St. Joe Co. loses $13 million in three months

St. Joe Co. is the largest non-government land owner in Northwest Florida. It has been a political powerhouse, reinventing itself and Walton and Bay counties. The News Herald reports that the company officials announced late Thursday a net loss of $13.3 million for the second quarter of 2011–despite reducing operating and corporate expenses by $15 million, St. Joe. Co.

The company’s stock, JOE, closed at $16.38 a share, a drop of 6 percent from the previous day’s closing. In the past 52 weeks, JOE stock traded at a high of $30.34 a share and a low of $16.32 a share.

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