Drive Shack Inc. (NYSE:DS) is set to announce its earnings results before the market opens on Wednesday, November 1st. Analysts expect the company to announce earnings of ($0.06) per share for the quarter.

Drive Shack (NYSE:DS) last issued its quarterly 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. The firm had revenue of $81.36 million for the quarter, compared to the consensus estimate of $84.48 million. Drive Shack had a negative net margin of 7.05% and a positive return on equity of 25.92%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 EPS. On average, analysts expect Drive Shack to post $-0.43 EPS for the current fiscal year and $-0.06 EPS for the next fiscal year.

Drive Shack Inc. (NYSE:DS) traded down 1.233% during mid-day trading on Tuesday, hitting $3.605. 140,015 shares of the stock traded hands. The company has a 50-day moving average of $3.45 and a 200 day moving average of $3.27. Drive Shack Inc. has a 1-year low of $2.41 and a 1-year high of $4.69. The firm’s market capitalization is $241.29 million.

Separately, Zacks Investment Research lowered Drive Shack from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its holdings in Drive Shack by 2,622.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 59,219 shares of the real estate investment trust’s stock worth $187,000 after buying an additional 57,044 shares in the last quarter. California State Teachers Retirement System bought a new stake in Drive Shack in the 2nd quarter worth about $347,000. Finally, State Street Corp increased its holdings 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 worth $2,335,000 after buying an additional 639,566 shares in the last quarter. Institutional investors own 41.64% of the company’s stock.

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.

Earnings History for Drive Shack (NYSE:DS)

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