Scopus Asset Management L.P. bought a new position in Drive Shack Inc. (NYSE:DS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,250,000 shares of the real estate investment trust’s stock, valued at approximately $7,223,000. Scopus Asset Management L.P. owned approximately 2.44% of Drive Shack as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Royce & Associates LP purchased a new position in shares of Drive Shack in the first quarter worth $2,309,000. Blueshift Asset Management LLC purchased a new position in shares of Drive Shack in the first quarter worth $192,000. Credit Suisse AG purchased a new position in shares of Drive Shack in the fourth quarter worth $44,000. Axiom Investment Management LLC purchased a new stake in Drive Shack during the first quarter valued at $101,000. Finally, Virtu Financial LLC raised its stake in Drive Shack by 187.6% during the fourth quarter. Virtu Financial LLC now owns 156,718 shares of the real estate investment trust’s stock valued at $373,000 after purchasing an additional 102,235 shares in the last quarter. 40.77% of the stock is currently owned by hedge funds and other institutional investors.
DS has been the topic of a number of recent research reports. BTIG Research reaffirmed a “buy” rating and set a $5.00 price target on shares of Drive Shack in a research note on Wednesday, July 14th. Craig Hallum initiated coverage on shares of Drive Shack in a research note on Friday, March 26th. They set a “buy” rating and a $5.00 price target on the stock. Five analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $4.65.
Drive Shack (NYSE:DS) last posted its quarterly earnings results on Friday, May 7th. The real estate investment trust reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.01). The firm had revenue of $61.09 million for the quarter.
Drive Shack Company Profile
Drive Shack Inc owns and operates golf-related leisure and entertainment venue business. It operates through Entertainment Golf Venues and Traditional Golf Properties segments. The Entertainment Golf Venues segment operates entertainment golf venues in Raleigh, North Carolina; Richmond, Virginia; and Orlando and West Palm Beach, Florida.
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