St. Joe has long been a favorite of many value investors including Marty Whitman. The company owns 700,000 acres in the state of Florida -- with 310,000 acres within 10 miles of the Gulf Coast.
This week's Barron's has a bullish piece on St. Joe. The stock price has fallen in half since 2005. But Barron's suggests this is a good time to get in, believing Florida's real estate market to pick up in the next year or so.
Another positive view of St. Joe is found on Clyde Milton's Cheap Stocks blog. Clyde has owned the stock previously, but doesn't now. He says he'd like to see it fall a bit more before getting in.
I've never owned St. Joe, and don't know anything about it compared to Clyde. Yet one of the things I find interesting about his blog is his theme of finding undervalued real estate assets in value stocks. So if you're a value player and real estate plays appeal to you, keep an eye on Clyde's moves with St. Joe in particular and his blog in general.
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