The St. Joe Co. is a real estate development company, which engages in commercial real estate developments, resorts, leisure and leasing operations. It operates through the following segments: Residential Real Estate, Commercial Real Estate, Resorts and Leisure, and Leasing Operations, and Forestry. The Residential Real Estate segment plans and develops mixed-use resort, primary and seasonal residential communities of various sizes, primarily on its existing land. The Commercial Real Estate segment is involved in planning, development, management, and sale of real estate, including commercial operating property for commercial purposes. The Resorts and Leisure segment includes a portfolio of hotels and vacation rentals, as well as golf courses, beach clubs, marinas, and other resort amenities. The Leasing Operations segment generates revenue from leasing retail and commercial properties. The Forestry segment engages in the production and sale of wood fiber, saw timber, and other forest