Drive Shack Inc (NYSE:DS) Receives Average Recommendation of “Strong Buy” from Brokerages

Shares of Drive Shack Inc (NYSE:DS) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Analysts have set a 12-month consensus target price of $7.00 for the company and are anticipating that the company will post ($0.06) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Drive Shack an industry rank of 175 out of 256 based on the ratings given to its competitors.

Several research analysts have recently weighed in on DS shares. Imperial Capital upgraded shares of Drive Shack from an “in-line” rating to an “outperform” rating and upped their price target for the company from $5.00 to $7.00 in a report on Monday, March 18th. ValuEngine cut shares of Drive Shack from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Finally, Zacks Investment Research raised shares of Drive Shack from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a research report on Wednesday, March 20th.

Several hedge funds have recently made changes to their positions in the company. Punch & Associates Investment Management Inc. lifted its position in shares of Drive Shack by 1.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 2,922,614 shares of the real estate investment trust’s stock worth $13,123,000 after purchasing an additional 32,071 shares in the last quarter. American Assets Capital Advisers LLC lifted its position in shares of Drive Shack by 15.8% in the first quarter. American Assets Capital Advisers LLC now owns 4,994,724 shares of the real estate investment trust’s stock worth $22,427,000 after purchasing an additional 680,724 shares in the last quarter. SG Americas Securities LLC bought a new stake in Drive Shack during the first quarter worth $50,000. Deutsche Bank AG raised its position in Drive Shack by 40.1% during the fourth quarter. Deutsche Bank AG now owns 185,498 shares of the real estate investment trust’s stock worth $725,000 after acquiring an additional 53,060 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Drive Shack by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,094,754 shares of the real estate investment trust’s stock worth $8,212,000 after acquiring an additional 22,896 shares in the last quarter. 57.42% of the stock is currently owned by institutional investors and hedge funds.

Shares of Drive Shack stock traded up $0.03 on Friday, hitting $4.69. The company had a trading volume of 475,373 shares, compared to its average volume of 147,302. The company has a market capitalization of $314.37 million, a price-to-earnings ratio of -10.91 and a beta of 1.35. Drive Shack has a twelve month low of $3.55 and a twelve month high of $8.03. The company has a debt-to-equity ratio of 5.39, a current ratio of 2.94 and a quick ratio of 2.94. The company has a 50-day simple moving average of $4.77.

Drive Shack (NYSE:DS) last released its quarterly earnings results on Friday, May 10th. The real estate investment trust reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.02). The company had revenue of $53.95 million during the quarter, compared to analyst estimates of $55.13 million. Drive Shack had a negative net margin of 12.26% and a negative return on equity of 39.60%. As a group, equities analysts predict that Drive Shack will post -0.28 EPS for the current fiscal year.

Drive Shack Company Profile

Drive Shack Inc owns and operates golf-related leisure and entertainment businesses. Its Entertainment Golf Venues segment operates an entertainment golf venue in Orlando, Florida. This segment also focuses on opening a chain of dining and entertainment golf venues in the United States and internationally, which combine golf, competition, dining, and fun.

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