Drive Shack Inc. (DS) Reaches New 1-Year Low at $2.72
Drive Shack Inc. (NYSE:DS)’s share price reached a new 52-week low on Wednesday . The company traded as low as $2.72 and last traded at $2.73, with a volume of 335,893 shares. The stock had previously closed at $2.79.
Separately, Zacks Investment Research upgraded Drive Shack from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th.
The company’s market capitalization is $181.56 million. The firm has a 50-day moving average price of $3.06 and a 200-day moving average price of $3.73.
Drive Shack (NYSE:DS) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.15. Drive Shack had a positive return on equity of 25.92% and a negative net margin of 7.05%. The business had revenue of $81.36 million for the quarter, compared to analyst estimates of $84.48 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. Drive Shack’s revenue was down 3.7% on a year-over-year basis. On average, equities analysts forecast that Drive Shack Inc. will post $0.32 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC bought a new stake in Drive Shack during the fourth quarter valued at about $6,675,000. Renaissance Technologies LLC bought a new stake in Drive Shack during the fourth quarter valued at about $3,505,000. Advisory Services Network LLC bought a new stake in Drive Shack during the first quarter valued at about $118,000. First Trust Advisors LP bought a new stake in Drive Shack during the first quarter valued at about $210,000. Finally, Boston Partners bought a new stake in Drive Shack during the first quarter valued at about $3,459,000. Institutional investors and hedge funds own 38.58% 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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