St. Joe (NYSE:JOE) Sets New 1-Year High – Here’s Why

St. Joe Company (The) (NYSE:JOE) shares reached a new 52-week high on Monday. The stock traded as high as $74.36 and last traded at $73.4150, with a volume of 75,361 shares traded. The stock had previously closed at $69.97.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of St. Joe from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

St. Joe Stock Performance

The business has a 50-day moving average of $66.85 and a 200-day moving average of $66.23. The company has a market capitalization of $4.10 billion, a P/E ratio of 34.25 and a beta of 1.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.88 and a quick ratio of 1.88.

St. Joe (NYSE:JOE) last issued its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $0.65 EPS for the quarter. The company had revenue of $156.19 million for the quarter. St. Joe had a net margin of 22.32% and a return on equity of 15.66%.

St. Joe Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Thursday, November 12th will be issued a $0.18 dividend. The ex-dividend date is Thursday, November 12th. This is a boost from St. Joe’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. St. Joe’s dividend payout ratio (DPR) is currently 30.19%.

Institutional Investors Weigh In On St. Joe

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE purchased a new stake in St. Joe in the second quarter worth about $11,797,000. The Manufacturers Life Insurance Company purchased a new stake in shares of St. Joe during the 2nd quarter valued at $1,329,000. BlackRock Inc. acquired a new stake in St. Joe in the second quarter worth about $385,050,000. Berkley W R Corp purchased a new stake in St. Joe during the 2nd quarter worth approximately $13,124,000. Finally, Jupiter Topco LLC purchased a new stake in St. Joe during the 2nd quarter valued at about $1,140,000. 86.67% of the stock is owned by institutional investors.

About St. Joe

The St. Joe Company is a real estate development and operating company focused primarily on Northwest Florida. Its activities include planning and developing residential communities, selling land and homesites, and owning and operating commercial properties. The company also operates hospitality businesses, including hotels, golf courses, marinas and other leisure-oriented amenities. Its commercial portfolio includes properties that generate income through leasing, serving businesses and residents in the region.