Drive Shack Inc (NYSE:DS)’s share price hit a new 52-week high and low during trading on Thursday . The company traded as low as $7.18 and last traded at $6.91, with a volume of 21368 shares trading hands. The stock had previously closed at $7.04.
A number of equities analysts have commented on the company. Zacks Investment Research upgraded Drive Shack from a “sell” rating to a “hold” rating in a research note on Friday, May 11th. Imperial Capital lifted their target price on Drive Shack from $3.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, April 26th. Finally, ValuEngine upgraded Drive Shack from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd.
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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 company has a market cap of $467.41 million, a P/E ratio of 49.86 and a beta of 1.47.
Drive Shack (NYSE:DS) last issued its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. The business had revenue of $66.66 million during the quarter, compared to the consensus estimate of $58.55 million. Drive Shack had a positive return on equity of 10.14% and a negative net margin of 15.18%. research analysts forecast that Drive Shack Inc will post -0.14 EPS for the current fiscal year.
In other Drive Shack news, Director Wesley R. Edens acquired 400,000 shares of Drive Shack stock in a transaction dated Tuesday, May 15th. The stock was acquired at an average cost of $5.30 per share, for a total transaction of $2,120,000.00. Following the completion of the transaction, the director now owns 2,922,094 shares in the company, valued at approximately $15,487,098.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. American Assets Capital Advisers LLC boosted its position in shares of Drive Shack by 19.7% during the first quarter. American Assets Capital Advisers LLC now owns 4,402,010 shares of the real estate investment trust’s stock worth $21,041,000 after buying an additional 723,383 shares during the period. Punch & Associates Investment Management Inc. boosted its position in shares of Drive Shack by 13.9% during the first quarter. Punch & Associates Investment Management Inc. now owns 3,038,889 shares of the real estate investment trust’s stock worth $14,526,000 after buying an additional 371,280 shares during the period. BlackRock Inc. boosted its position in shares of Drive Shack by 1.7% during the first quarter. BlackRock Inc. now owns 2,966,872 shares of the real estate investment trust’s stock worth $14,181,000 after buying an additional 49,352 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Drive Shack by 11.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,996,028 shares of the real estate investment trust’s stock worth $9,541,000 after buying an additional 208,751 shares during the period. Finally, EAM Investors LLC acquired a new position in shares of Drive Shack during the fourth quarter worth approximately $2,585,000. Institutional investors and hedge funds own 50.13% of the company’s stock.
Drive Shack Company Profile
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.