Alico, Inc. (NASDAQ:ALCO) is reinventing itself as a diversified Florida land and real estate company after winding down its legacy citrus business.
The transition follows two consecutive years of roughly $30 million in annual losses caused by citrus greening disease and severe hurricane damage.
Land Value Gap
Management estimates the company's total land value between $650 million and $750 million, significantly exceeding its current market capitalization of about $300 million.
This gap suggests the stock market has not fully recognized the worth of Alico's Florida land holdings.
Key Development and Leasing Plans
The company's near-term development asset is a Collier County project with initial plans for 4,500 homes in an East Village, potentially expanding to 9,000 homes pending final approvals.
While exiting direct agricultural operations, Alico owns 46,000 acres across seven Florida counties and plans to lease 72% of this land to external citrus and non-citrus growers for steady rental income.
The company has also highlighted major conservation commitments alongside securing enough financial flexibility to continue operations through at least fiscal 2028.
