Drive Shack Inc. (NYSE:DS) – Investment analysts at Imperial Capital lifted their Q3 2017 earnings per share estimates for Drive Shack in a research report issued to clients and investors on Thursday. Imperial Capital analyst G. Kelly now forecasts that the real estate investment trust will post earnings of ($0.06) per share for the quarter, up from their previous forecast of ($0.07). Imperial Capital also issued estimates for Drive Shack’s Q4 2017 earnings at ($0.07) EPS, FY2017 earnings at ($0.43) EPS and FY2018 earnings at ($0.06) EPS.

Separately, Zacks Investment Research downgraded Drive Shack from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th.

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Drive Shack (NYSE:DS) opened at 2.79 on Monday. Drive Shack has a 12 month low of $2.75 and a 12 month high of $4.75. The company’s market cap is $186.58 million. The company’s 50-day moving average is $3.09 and its 200-day moving average is $3.75.

Drive Shack (NYSE:DS) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.15. Drive Shack had a negative net margin of 7.05% and a positive return on equity of 25.92%. The business had revenue of $81.36 million for the quarter, compared to analyst estimates of $84.48 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Drive Shack’s revenue was down 3.7% compared to the same quarter last year.

In other Drive Shack news, Director Alan L. Tyson purchased 100,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was acquired at an average price of $3.81 per share, with a total value of $381,000.00. Following the acquisition, the director now directly owns 175,069 shares of the company’s stock, valued at approximately $667,012.89. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 7.20% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new stake in shares of Drive Shack during the first quarter valued at about $118,000. Independent Advisor Alliance acquired a new stake in shares of Drive Shack during the first quarter valued at about $142,000. Northeast Investment Management increased its stake in shares of Drive Shack by 155.0% in the second quarter. Northeast Investment Management now owns 46,345 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 28,170 shares during the period. First Trust Advisors LP acquired a new stake in shares of Drive Shack during the first quarter valued at about $210,000. Finally, Levin Capital Strategies L.P. increased its stake in shares of Drive Shack by 11.8% in the first quarter. Levin Capital Strategies L.P. now owns 57,620 shares of the real estate investment trust’s stock valued at $239,000 after buying an additional 6,102 shares during the period. 38.58% of the stock is owned by institutional investors and hedge funds.

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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