The St. Joe Company NYSE:JOE was oversold yesterday and now represents value buying according to Shayne Heffernan.
The St. Joe Company NYSE:JOE closed the day at $18.97 down almost 10% on the day. Shayne Heffernan has issued a short term target of $25 however there may be a chance to buy the stock under $18.50 in the next 2 days.
The St. Joe Company (St. Joe), incorporated in 1936, is a real estate development company. The Company owns approximately 577,000 acres of land concentrated primarily in Northwest Florida. St. Joe is engaged in town and resort development, commercial and industrial development and rural land sales. It also has interests in timber. The Company operates in four segments: Residential Real Estate, Commercial Real Estate, Rural Land Sales and Forestry. On December 17, 2009, the Company sold its remaining assets of Victoria Park community in Deland, Florida, including homes, homesites, undeveloped land, notes receivable and a golf course. In December 2009, the Company sold its St. Johns Golf and Country Club. During the year ended December 31, 2009, it sold 29 acres of commercial land and 6,967 acres of rural land.
Residential Real Estate
St. Joe?s residential real estate segment plans and develops mixed-use resort, seasonal and primary residential communities of various sizes, primarily on its existing land. The Company also owns tracts of land in Northwest Florida, including tracts near Tallahassee and Panama City, and Gulf of Mexico beach frontage and other waterfront properties. Customers for its developed homesites include both individual purchasers and national, regional and local homebuilders. As of December 31, 2009, the Company?s residential development projects in Florida included WaterColor, WaterSound Beach, WaterSound West Beach, RiverCamps, WindMark Beach, SummerCamp Beach, SouthWood and RiverTown.
WaterColor is situated on approximately 499 acres on the beaches of the Gulf of Mexico in south Walton County. The community includes approximately 1,140 residential units, as well as the WaterColor Inn and Resort. WaterSound Beach is located approximately five miles east of WaterColor. WaterSound West Beach is located approximately one-half mile west of WaterSound Beach on the beach-side of County Road 30A. WaterSound is situated on approximately 2,425 acres. RiverCamps on Crooked Creek is situated on approximately 1,491 acres in western Bay County bounded by West Bay, the Intracoastal Waterway and Crooked Creek. WindMark Beach is a beachfront resort community situated on approximately 2,020 acres in Gulf County near the town of Port St. Joe. SouthWood is located on approximately 3,370 acres in southeast Tallahassee. RiverTown, situated on approximately 4,170 acres located in St. Johns County south of Jacksonville.
Commercial Real Estate
The Company?s commercial real estate segment plans, develops and sells real estate for commercial purposes. It focuses on commercial development in Northwest Florida. It provides development opportunities for national and regional retailers, as well as multi-family rental projects. The Company also offers land for commercial and light industrial uses within large and small-scale commerce parks. It also develops commercial parcels within or near existing residential development projects.
Rural Land Sales
The Company?s rural land sales segment markets and sells rural land from its holdings in Northwest Florida. It sells parcels of varying sizes ranging from a single acre or less to thousands of acres.
Forestry
The Company?s forestry segment focuses on the management and harvesting of its timber holdings. It grows, harvests and sells timber and wood fiber. Its principal forestry product is softwood pulpwood. The Company also grows and sells softwood and hardwood sawtimber. As of December 31, 2009, the Company?s standing pine inventory totaled approximately 22.3 million tons and its hardwood inventory totaled approximately 7.3 million tons. Its timberlands are harvested by local independent contractors under agreements that are renewed annually. The Company also harvests and sells additional timber to regional sawmills that produce products other than pulpwood. In addition, the Company?s forestry operation performs selective harvesting, thinning and site preparation of timberlands that may later be sold or developed by it.
Sales and Profit Figures in?US Dollar (USD)
Earnings and Dividend Figures in?US Dollar (USD)
| # of Estimates | Mean | High | Low | 1 Year Ago | |
|---|---|---|---|---|---|
| SALES (in millions) | |||||
| Quarter Ending?Sep-11 | 1 | 23.70 | 23.70 | 23.70 | 35.10 |
| Quarter Ending?Dec-11 | 1 | 26.90 | 26.90 | 26.90 | 31.30 |
| Year Ending?Dec-11 | 3 | 128.77 | 145.30 | 109.00 | 124.07 |
| Year Ending?Dec-12 | 3 | 138.90 | 161.70 | 118.00 | 136.90 |
| Earnings (per share) | |||||
| Quarter Ending?Sep-11 | 3 | -0.09 | -0.08 | -0.11 | -0.04 |
| Quarter Ending?Dec-11 | 3 | -0.08 | -0.03 | -0.10 | -0.04 |
| Year Ending?Dec-11 | 4 | -0.16 | -0.06 | -0.27 | -0.02 |
| Year Ending?Dec-12 | 4 | -0.08 | 0.04 | -0.18 | -0.18 |
| LT Growth Rate (%) | 1 | 15.00 | 15.00 | 15.00 | 9.00 |
Shayne Heffernan
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
For More Information Contact
Chutinush Taksinapinunt (ANISTA)
Business Development Director
Heffernan Capital Management
Suite 53 Athenee Tower 63 Wireless Road, Lumpini, Pathumwan, Bangkok 10330 THAILAND
Tel: +66 2 126 8045
Fax: +66 2 126 8080
Mobile: +66 8 5997 0635
Email : info@heffcap.com
New York
347 5th Avenue, Suite 1402-508 NY, NY 10016
Tel: +1 646-403-9881
Fax: +1 646-403-8014
Singapore
3 Raffles Place #07-01 Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699
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