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Highlights
- Barclays PLC boosts its stake in St. Joe Company by 404.5%.
- Institutional interest in St. Joe continues to rise, with several firms increasing positions.
- St. Joe announces a quarterly dividend, maintaining a steady payout ratio.
Barclays PLC significantly increased its stake in St. Joe Company by 404.5% during the third quarter, reflecting growing institutional confidence in the company. This boost in shares comes as St. Joe continues to strengthen its position in the real estate and development sectors. As St. Joe Company operates within the NYSE Infra and Real Estate Stocks, it garners attention from institutional investors focused on these sectors.
Barclays PLC Expands Position in St. Joe Company (NYSE:JOE)
Barclays PLC significantly raised its position in The St. Joe Company by 404.5% during the third quarter, according to the latest Form 13F filing with the Securities and Exchange Commission (SEC). This increase adds 52,107 shares to Barclays' existing holdings, bringing its total stake in St. Joe to 64,990 shares. The firm now owns approximately 0.11% of the company, valued at $3.79 million based on its latest filing.
Institutional Investors Show Growing Interest
Alongside Barclays, other institutional investors have also increased their stakes in The St. Joe Company. Citigroup Inc. raised its holdings by 130.5%, acquiring an additional 38,243 shares. Other investors, such as Algert Global LLC and Charles Schwab Investment Management, have also expanded their positions, signaling confidence in St. Joe's potential. Together, hedge funds and institutional investors hold a substantial 86.67% of the company’s stock, reflecting strong institutional support.
St. Joe Company’s Market Position
St. Joe Company, operating primarily in real estate development and asset management in Northwest Florida, has seen steady growth in its financial performance. The company operates across three key segments: Residential, Hospitality, and Commercial. In the Residential segment, St. Joe focuses on developing communities for homebuilders and limited retail customers. This diversified approach has contributed to its consistent performance in the market.
Stock Performance and Financials
As of the latest report, St. Joe's stock opened at $44.55. Over the past year, the stock has fluctuated between a low of $43.50 and a high of $64.69. With a market capitalization of $2.6 billion, a P/E ratio of 37.75, and a beta of 1.25, St. Joe continues to attract attention from both institutional and retail stakeholders. The company’s current ratio and quick ratio are at healthy levels, demonstrating its stable financial position.
Dividend Announcement
In addition to its strong performance in the market, The St. Joe Company recently declared a quarterly dividend. Shareholders received a $0.14 dividend, payable in December. With a dividend yield of 1.26%, St. Joe’s commitment to returning value to its shareholders is clear. The company's payout ratio stands at 47.46%, suggesting that it maintains a balanced approach to capital allocation.
St. Joe’s growth in institutional support and steady financial performance demonstrates its established position in the real estate and development sector. The company’s ongoing dividends and expanding investor interest highlight its appeal in the market.
