Drive Shack Inc. (NYSE:DS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $4.25 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target points to a potential upside of 14.56% from the stock’s current price.

According to Zacks, “Drive Shack Inc.is the owner and operator of golf-related leisure and entertainment businesses. The services offered by the company comprise Drive Shack which is engaged in developing innovative golf entertainment venues, American Golf and Real Asset related assets. Drive Shack Inc., formerly known as Newcastle Investment Corp., is based in New York. “

Shares of Drive Shack (NYSE DS) traded up 0.54% during trading on Tuesday, hitting $3.71. The stock had a trading volume of 176,914 shares. Drive Shack has a 1-year low of $2.41 and a 1-year high of $4.69. The company’s market capitalization is $248.32 million. The firm has a 50 day moving average of $3.17 and a 200 day moving average of $3.30.

Drive Shack (NYSE:DS) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.15. The company had revenue of $81.36 million for the quarter, compared to analyst estimates of $84.48 million. Drive Shack had a positive return on equity of 25.92% and a negative net margin of 7.05%. Drive Shack’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. Analysts expect that Drive Shack will post $0.32 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Broad Run Investment Management LLC raised its position in Drive Shack by 42.1% in the 2nd quarter. Broad Run Investment Management LLC now owns 2,900,050 shares of the real estate investment trust’s stock valued at $9,135,000 after buying an additional 858,570 shares during the last quarter. State Street Corp raised its position in Drive Shack by 626.6% in the 2nd quarter. State Street Corp now owns 741,630 shares of the real estate investment trust’s stock valued at $2,335,000 after buying an additional 639,566 shares during the last quarter. Northern Trust Corp raised its position in Drive Shack by 253.2% in the 2nd quarter. Northern Trust Corp now owns 790,062 shares of the real estate investment trust’s stock valued at $2,488,000 after buying an additional 566,369 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Drive Shack in the 1st quarter valued at approximately $1,941,000. Finally, Marshall Wace North America L.P. acquired a new stake in Drive Shack in the 2nd quarter valued at approximately $1,140,000. 41.78% of the stock is currently owned by institutional investors.

Drive Shack Company Profile

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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