Drive Shack Inc. (NYSE:DS) Director Alan L. Tyson acquired 37,760 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was acquired at an average cost of $3.76 per share, with a total value of $141,977.60. Following the acquisition, the director now directly owns 228,764 shares in the company, valued at $860,152.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Drive Shack Inc. (NYSE:DS) traded up $0.20 during trading on Friday, hitting $3.81. 269,890 shares of the stock were exchanged, compared to its average volume of 425,680. Drive Shack Inc. has a 12 month low of $2.41 and a 12 month high of $4.69. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.77 and a current ratio of 5.85. The company has a market cap of $255.13, a P/E ratio of 11.52 and a beta of 1.20.
Drive Shack (NYSE:DS) last issued its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.19. Drive Shack had a negative net margin of 12.99% and a positive return on equity of 17.68%. The company had revenue of $81.70 million during the quarter, compared to the consensus estimate of $81.50 million. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. equities analysts predict that Drive Shack Inc. will post -0.43 earnings per share for the current year.
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Several institutional investors have recently modified their holdings of DS. New York State Common Retirement Fund bought a new stake in shares of Drive Shack during the 2nd quarter worth approximately $132,000. Northeast Investment Management lifted its holdings in shares of Drive Shack by 155.0% during the 2nd quarter. Northeast Investment Management now owns 46,345 shares of the real estate investment trust’s stock worth $146,000 after acquiring 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 worth $157,000 after acquiring an additional 23,224 shares during the period. 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 worth $187,000 after acquiring an additional 57,044 shares during the period. Finally, Rhumbline Advisers bought a new stake in shares of Drive Shack during the 2nd quarter worth approximately $207,000. 41.64% of the stock is owned by institutional investors.
Separately, Zacks Investment Research raised shares of Drive Shack from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th.
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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