Drive Shack (NYSE:DS) Now Covered by JMP Securities

Equities research analysts at JMP Securities initiated coverage on shares of Drive Shack (NYSE:DS) in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $8.00 price target on the real estate investment trust’s stock. JMP Securities’ price target would indicate a potential upside of 97.04% from the stock’s previous close.

Several other brokerages have also recently commented on DS. ValuEngine raised Drive Shack from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Zacks Investment Research cut Drive Shack from a “hold” rating to a “sell” rating in a research report on Monday, August 26th.

DS stock opened at $4.06 on Tuesday. The company has a debt-to-equity ratio of 7.59, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $250.70 million, a P/E ratio of -9.44 and a beta of 1.33. The business has a 50-day moving average of $4.28 and a 200-day moving average of $4.72. Drive Shack has a fifty-two week low of $3.55 and a fifty-two week high of $6.62.

Drive Shack (NYSE:DS) last issued its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.15). Drive Shack had a negative net margin of 15.99% and a negative return on equity of 62.92%. The company had revenue of $71.62 million for the quarter, compared to analyst estimates of $56.40 million. Equities analysts expect that Drive Shack will post -0.5 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of DS. American Assets Capital Advisers LLC lifted its position in shares of Drive Shack by 4.7% in the second quarter. American Assets Capital Advisers LLC now owns 5,228,512 shares of the real estate investment trust’s stock valued at $23,853,000 after buying an additional 233,788 shares during the last quarter. BlackRock Inc. lifted its position in shares of Drive Shack by 18.5% in the second quarter. BlackRock Inc. now owns 3,830,501 shares of the real estate investment trust’s stock valued at $17,967,000 after buying an additional 598,603 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Drive Shack by 1.7% in the second quarter. Vanguard Group Inc. now owns 3,000,037 shares of the real estate investment trust’s stock valued at $14,070,000 after buying an additional 50,615 shares during the last quarter. Northern Trust Corp lifted its position in shares of Drive Shack by 1.6% in the second quarter. Northern Trust Corp now owns 788,328 shares of the real estate investment trust’s stock valued at $3,697,000 after buying an additional 12,170 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Drive Shack by 10.8% in the second quarter. Janney Montgomery Scott LLC now owns 317,646 shares of the real estate investment trust’s stock valued at $1,490,000 after buying an additional 30,838 shares during the last quarter. 58.78% of the stock is owned by hedge funds and other institutional investors.

About Drive Shack

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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