properties across multi-family, senior living, self-storage, medical, office, retail, and industrial uses. The company also manages timber holdings and sells developed and undeveloped land through its commercial segment. St. Joe was incorporated in Florida in 1936 and concentrates its operations in Northwest Florida. Its three reporting segments are residential, hospitality, and commercial, giving it exposure across the full real estate value chain from raw land through developed income-producing assets.

Revenue model

Transactional revenue from homesite and land sales to homebuilders and retail buyers; recurring revenue from hotel operations, Watersound Club memberships, food and beverage, gulf-front vacation rentals, marinas, and retail outlets; lease income from commercial properties including multi-family, senior living, self-storage, medical, office, and industrial assets; and timber management income.

Products and services

Residential homesites sold to homebuilders and retail customers; Latitude Margaritaville Watersound active adult residential community (approximately 3,700-home development via unconsolidated joint venture); Watersound Club membership offering golf, beach club, and recreational amenities; portfolio of hotels ranging from luxury boutique to branded properties; food and beverage operations; gulf-front vacation rentals; marinas; retail outlets; commercial leased properties including multi-family, senior living, self-storage, mixed-use, medical, office, retail, and industrial; timber holdings; developed and undeveloped land sales.

Customers and end markets

Primary homesite customers are homebuilders, with limited direct retail homebuyer sales. Hospitality customers include club members, hotel guests, vacation rental guests, and marina users. Commercial tenants span multi-family residents, senior living operators, self-storage users, medical tenants, office and retail tenants, and industrial users. End markets are residential real estate, active adult housing, hospitality and leisure, and commercial real estate.

Value-chain role

Vertically integrated real estate developer and asset manager operating across land acquisition, entitlement, development, sales, and ongoing asset ownership and management in Northwest Florida.

Geographic exposure

Operations concentrated in Northwest Florida, as described in the 10-K filed 2026-02-25.

Source: SEC 10-K, filed 2026-02-25

Industry: Land Subdividers & Developers (No Cemeteries) Peers: BBX Capital Inc Comstock Holding Companies Inc Five Point Holdings LLC RMR Group Inc Tejon Ranch Co