Drive Shack Inc (NYSE:DS) Receives Average Recommendation of “Strong Buy” from Brokerages

Shares of Drive Shack Inc (NYSE:DS) have received an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.

Brokers have set a twelve-month consensus target price of $7.50 for the company, according to Zacks. Zacks has also assigned Drive Shack an industry rank of 205 out of 255 based on the ratings given to related companies.

A number of brokerages have recently commented on DS. JMP Securities started coverage on Drive Shack in a research report on Tuesday, October 15th. They issued an “outperform” rating and a $8.00 price target on the stock. ValuEngine raised Drive Shack from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Finally, Zacks Investment Research upgraded Drive Shack from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 22nd.

Shares of NYSE:DS traded up $0.01 during midday trading on Friday, reaching $4.11. The company’s stock had a trading volume of 7,167 shares, compared to its average volume of 342,596. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 11.93. The firm has a 50 day moving average of $3.77 and a 200-day moving average of $4.31. The firm has a market capitalization of $272.26 million, a P/E ratio of -9.57 and a beta of 1.47. Drive Shack has a 12-month low of $3.55 and a 12-month high of $5.62.

Drive Shack (NYSE:DS) last posted its quarterly earnings data on Monday, November 11th. The real estate investment trust reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.06). The business had revenue of $74.68 million for the quarter, compared to the consensus estimate of $59.05 million. Drive Shack had a negative return on equity of 87.07% and a negative net margin of 15.99%.

In other news, Director Research Corp Acacia purchased 91,600 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average price of $4.10 per share, for a total transaction of $375,560.00. Following the purchase, the director now directly owns 91,600 shares in the company, valued at approximately $375,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 10.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can boosted its stake in Drive Shack by 95.4% in the 2nd quarter. Bank of Montreal Can now owns 10,523 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 5,138 shares in the last quarter. Eaton Vance Management purchased a new position in Drive Shack in the 2nd quarter worth about $392,000. California Public Employees Retirement System raised its position in Drive Shack by 5.7% in the 3rd quarter. California Public Employees Retirement System now owns 93,799 shares of the real estate investment trust’s stock worth $404,000 after buying an additional 5,100 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in Drive Shack during the 3rd quarter valued at about $576,000. Finally, Janney Montgomery Scott LLC lifted its stake in Drive Shack by 32.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 421,361 shares of the real estate investment trust’s stock valued at $1,816,000 after acquiring an additional 103,715 shares during the period. Institutional investors own 62.94% of the company’s stock.

Drive Shack Company Profile

Drive Shack Inc owns and operates golf-related leisure and entertainment businesses. Its Entertainment Golf Venues segment operates an entertainment golf venue in Orlando, Florida. This segment also focuses on opening a chain of dining and entertainment golf venues in the United States and internationally, which combine golf, competition, dining, and fun.

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