ValuEngine Downgrades Drive Shack (DS) to Buy

Drive Shack (NYSE:DS) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

Separately, Zacks Investment Research downgraded shares of Drive Shack from a “hold” rating to a “strong sell” rating in a report on Friday, September 7th.

DS stock opened at $5.05 on Thursday. The firm has a market capitalization of $399.10 million, a PE ratio of 24.05 and a beta of 1.26. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 1.85. Drive Shack has a 12 month low of $3.54 and a 12 month high of $8.06.

Drive Shack (NYSE:DS) last released its quarterly earnings data on Friday, August 3rd. The real estate investment trust reported ($0.09) EPS for the quarter, missing the 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 business had revenue of $91.00 million during the quarter, compared to analysts’ expectations of $80.55 million. On average, research analysts expect that Drive Shack will post -0.42 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dakota Wealth Management purchased a new stake in Drive Shack during the second quarter worth $154,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Drive Shack during the second quarter worth $193,000. Macquarie Group Ltd. purchased a new stake in Drive Shack during the second quarter worth $212,000. MetLife Investment Advisors LLC boosted its holdings in Drive Shack by 234.1% during the second quarter. MetLife Investment Advisors LLC now owns 29,184 shares of the real estate investment trust’s stock worth $225,000 after buying an additional 20,448 shares in the last quarter. Finally, Spark Investment Management LLC purchased a new stake in Drive Shack during the second quarter worth $233,000. 56.55% of the stock is currently owned by hedge funds and other institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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