We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
St. Joe Plans to Develop Residential Community in Callaway
Read MoreHide Full Article
The St. Joe Company (JOE - Free Report) is undertaking every effort to expand business strategically and has announced plan to develop a new residential community — Park Place — in Callaway, FL.
Management stated that “With the need for housing in Bay County following Hurricane Michael” they believe that “this is the right time to accelerate this project.” There are plans for more than 300 homesites on around 165 acres of land.
Moreover, St. Joe announced the execution of a letter of intent to sell the first 51 homesites in the Park Place community to Truland Homes. Alabama-based homebuilder, Truland Homes, plans to construct and sell single family homes, which are likely to be completed in 2020. Notably, homesite development is planned for completion later in 2019.
Earlier in May, the company announced the construction of a new building at VentureCrossings Enterprise Center in Panama City. Presently under construction, the building will offer nearly 60,000 square feet of rentable light industrial flex space.
The property’s proximity to the Northwest Florida Beaches International Airport and easy access to Interstate 10 is likely to attract tenants who are seeking to operate in Northwest Florida. Notably, the tenants will join GKN Aerospace, which is an independent first-tier supplier to the aviation industry, at VentureCrossings.
The building is expected to be ready for tenants in late 2019. Previously, St. Joe disclosed plans to construct and operate a new hotel in the VentureCrossings area. Construction on the hotel is likely to begin in late 2019.
Notably, St. Joe is undertaking strategic moves to enhance portfolio of income-producing properties and focus on recurring operating-income opportunities. This is likely to create long-term value for shareholders. Further, the company owns land concentrated mainly in Northwest Florida and has substantial residential as well as commercial land-use entitlements in hand or in process, which bode well.
Additionally, non-strategic asset sale will provide the company with substantial liquidity, which can be deployed for developmental needs. Nonetheless, inconsistent revenue performance in many segments and regional business concentration are concerns.
Some better-ranked stocks from the real estate space are The Howard Hughes Corp. , HFF Inc. (HF - Free Report) and CBRE Group Inc. (CBRE - Free Report) . While Howard Hughes and HFF currently sport a Zacks Rank of 1, CBRE Group has a Zacks Rank of 2 (Buy).
Howard Hughes’ earnings per share (EPS) estimates for 2019 have been revised to $2.66 from $1.11 in the past 30 days.
CBRE Group’s EPS estimates for 2019 have been revised 1.12% upward to $3.61 in 30 days’ time.
HFF’s Zacks Consensus Estimate for 2019 EPS has moved up 9.8% to $3.03 in the past month.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
St. Joe Plans to Develop Residential Community in Callaway
The St. Joe Company (JOE - Free Report) is undertaking every effort to expand business strategically and has announced plan to develop a new residential community — Park Place — in Callaway, FL.
Management stated that “With the need for housing in Bay County following Hurricane Michael” they believe that “this is the right time to accelerate this project.” There are plans for more than 300 homesites on around 165 acres of land.
Moreover, St. Joe announced the execution of a letter of intent to sell the first 51 homesites in the Park Place community to Truland Homes. Alabama-based homebuilder, Truland Homes, plans to construct and sell single family homes, which are likely to be completed in 2020. Notably, homesite development is planned for completion later in 2019.
Earlier in May, the company announced the construction of a new building at VentureCrossings Enterprise Center in Panama City. Presently under construction, the building will offer nearly 60,000 square feet of rentable light industrial flex space.
The property’s proximity to the Northwest Florida Beaches International Airport and easy access to Interstate 10 is likely to attract tenants who are seeking to operate in Northwest Florida. Notably, the tenants will join GKN Aerospace, which is an independent first-tier supplier to the aviation industry, at VentureCrossings.
The building is expected to be ready for tenants in late 2019. Previously, St. Joe disclosed plans to construct and operate a new hotel in the VentureCrossings area. Construction on the hotel is likely to begin in late 2019.
Notably, St. Joe is undertaking strategic moves to enhance portfolio of income-producing properties and focus on recurring operating-income opportunities. This is likely to create long-term value for shareholders. Further, the company owns land concentrated mainly in Northwest Florida and has substantial residential as well as commercial land-use entitlements in hand or in process, which bode well.
Additionally, non-strategic asset sale will provide the company with substantial liquidity, which can be deployed for developmental needs. Nonetheless, inconsistent revenue performance in many segments and regional business concentration are concerns.
St. Joe currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stocks to Consider
Some better-ranked stocks from the real estate space are The Howard Hughes Corp. , HFF Inc. (HF - Free Report) and CBRE Group Inc. (CBRE - Free Report) . While Howard Hughes and HFF currently sport a Zacks Rank of 1, CBRE Group has a Zacks Rank of 2 (Buy).
Howard Hughes’ earnings per share (EPS) estimates for 2019 have been revised to $2.66 from $1.11 in the past 30 days.
CBRE Group’s EPS estimates for 2019 have been revised 1.12% upward to $3.61 in 30 days’ time.
HFF’s Zacks Consensus Estimate for 2019 EPS has moved up 9.8% to $3.03 in the past month.