Drive Shack (DS) Reaches New 1-Year High and Low at $7.18

Drive Shack Inc (NYSE:DS)’s share price reached a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $7.18 and last traded at $6.91, with a volume of 21368 shares. The stock had previously closed at $7.04.

A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Drive Shack from a “sell” rating to a “hold” rating in a report on Friday, May 11th. ValuEngine raised Drive Shack from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Finally, Imperial Capital raised their price target on Drive Shack from $3.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, April 26th.

The company has a debt-to-equity ratio of 1.74, a current ratio of 4.32 and a quick ratio of 4.32. The firm has a market capitalization of $433.92 million, a PE ratio of 33.00 and a beta of 1.47.

Drive Shack (NYSE:DS) last released its quarterly earnings results on Thursday, May 3rd. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.02. Drive Shack had a positive return on equity of 10.14% and a negative net margin of 15.18%. The firm had revenue of $66.66 million for the quarter, compared to analyst estimates of $58.55 million. analysts anticipate that Drive Shack Inc will post -0.14 earnings per share for the current fiscal year.

In other Drive Shack news, Director Wesley R. Edens acquired 400,000 shares of the stock in a transaction on Tuesday, May 15th. The shares were bought at an average price of $5.30 per share, with a total value of $2,120,000.00. Following the acquisition, the director now owns 2,922,094 shares of the company’s stock, valued at $15,487,098.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in DS. MetLife Investment Advisors LLC purchased a new stake in Drive Shack in the 4th quarter valued at approximately $169,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Drive Shack during the 4th quarter worth approximately $174,000. Two Sigma Investments LP purchased a new stake in shares of Drive Shack during the 4th quarter worth approximately $203,000. Virtu Financial LLC purchased a new stake in shares of Drive Shack during the 4th quarter worth approximately $395,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Drive Shack during the 1st quarter worth approximately $428,000. 50.13% of the stock is currently owned by institutional investors.

About Drive Shack

Newcastle Investment Corp. operates as a real estate investment trust (REIT) in the United States. The company invests in and manages real estate related and other investments, including senior housing properties; debt investments financed with collateralized debt obligations; other debt investments; and investments in golf courses and facilities.

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