Drive Shack (NYSE:DS) Announces Quarterly Earnings Results

Drive Shack (NYSE:DS) released its earnings results on Tuesday. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.15), Morningstar.com reports. The company had revenue of $71.62 million for the quarter, compared to analysts’ expectations of $56.40 million. Drive Shack had a negative return on equity of 39.60% and a negative net margin of 12.26%.

NYSE:DS traded down $0.12 during trading hours on Wednesday, hitting $4.66. 289,406 shares of the company were exchanged, compared to its average volume of 215,901. The stock has a market cap of $308.34 million, a PE ratio of -10.84 and a beta of 1.31. Drive Shack has a 52-week low of $3.55 and a 52-week high of $6.62. 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’s 50 day moving average is $4.82.

A number of large investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Drive Shack by 29.6% during the 4th quarter. FMR LLC now owns 10,054,065 shares of the real estate investment trust’s stock valued at $39,412,000 after acquiring an additional 2,296,773 shares during the period. Dimensional Fund Advisors LP lifted its stake in Drive Shack by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,094,754 shares of the real estate investment trust’s stock valued at $8,212,000 after acquiring an additional 22,896 shares during the period. American Assets Capital Advisers LLC lifted its stake in Drive Shack by 15.8% during the 1st quarter. American Assets Capital Advisers LLC now owns 4,994,724 shares of the real estate investment trust’s stock valued at $22,427,000 after acquiring an additional 680,724 shares during the period. Geode Capital Management LLC lifted its stake in Drive Shack by 6.4% during the 4th quarter. Geode Capital Management LLC now owns 600,991 shares of the real estate investment trust’s stock valued at $2,355,000 after acquiring an additional 36,136 shares during the period. Finally, BlackRock Inc. lifted its stake in Drive Shack by 2.6% during the 4th quarter. BlackRock Inc. now owns 3,409,679 shares of the real estate investment trust’s stock valued at $13,365,000 after acquiring an additional 87,769 shares during the period. 57.84% of the stock is currently owned by institutional investors.

DS has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of Drive Shack from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. ValuEngine downgraded shares of Drive Shack from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.

About Drive Shack

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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Earnings History for Drive Shack (NYSE:DS)

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