GSA Capital Partners LLP Has $709,000 Holdings in Drive Shack Inc. (DS)
GSA Capital Partners LLP boosted its stake in Drive Shack Inc. (NYSE:DS) by 358.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 224,979 shares of the real estate investment trust’s stock after purchasing an additional 175,900 shares during the quarter. GSA Capital Partners LLP owned approximately 0.34% of Drive Shack worth $709,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. American Assets Capital Advisers boosted its stake in Drive Shack by 6.2% in the 2nd quarter. American Assets Capital Advisers now owns 2,228,012 shares of the real estate investment trust’s stock worth $6,996,000 after purchasing an additional 130,585 shares during the period. Broad Run Investment Management LLC bought a new position in Drive Shack in the 1st quarter worth about $8,472,000. Boston Partners boosted its stake in Drive Shack by 20.9% in the 2nd quarter. Boston Partners now owns 1,007,793 shares of the real estate investment trust’s stock worth $3,175,000 after purchasing an additional 174,199 shares during the period. JPMorgan Chase & Co. boosted its stake in Drive Shack by 144.6% in the 1st quarter. JPMorgan Chase & Co. now owns 636,802 shares of the real estate investment trust’s stock worth $2,643,000 after purchasing an additional 376,440 shares during the period. Finally, Morgan Stanley boosted its stake in Drive Shack by 11.2% in the 1st quarter. Morgan Stanley now owns 622,885 shares of the real estate investment trust’s stock worth $2,585,000 after purchasing an additional 62,947 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.
Drive Shack Inc. (NYSE DS) opened at 3.71 on Friday. Drive Shack Inc. has a 52 week low of $2.41 and a 52 week high of $4.69. The company’s market cap is $248.32 million. The firm has a 50-day moving average price of $2.95 and a 200 day moving average price of $3.33.
Drive Shack (NYSE:DS) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.15. Drive Shack had a positive return on equity of 25.92% and a negative net margin of 7.05%. The business had revenue of $81.36 million during the quarter, compared to analyst estimates of $84.48 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. Drive Shack’s revenue for the quarter was down 3.7% on a year-over-year basis. Analysts expect that Drive Shack Inc. will post $0.32 EPS for the current fiscal year.
Separately, Zacks Investment Research upgraded Drive Shack from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th.
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About Drive Shack
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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