Shares of Drive Shack Inc. (NYSE:DS) hit a new 52-week low during trading on Tuesday . The stock traded as low as $2.59 and last traded at $2.58, with a volume of 306,808 shares trading hands. The stock had previously closed at $2.64.

Separately, Zacks Investment Research downgraded Drive Shack from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th.

The company’s 50 day moving average is $3.00 and its 200 day moving average is $3.66. The stock’s market capitalization is $173.35 million.

Drive Shack (NYSE:DS) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.15. The business had revenue of $81.36 million for the quarter, compared to analysts’ expectations of $84.48 million. Drive Shack had a negative net margin of 7.05% and a positive return on equity of 25.92%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. Analysts anticipate that Drive Shack Inc. will post $0.32 earnings per share for the current year.

Large investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of Drive Shack during the first quarter worth $118,000. New York State Common Retirement Fund acquired a new stake in shares of Drive Shack during the second quarter worth $132,000. Independent Advisor Alliance acquired a new stake in shares of Drive Shack during the first quarter worth $142,000. Northeast Investment Management boosted its stake in shares of Drive Shack by 155.0% in 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. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Drive Shack by 2,622.7% in the second quarter. The Manufacturers Life Insurance Company now owns 59,219 shares of the real estate investment trust’s stock worth $187,000 after buying an additional 57,044 shares during the period. Institutional investors and hedge funds own 40.13% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This news story was reported by Watch List News and is owned by of Watch List News. If you are viewing this news story on another domain, it was copied illegally and republished in violation of international copyright and trademark legislation. The legal version of this news story can be read at https://www.watchlistnews.com/drive-shack-inc-ds-hits-new-52-week-low-at-2-59/1491586.html.

Drive Shack Company Profile

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.

Receive News & Ratings for Drive Shack Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Drive Shack Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.