Vivaldi Asset Management LLC bought a new position in shares of Drive Shack Inc (NYSE:DS) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 889,804 shares of the real estate investment trust’s stock, valued at approximately $3,212,000. Vivaldi Asset Management LLC owned approximately 1.33% of Drive Shack at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Assets Capital Advisers boosted its position in shares of Drive Shack by 38.3% in the 3rd quarter. American Assets Capital Advisers now owns 3,080,831 shares of the real estate investment trust’s stock valued at $11,122,000 after purchasing an additional 852,819 shares during the period. Broad Run Investment Management LLC raised its stake in shares of Drive Shack by 42.1% during the 2nd quarter. Broad Run Investment Management LLC now owns 2,900,050 shares of the real estate investment trust’s stock worth $9,135,000 after buying an additional 858,570 shares in the last quarter. Punch & Associates Investment Management Inc. raised its stake in shares of Drive Shack by 2.2% during the 2nd quarter. Punch & Associates Investment Management Inc. now owns 2,466,122 shares of the real estate investment trust’s stock worth $7,768,000 after buying an additional 53,175 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Drive Shack by 54.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,322,922 shares of the real estate investment trust’s stock worth $4,776,000 after buying an additional 465,043 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Drive Shack by 18.2% during the 3rd quarter. Boston Partners now owns 1,190,934 shares of the real estate investment trust’s stock worth $4,299,000 after buying an additional 183,141 shares in the last quarter. 43.73% of the stock is owned by hedge funds and other institutional investors.
Drive Shack Inc (NYSE:DS) traded down $0.07 on Friday, hitting $5.83. The stock had a trading volume of 488,348 shares, compared to its average volume of 968,676. The company has a market capitalization of $390.40, a PE ratio of 17.67 and a beta of 1.62. The company has a debt-to-equity ratio of 1.25, a quick ratio of 5.85 and a current ratio of 5.85. Drive Shack Inc has a 52 week low of $2.41 and a 52 week high of $6.49.
Drive Shack (NYSE:DS) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.19. Drive Shack had a positive return on equity of 17.68% and a negative net margin of 12.99%. The company had revenue of $81.70 million for the quarter, compared to analysts’ expectations of $81.50 million. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. equities analysts forecast that Drive Shack Inc will post -0.41 earnings per share for the current fiscal year.
Separately, Zacks Investment Research upgraded Drive Shack from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Tuesday, October 24th.
In other news, Director Alan L. Tyson acquired 37,760 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were purchased at an average cost of $3.76 per share, with a total value of $141,977.60. Following the completion of the purchase, the director now owns 228,764 shares of the company’s stock, valued at $860,152.64. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Wesley R. Edens acquired 482,697 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were purchased at an average cost of $6.00 per share, for a total transaction of $2,896,182.00. Following the completion of the purchase, the director now directly owns 2,737,094 shares of the company’s stock, valued at approximately $16,422,564. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 1,512,909 shares of company stock worth $7,046,519. 7.20% of the stock is currently owned by corporate insiders.
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Drive Shack Company Profile
Drive Shack Inc, formerly Newcastle Investment Corp., is a leisure company. The Company is an owner and operator of golf-related leisure and entertainment businesses. The Company’s portfolio consists of Drive Shack, which is engaged in developing nationwide network of golf entertainment venues; American Golf Corporation, which is a golf course company, and real estate-related assets.
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