Drive Shack (DS) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Drive Shack (NYSE:DS) from a strong sell rating to a hold rating in a report issued on Tuesday.

According to Zacks, “Drive Shack Inc.is the owner and operator of golf-related leisure and entertainment businesses. The services offered by the company comprise Drive Shack which is engaged in developing innovative golf entertainment venues, American Golf and Real Asset related assets. Drive Shack Inc., formerly known as Newcastle Investment Corp., is based in New York. “

Separately, ValuEngine downgraded shares of Drive Shack from a strong-buy rating to a buy rating in a research report on Thursday, October 11th.

NYSE DS traded down $0.30 during mid-day trading on Tuesday, hitting $5.84. The company’s stock had a trading volume of 350,593 shares, compared to its average volume of 319,722. Drive Shack has a twelve month low of $4.04 and a twelve month high of $8.06. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 1.85. The company has a market cap of $382.36 million, a P/E ratio of 27.81 and a beta of 1.28.

Drive Shack (NYSE:DS) last posted its quarterly earnings results on Thursday, November 8th. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.08). Drive Shack had a negative net margin of 14.73% and a negative return on equity of 1.16%. The business had revenue of $87.42 million during the quarter, compared to analyst estimates of $88.23 million. Sell-side analysts predict that Drive Shack will post -0.42 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Drive Shack by 1.7% during the 1st quarter. BlackRock Inc. now owns 2,966,872 shares of the real estate investment trust’s stock valued at $14,181,000 after acquiring an additional 49,352 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Drive Shack by 189.0% during the 1st quarter. JPMorgan Chase & Co. now owns 323,680 shares of the real estate investment trust’s stock valued at $1,547,000 after acquiring an additional 211,690 shares in the last quarter. California Public Employees Retirement System lifted its stake in Drive Shack by 14.0% during the 1st quarter. California Public Employees Retirement System now owns 117,112 shares of the real estate investment trust’s stock valued at $560,000 after acquiring an additional 14,413 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Drive Shack by 11.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,996,028 shares of the real estate investment trust’s stock valued at $9,541,000 after acquiring an additional 208,751 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in Drive Shack during the 2nd quarter valued at $382,000. 56.27% of the stock is owned by institutional investors and hedge funds.

Drive Shack Company Profile

Drive Shack Inc owns and operates golf-related leisure and entertainment businesses. Its Traditional Golf Properties segment owns and operates golf properties in the United States. As of March 31, 2018, it owned, leased, or managed 74 properties in 12 states. The company's Entertainment Golf Venues segment operates an entertainment golf venue in Orlando, Florida.

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