Drive Shack Inc. (NYSE:DS) has been assigned an average broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.
Analysts have set a 12-month consensus target price of $3.00 for the company and are predicting that the company will post ($0.07) EPS for the current quarter, according to Zacks. Zacks has also assigned Drive Shack an industry rank of 113 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research raised Drive Shack from a “hold” rating to a “strong-buy” rating and set a $4.50 target price on the stock in a report on Monday, November 6th.
Shares of Drive Shack (NYSE DS) traded up $0.42 during trading on Thursday, hitting $6.17. The stock had a trading volume of 2,024,865 shares, compared to its average volume of 565,265. Drive Shack has a fifty-two week low of $2.41 and a fifty-two week high of $6.18. The stock has a market capitalization of $413.17, a P/E ratio of 15.58 and a beta of 1.20. The company has a quick ratio of 5.85, a current ratio of 5.85 and a debt-to-equity ratio of 1.25.
Drive Shack (NYSE:DS) last announced its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.19. Drive Shack had a positive return on equity of 17.68% and a negative net margin of 12.99%. The business had revenue of $81.70 million for the quarter, compared to the consensus estimate of $81.50 million. The firm’s revenue was down 1.8% compared to the same quarter last year. analysts forecast that Drive Shack will post -0.41 earnings per share for the current year.
In other news, Director Wesley R. Edens purchased 561,317 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was purchased at an average price of $4.09 per share, for a total transaction of $2,295,786.53. Following the completion of the acquisition, the director now owns 1,816,729 shares of the company’s stock, valued at $7,430,421.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wesley R. Edens purchased 398,895 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average price of $3.97 per share, with a total value of $1,583,613.15. Following the acquisition, the director now directly owns 1,611,510 shares of the company’s stock, valued at approximately $6,397,694.70. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,030,212 shares of company stock worth $4,150,337. Insiders own 7.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of DS. New York State Common Retirement Fund purchased a new stake in Drive Shack during the second quarter worth $132,000. Mackenzie Financial Corp lifted its holdings in Drive Shack by 68.6% during the third quarter. Mackenzie Financial Corp now owns 38,060 shares of the real estate investment trust’s stock worth $137,000 after buying an additional 15,488 shares during the period. Northeast Investment Management lifted its holdings in Drive Shack by 155.0% during the second quarter. Northeast Investment Management now owns 46,345 shares of the real estate investment trust’s stock worth $146,000 after buying an additional 28,170 shares during the period. Nationwide Fund Advisors lifted its holdings in shares of Drive Shack by 114.1% during the 3rd quarter. Nationwide Fund Advisors now owns 43,582 shares of the real estate investment trust’s stock valued at $157,000 after purchasing an additional 23,224 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Drive Shack by 2,622.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 59,219 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 57,044 shares during the last quarter. Institutional investors own 43.88% of the company’s stock.
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About Drive Shack
Drive Shack Inc, formerly Newcastle Investment Corp., is a leisure company. The Company is an owner and operator of golf-related leisure and entertainment businesses. The Company’s portfolio consists of Drive Shack, which is engaged in developing nationwide network of golf entertainment venues; American Golf Corporation, which is a golf course company, and real estate-related assets.
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