Drive Shack Inc (DS) Position Lowered by Boston Partners

Share on StockTwits

Boston Partners decreased its stake in Drive Shack Inc (NYSE:DS) by 32.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 525,153 shares of the real estate investment trust’s stock after selling 250,723 shares during the quarter. Boston Partners’ holdings in Drive Shack were worth $4,054,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. bought a new position in shares of Drive Shack during the 2nd quarter valued at about $193,000. Essex Investment Management Co. LLC bought a new position in shares of Drive Shack during the 2nd quarter valued at about $382,000. EAM Global Investors LLC bought a new position in shares of Drive Shack during the 1st quarter valued at about $911,000. Commonwealth Equity Services LLC bought a new position in shares of Drive Shack during the 1st quarter valued at about $428,000. Finally, Punch & Associates Investment Management Inc. boosted its position in shares of Drive Shack by 13.9% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 3,038,889 shares of the real estate investment trust’s stock valued at $14,526,000 after purchasing an additional 371,280 shares in the last quarter. Hedge funds and other institutional investors own 49.75% of the company’s stock.

NYSE:DS opened at $5.86 on Monday. The company has a debt-to-equity ratio of 1.85, a current ratio of 3.13 and a quick ratio of 3.13. Drive Shack Inc has a twelve month low of $2.41 and a twelve month high of $8.06. The stock has a market cap of $403.12 million, a PE ratio of 27.90 and a beta of 1.33.

Drive Shack (NYSE:DS) last posted its quarterly earnings data on Friday, August 3rd. The real estate investment trust reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $91.00 million for the quarter, compared to analysts’ expectations of $80.55 million. equities research analysts expect that Drive Shack Inc will post -0.14 earnings per share for the current year.

Several research firms have recently weighed in on DS. Zacks Investment Research upgraded shares of Drive Shack from a “sell” rating to a “hold” rating in a research report on Friday, May 11th. Imperial Capital raised their price objective on shares of Drive Shack from $3.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, April 26th. Finally, ValuEngine upgraded shares of Drive Shack from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd.

Drive Shack Profile

Newcastle Investment Corp. operates as a real estate investment trust (REIT) in the United States. The company invests in and manages real estate related and other investments, including senior housing properties; debt investments financed with collateralized debt obligations; other debt investments; and investments in golf courses and facilities.

See Also: Technical Analysis

Want to see what other hedge funds are holding DS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Drive Shack Inc (NYSE:DS).

Institutional Ownership by Quarter for Drive Shack (NYSE:DS)

Receive News & Ratings for Drive Shack Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Drive Shack and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply