Fairholme Fund Sells Shares of St. Joe Company
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 23 2026
0mins
Source: NASDAQ.COM
- Transaction Overview: The Fairholme Fund sold 377,800 shares of St. Joe Company between May 5 and May 7, 2026, for approximately $24.84 million, reducing its position by 2.35% to 15.7 million shares, indicating ongoing interest in the stock despite the reduction.
- Price Analysis: The weighted average sale price was $65.75 per share, while the market close on May 7, 2026, was $65.05, suggesting that the fund executed the sale at a relatively high price point, reflecting a cautious optimism about future market conditions.
- Company Fundamentals: St. Joe Company focuses on large-scale land development, hospitality, and commercial asset management in Northwest Florida, leveraging approximately 170,000 acres to drive recurring revenue across residential, hospitality, and commercial segments, highlighting its unique market position.
- Investment Outlook: Although St. Joe's business growth is not rapid, its land bank and development optionality provide significant long-term investment value in Florida, prompting investors to monitor market dynamics and consumer confidence to assess future investment opportunities.
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Analyst Views on JOE
About JOE
The St. Joe Company is a real estate development, asset management and operating company. It owns 167,000 acres of land in Northwest Florida. Its segments include residential, hospitality and commercial. The Residential Segment develops communities into homesites for sale to homebuilders and on a limited basis to retail customers. Its projects include Watersound Origins West, Watersound Camp Creek, Breakfast Point East, Titus Park, Ward Creek, and others. The Hospitality Segment owns the Watersound Beach Club; Camp Creek golf course and amenities; Shark’s Tooth golf course and tennis center; Origins golf course; and the Third golf course, as well as other club amenities that are situated in or near its residential communities. In its commercial segment, it owns the properties used in its operations and has properties under construction that shall be used in its operations, which include multifamily, senior living, self-storage, retail, office, industrial and commercial property.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Fairholme Fund Sells Shares of St. Joe Company
- Transaction Overview: The Fairholme Fund sold 377,800 shares of St. Joe Company between May 5 and May 7, 2026, for approximately $24.84 million, reducing its position by 2.35% to 15.7 million shares, indicating ongoing interest in the stock despite the reduction.
- Price Analysis: The weighted average sale price was $65.75 per share, while the market close on May 7, 2026, was $65.05, suggesting that the fund executed the sale at a relatively high price point, reflecting a cautious optimism about future market conditions.
- Company Fundamentals: St. Joe Company focuses on large-scale land development, hospitality, and commercial asset management in Northwest Florida, leveraging approximately 170,000 acres to drive recurring revenue across residential, hospitality, and commercial segments, highlighting its unique market position.
- Investment Outlook: Although St. Joe's business growth is not rapid, its land bank and development optionality provide significant long-term investment value in Florida, prompting investors to monitor market dynamics and consumer confidence to assess future investment opportunities.
See More
Fairholme Fund Sells Shares of St. Joe Company
- Transaction Overview: The Fairholme Fund sold 377,800 shares of St. Joe Company between May 5 and May 7, 2026, for approximately $24.84 million, indicating the fund's active engagement in the market.
- Ownership Change: This sale reduced the fund's direct stake by 2.35%, yet it retains about 15.7 million shares, highlighting its substantial influence and ongoing commitment to St. Joe Company.
- Historical Comparison: This transaction ranks in the upper decile among the Fairholme Fund's 35 JOE sell transactions since June 2023, with only one larger sale, reflecting the fund's sustained interest in the stock.
- Future Liquidity Potential: Despite multiple sizable sales, the Fairholme Fund holds approximately 75.5% of its June 2023 position, suggesting ongoing capacity for future liquidity events should market conditions allow.
See More
St. Joe Company Reports Q1 2026 Earnings Highlights
- Significant Revenue Growth: St. Joe Company reported Q1 2026 revenue of $99.1 million, a 5% increase year-over-year, with hospitality revenue up 13% and real estate revenue up 4%, indicating successful diversification of revenue streams.
- Net Income Decline: Despite revenue growth, net income fell 21% to $3.5 million, primarily due to decreased equity and income from joint ventures, reflecting the impact of market demand fluctuations on profitability.
- Margin Improvement: The gross margin for hospitality rose to 24% in Q1, while leasing gross margin reached 61%, compared to 18% and 55% in Q1 2025, demonstrating effective strategies in cost control and revenue structure optimization.
- Capital Allocation Strategy: The company executed $20.7 million in capital expenditures in Q1, primarily for growth, alongside $9.2 million in cash dividends and $5 million in share repurchases, indicating a commitment to long-term growth while focusing on shareholder returns.
See More
Bruce Berkowitz Reduces Stake in St. Joe Company, Stock Drops 6%
- Stake Reduction Impact: Bruce Berkowitz, a 10% owner of St. Joe Company, sold 21,100 shares for $1.52 million, causing the stock to drop 5.86% to $64.77 during afternoon trading, indicating a negative market reaction to his divestment.
- Ongoing Divestment Trend: Berkowitz has been actively reducing his stake since February, with nearly $3 million divested in March alone, reflecting a cautious outlook on the company's future and potentially impacting investor confidence.
- Shareholding Changes: Following this transaction, Berkowitz retains 16.68 million shares, maintaining his status as a major shareholder, which may help stabilize market sentiment despite the recent sell-off.
- Future Development Plans: St. Joe Company plans to break ground on two new DSAPs in 2026, anticipating a 24% revenue growth, suggesting that despite current stock volatility, the company has significant long-term growth potential.
