Northern Trust Corp Buys 28,650 Shares of Drive Shack Inc (DS)

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Northern Trust Corp raised its stake in shares of Drive Shack Inc (NYSE:DS) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 754,275 shares of the real estate investment trust’s stock after purchasing an additional 28,650 shares during the quarter. Northern Trust Corp owned 1.13% of Drive Shack worth $5,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DS. Dakota Wealth Management bought a new stake in shares of Drive Shack during the 2nd quarter valued at $154,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Drive Shack during the 2nd quarter valued at $193,000. Macquarie Group Ltd. bought a new stake in shares of Drive Shack during the 2nd quarter valued at $212,000. MetLife Investment Advisors LLC raised its position in shares of Drive Shack by 234.1% during the 2nd quarter. MetLife Investment Advisors LLC now owns 29,184 shares of the real estate investment trust’s stock valued at $225,000 after acquiring an additional 20,448 shares during the last quarter. Finally, Spark Investment Management LLC bought a new stake in shares of Drive Shack during the 2nd quarter valued at $233,000. 55.67% of the stock is currently owned by institutional investors.

DS has been the subject of several research analyst reports. ValuEngine lowered shares of Drive Shack from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 11th. Zacks Investment Research raised shares of Drive Shack from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 6th.

Shares of DS stock opened at $5.02 on Monday. Drive Shack Inc has a 12-month low of $4.42 and a 12-month high of $8.06. The firm has a market capitalization of $336.48 million, a PE ratio of 23.90 and a beta of 1.28. The company has a debt-to-equity ratio of 2.19, a current ratio of 2.79 and a quick ratio of 2.79.

Drive Shack (NYSE:DS) last announced its quarterly earnings results on Thursday, November 8th. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.08). Drive Shack had a negative net margin of 18.78% and a negative return on equity of 21.30%. The firm had revenue of $87.42 million during the quarter, compared to analyst estimates of $88.23 million. Equities analysts expect that Drive Shack Inc will post -0.42 EPS for the current fiscal year.

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About Drive Shack

Drive Shack Inc owns and operates golf-related leisure and entertainment businesses. Its Traditional Golf Properties segment owns and operates golf properties in the United States. As of March 31, 2018, it owned, leased, or managed 74 properties in 12 states. The company's Entertainment Golf Venues segment operates an entertainment golf venue in Orlando, Florida.

Further Reading: Are all No-Load Funds Equal?

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

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