Scopus Asset Management L.P. bought a new position in shares of Drive Shack Inc. (NYSE:DS) during the 1st quarter, HoldingsChannel.com reports. The fund bought 2,250,000 shares of the real estate investment trust’s stock, valued at approximately $7,223,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. increased its stake in Drive Shack by 27.6% during the 1st quarter. BlackRock Inc. now owns 1,888,238 shares of the real estate investment trust’s stock worth $6,061,000 after buying an additional 408,755 shares during the period. Russell Investments Group Ltd. grew its holdings in Drive Shack by 51.5% during the 1st quarter. Russell Investments Group Ltd. now owns 1,247,951 shares of the real estate investment trust’s stock worth $4,003,000 after acquiring an additional 424,305 shares in the last quarter. Morgan Stanley grew its holdings in Drive Shack by 279.8% during the 1st quarter. Morgan Stanley now owns 960,401 shares of the real estate investment trust’s stock worth $3,083,000 after acquiring an additional 707,563 shares in the last quarter. Royce & Associates LP acquired a new position in Drive Shack during the 1st quarter worth approximately $2,309,000. Finally, Penn Capital Management Co. Inc. acquired a new position in Drive Shack during the 1st quarter worth approximately $2,083,000. 40.77% of the stock is currently owned by hedge funds and other institutional investors.
DS has been the subject of several research analyst reports. Craig Hallum initiated coverage on shares of Drive Shack in a report on Friday, March 26th. They issued a “buy” rating and a $5.00 target price for the company. BTIG Research restated a “buy” rating and issued a $5.00 target price on shares of Drive Shack in a report on Wednesday, July 14th. Five analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $4.65.
Drive Shack (NYSE:DS) last announced its quarterly earnings data on Friday, May 7th. The real estate investment trust reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.01). The business had revenue of $61.09 million for the quarter.
About Drive Shack
Drive Shack Inc owns and operates golf-related leisure and entertainment venue business. It operates through Entertainment Golf Venues and Traditional Golf Properties segments. The Entertainment Golf Venues segment operates entertainment golf venues in Raleigh, North Carolina; Richmond, Virginia; and Orlando and West Palm Beach, Florida.
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