Read here for a discussion of Alico (ALCO) stock's transition to land development, with potential for significant enterprise value and long-term growth.

Pointing to Florida’s decades-long fight with deadly citrus greening disease and damage from hurricanes, a major grower Monday announced it will “wind down” citrus operations and focus on more-profitable uses of its land.

Alico Inc. announced Monday that it planned to wind down its citrus operations after the current crop is harvested later this year. About 3,400 citrus acres (1,376 hectares) will be managed by third-party caretakers for another season through 2026.

Orange groves owned by Alico have been at the heart of Florida's citrus industry for 100 years, but production has declined by over 70% over the past 10 years.