American Assets Capital Advisers Has $7 Million Position in Drive Shack Inc. (NYSE:DS)

American Assets Capital Advisers boosted its stake in shares of Drive Shack Inc. (NYSE:DS) by 6.2% during the second quarter, Holdings Channel reports. The institutional investor owned 2,228,012 shares of the real estate investment trust’s stock after buying an additional 130,585 shares during the period. Drive Shack accounts for about 2.9% of American Assets Capital Advisers’ investment portfolio, making the stock its 21st largest position. American Assets Capital Advisers’ holdings in Drive Shack were worth $6,996,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the stock. Sei Investments Co. purchased a new position in Drive Shack during the second quarter valued at about $601,000. Janney Montgomery Scott LLC boosted its position in Drive Shack by 231.1% in the second quarter. Janney Montgomery Scott LLC now owns 289,528 shares of the real estate investment trust’s stock valued at $912,000 after buying an additional 202,089 shares in the last quarter. Bank of Montreal Can boosted its position in Drive Shack by 14,209.1% in the second quarter. Bank of Montreal Can now owns 67,682 shares of the real estate investment trust’s stock valued at $214,000 after buying an additional 67,209 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Drive Shack by 205.6% in the first quarter. Goldman Sachs Group Inc. now owns 381,973 shares of the real estate investment trust’s stock valued at $1,585,000 after buying an additional 256,975 shares in the last quarter. Finally, Credit Suisse AG boosted its position in Drive Shack by 39.6% in the first quarter. Credit Suisse AG now owns 123,230 shares of the real estate investment trust’s stock valued at $512,000 after buying an additional 34,929 shares in the last quarter. Hedge funds and other institutional investors own 38.58% of the company’s stock.

Shares of Drive Shack Inc. (DS) opened at 2.79 on Monday. Drive Shack Inc. has a one year low of $2.75 and a one year high of $4.75. The company has a 50-day moving average of $3.09 and a 200 day moving average of $3.75. The stock’s market cap is $186.58 million.

Drive Shack (NYSE:DS) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.11 earnings per share for the quarter, topping 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 firm had revenue of $81.36 million during the quarter, compared to the consensus estimate of $84.48 million. During the same period last year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities analysts forecast that Drive Shack Inc. will post $0.32 earnings per share for the current fiscal year.

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Separately, Zacks Investment Research upgraded shares of Drive Shack from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th.

In other Drive Shack news, Director Alan L. Tyson bought 100,000 shares of Drive Shack stock in a transaction on Wednesday, May 10th. The stock was bought at an average price of $3.81 per share, with a total value of $381,000.00. Following the completion of the acquisition, the director now owns 175,069 shares in the company, valued at $667,012.89. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.20% of the stock is currently owned by company insiders.

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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