Drive Shack (NYSE:DS) posted its earnings results on Thursday. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.20), MarketWatch Earnings reports. Drive Shack had a negative return on equity of 21.30% and a negative net margin of 18.78%. The firm had revenue of $69.29 million for the quarter.
Shares of DS traded up $0.01 during mid-day trading on Friday, reaching $4.55. The company had a trading volume of 155,945 shares, compared to its average volume of 179,404. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 2.19. Drive Shack has a 52 week low of $3.55 and a 52 week high of $8.06. The stock has a market cap of $305.64 million, a P/E ratio of 21.67 and a beta of 1.30.
Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC lifted its holdings in shares of 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 buying an additional 2,296,773 shares during the period. BlackRock Inc. increased its stake in shares of Drive Shack by 2.6% in the 4th quarter. BlackRock Inc. now owns 3,409,679 shares of the real estate investment trust’s stock worth $13,365,000 after purchasing an additional 87,769 shares in the last quarter. Vanguard Group Inc increased its stake in shares of Drive Shack by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 2,701,315 shares of the real estate investment trust’s stock worth $16,100,000 after purchasing an additional 23,876 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Drive Shack by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,701,315 shares of the real estate investment trust’s stock worth $16,100,000 after purchasing an additional 23,876 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Drive Shack by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,094,754 shares of the real estate investment trust’s stock worth $8,212,000 after purchasing an additional 22,896 shares in the last quarter. 57.09% of the stock is currently owned by hedge funds and other institutional investors.
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About Drive Shack
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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