See More
St. Joe Company Reports Strong Q4 2025 Earnings Growth
- Revenue and Net Income Growth: St. Joe Company reported a 24% year-over-year revenue increase and a 58% rise in net income for Q4 2025, marking the first time in 20 years that revenue surpassed $500 million, indicating robust market performance and profitability.
- Capital Allocation Strategy: The company allocated $18.5 million for capital expenditures, $15.1 million for stock repurchases, $9.2 million for dividends, and $8 million for debt reduction in the quarter, reflecting a balanced approach between growth and shareholder returns.
- Transition to Recurring Revenue Model: Achieving 56% recurring revenue compared to 15% two decades ago demonstrates the company's shift towards a sustainable business model, enhancing its competitive edge in the market.
- Future Development Plans: Management plans to break ground on two new DSAPs in 2026 to meet increasing residential demand while continuing to expand commercial and residential projects, ensuring future growth potential.
See More
St. Joe (JOE) Q4 2025 Earnings Call Transcript
See More
Fairholme Fund Sells Shares of St. Joe Company
- Transaction Overview: The Fairholme Fund sold 377,800 shares of St. Joe Company between May 5 and May 7, 2026, for approximately $24.84 million, reducing its position by 2.35% to 15.7 million shares, indicating ongoing interest in the stock despite the reduction.
- Price Analysis: The weighted average sale price was $65.75 per share, while the market close on May 7, 2026, was $65.05, suggesting that the fund executed the sale at a relatively high price point, reflecting a cautious optimism about future market conditions.
- Company Fundamentals: St. Joe Company focuses on large-scale land development, hospitality, and commercial asset management in Northwest Florida, leveraging approximately 170,000 acres to drive recurring revenue across residential, hospitality, and commercial segments, highlighting its unique market position.
- Investment Outlook: Although St. Joe's business growth is not rapid, its land bank and development optionality provide significant long-term investment value in Florida, prompting investors to monitor market dynamics and consumer confidence to assess future investment opportunities.
See More
Fairholme Fund Sells Shares of St. Joe Company
- Transaction Overview: The Fairholme Fund sold 377,800 shares of St. Joe Company between May 5 and May 7, 2026, for approximately $24.84 million, indicating the fund's active engagement in the market.
- Ownership Change: This sale reduced the fund's direct stake by 2.35%, yet it retains about 15.7 million shares, highlighting its substantial influence and ongoing commitment to St. Joe Company.
- Historical Comparison: This transaction ranks in the upper decile among the Fairholme Fund's 35 JOE sell transactions since June 2023, with only one larger sale, reflecting the fund's sustained interest in the stock.
- Future Liquidity Potential: Despite multiple sizable sales, the Fairholme Fund holds approximately 75.5% of its June 2023 position, suggesting ongoing capacity for future liquidity events should market conditions allow.
See More
St. Joe Company Reports Q1 2026 Earnings Highlights
- Significant Revenue Growth: St. Joe Company reported Q1 2026 revenue of $99.1 million, a 5% increase year-over-year, with hospitality revenue up 13% and real estate revenue up 4%, indicating successful diversification of revenue streams.
- Net Income Decline: Despite revenue growth, net income fell 21% to $3.5 million, primarily due to decreased equity and income from joint ventures, reflecting the impact of market demand fluctuations on profitability.
- Margin Improvement: The gross margin for hospitality rose to 24% in Q1, while leasing gross margin reached 61%, compared to 18% and 55% in Q1 2025, demonstrating effective strategies in cost control and revenue structure optimization.
- Capital Allocation Strategy: The company executed $20.7 million in capital expenditures in Q1, primarily for growth, alongside $9.2 million in cash dividends and $5 million in share repurchases, indicating a commitment to long-term growth while focusing on shareholder returns.
See More
Bruce Berkowitz Reduces Stake in St. Joe Company, Stock Drops 6%
- Stake Reduction Impact: Bruce Berkowitz, a 10% owner of St. Joe Company, sold 21,100 shares for $1.52 million, causing the stock to drop 5.86% to $64.77 during afternoon trading, indicating a negative market reaction to his divestment.
- Ongoing Divestment Trend: Berkowitz has been actively reducing his stake since February, with nearly $3 million divested in March alone, reflecting a cautious outlook on the company's future and potentially impacting investor confidence.
- Shareholding Changes: Following this transaction, Berkowitz retains 16.68 million shares, maintaining his status as a major shareholder, which may help stabilize market sentiment despite the recent sell-off.
- Future Development Plans: St. Joe Company plans to break ground on two new DSAPs in 2026, anticipating a 24% revenue growth, suggesting that despite current stock volatility, the company has significant long-term growth potential.
See More
St. Joe Company Reports Strong Q4 2025 Earnings Growth
- Revenue and Net Income Growth: St. Joe Company reported a 24% year-over-year revenue increase and a 58% rise in net income for Q4 2025, marking the first time in 20 years that revenue surpassed $500 million, indicating robust market performance and profitability.
- Capital Allocation Strategy: The company allocated $18.5 million for capital expenditures, $15.1 million for stock repurchases, $9.2 million for dividends, and $8 million for debt reduction in the quarter, reflecting a balanced approach between growth and shareholder returns.
- Transition to Recurring Revenue Model: Achieving 56% recurring revenue compared to 15% two decades ago demonstrates the company's shift towards a sustainable business model, enhancing its competitive edge in the market.
- Future Development Plans: Management plans to break ground on two new DSAPs in 2026 to meet increasing residential demand while continuing to expand commercial and residential projects, ensuring future growth potential.
See More
St. Joe (JOE) Q4 2025 Earnings Call Transcript
See More
