Drive Shack (NYSE:DS) Coverage Initiated at JMP Securities

JMP Securities assumed coverage on shares of Drive Shack (NYSE:DS) in a research report report published on Tuesday, October 15th, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $8.00 price target on the real estate investment trust’s stock.

A number of other equities analysts have also recently commented on the company. ValuEngine raised Drive Shack from a hold rating to a buy rating in a report on Tuesday, October 1st. Zacks Investment Research cut Drive Shack from a hold rating to a sell rating in a report on Monday, August 26th.

Drive Shack stock traded down $0.16 during trading on Tuesday, reaching $3.96. The company had a trading volume of 416,856 shares, compared to its average volume of 251,043. Drive Shack has a 52 week low of $3.55 and a 52 week high of $6.12. The firm’s 50-day simple moving average is $4.11 and its 200 day simple moving average is $4.65. The firm has a market capitalization of $275.49 million, a price-to-earnings ratio of -9.21 and a beta of 1.33. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 7.59.

Hedge funds have recently modified their holdings of the business. Bank of Montreal Can increased its stake in Drive Shack by 95.4% in the 2nd quarter. Bank of Montreal Can now owns 10,523 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 5,138 shares in the last quarter. Angeles Investment Advisors LLC purchased a new position in shares of Drive Shack during the second quarter valued at about $94,000. WINTON GROUP Ltd grew its position in shares of Drive Shack by 9.8% during the second quarter. WINTON GROUP Ltd now owns 35,727 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 3,179 shares in the last quarter. Eaton Vance Management purchased a new position in shares of Drive Shack during the second quarter valued at about $392,000. Finally, California Public Employees Retirement System grew its position in shares of Drive Shack by 5.7% during the third quarter. California Public Employees Retirement System now owns 93,799 shares of the real estate investment trust’s stock valued at $404,000 after purchasing an additional 5,100 shares in the last quarter. Institutional investors and hedge funds own 59.10% of the company’s stock.

Drive Shack Company Profile

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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