The St. Joe Company (JOE) has become a compelling long-term investment story in Florida, owning 167,000 acres of land near the Gulf Coast. Under new leadership, JOE shifted to a diversified real estate developer model, with 2% of land generating 63% of revenues. With a 50-year growth runway and strong moat, JOE offers a unique investment opportunity.

Howard Hughes Holdings Inc. (HHH) was previously covered with a bullish thesis, focusing on master-planned communities and undervaluation. Stock price remains flat as the thesis unfolds. Maksim shares a similar view but emphasizes The St. Joe Company’s recurring-revenue flywheel model.

Read more at Yahoo Finance: The St. Joe Company (JOE): A Bull Case Theory