Drive Shack (DS) Announces Earnings Results, Misses Estimates By $0.08 EPS

Drive Shack (NYSE:DS) issued its quarterly earnings data on Thursday. The real estate investment trust reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.08), Morningstar.com reports. The business had revenue of $87.42 million during the quarter, compared to the consensus estimate of $88.23 million. Drive Shack had a negative return on equity of 1.16% and a negative net margin of 14.73%.

Shares of DS stock traded down $0.30 during trading hours on Friday, reaching $5.84. 350,593 shares of the company’s stock were exchanged, compared to its average volume of 319,722. The company has a market cap of $382.36 million, a PE ratio of 27.81 and a beta of 1.28. 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 fifty-two week low of $4.04 and a fifty-two week high of $8.06.

Several hedge funds have recently modified their holdings of DS. Dakota Wealth Management acquired a new position in shares of Drive Shack during the second quarter worth $154,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Drive Shack during the second quarter worth $193,000. Macquarie Group Ltd. acquired a new position in shares of Drive Shack during the second quarter worth $212,000. MetLife Investment Advisors LLC increased its position in shares of 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 purchasing an additional 20,448 shares in the last quarter. Finally, Spark Investment Management LLC acquired a new position in shares of Drive Shack during the second quarter worth $233,000. 56.27% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently commented on DS shares. Zacks Investment Research downgraded shares of Drive Shack from a “hold” rating to a “strong sell” rating in a research note on Friday, September 7th. ValuEngine downgraded shares of Drive Shack from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 11th.

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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.

Further Reading: Price to Earnings Ratio (PE) Basics

Earnings History for Drive Shack (NYSE:DS)

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