Professional
Added to YB: 2025-01-15
Pitch date: 2025-01-12
JOE [bullish]
The St. Joe Company
+45.79%
current return
Author Info
Praetorian Capital is a hedge fund managed by Harris “Kuppy” Kupperman dedicated to seeking non-correlated, asymmetric and absolute returns. Sign up for the newsletter.
Company Info
The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in the United States.
Market Cap
$3.3B
Pitch Price
$43.09
Price Target
250.00 (+298%)
Dividend
1.12%
EV/EBITDA
17.94
P/E
31.77
EV/Sales
7.71
Sector
Real Estate Management and Development
Category
value
Praetorian Capital Portfolio Holding: The St. Joe Company
JOE: FL land developer w/ 168k acres, mainly waterfront. Strong tailwinds: airport traffic +30% since 2019. NAV est. $200-$300/share, implying $57.5k-$92.2k/acre. 10% annual NAV growth potential. Management developing land vs buybacks. Berkowitz selling pressure temporary. Undervalued at $45 vs est. NAV growth of $30/year.
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