Bank of New York Mellon Corp cut its holdings in Drive Shack Inc (NYSE:DS) by 9.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 220,836 shares of the real estate investment trust’s stock after selling 22,962 shares during the quarter. Bank of New York Mellon Corp owned about 0.33% of Drive Shack worth $1,705,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its stake in Drive Shack by 1.7% in the first quarter. BlackRock Inc. now owns 2,966,872 shares of the real estate investment trust’s stock valued at $14,181,000 after acquiring an additional 49,352 shares during the last quarter. California Public Employees Retirement System lifted its stake in Drive Shack by 14.0% in the first quarter. California Public Employees Retirement System now owns 117,112 shares of the real estate investment trust’s stock valued at $560,000 after acquiring an additional 14,413 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Drive Shack by 189.0% in the first quarter. JPMorgan Chase & Co. now owns 323,680 shares of the real estate investment trust’s stock valued at $1,547,000 after acquiring an additional 211,690 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in Drive Shack in the second quarter valued at approximately $193,000. Finally, Prudential Financial Inc. acquired a new stake in Drive Shack in the first quarter valued at approximately $524,000. Hedge funds and other institutional investors own 56.55% of the company’s stock.
A number of analysts have issued reports on DS shares. ValuEngine cut shares of Drive Shack from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research cut shares of Drive Shack from a “hold” rating to a “strong sell” rating in a research note on Friday, September 7th.
NYSE:DS opened at $5.05 on Friday. Drive Shack Inc has a 12 month low of $3.54 and a 12 month high of $8.06. The company has a market capitalization of $399.10 million, a PE ratio of 24.24 and a beta of 1.26. The company has a debt-to-equity ratio of 1.85, a quick ratio of 3.13 and a current ratio of 3.13.
Drive Shack (NYSE:DS) last released its quarterly earnings results on Friday, August 3rd. The real estate investment trust reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.13). Drive Shack had a negative net margin of 14.73% and a negative return on equity of 1.16%. The firm had revenue of $91.00 million during the quarter, compared to the consensus estimate of $80.55 million. Analysts predict that Drive Shack Inc will post -0.42 earnings per share for the current fiscal year.
Drive Shack Profile
Drive Shack Inc owns and operates golf-related leisure and entertainment businesses. Its Traditional Golf Properties segment owns and operates golf properties in the United States. As of March 31, 2018, it owned, leased, or managed 74 properties in 12 states. The company's Entertainment Golf Venues segment operates an entertainment golf venue in Orlando, Florida.
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