Morgan Stanley Sells 4,980 Shares of Drive Shack Inc (NYSE:DS)

Morgan Stanley reduced its stake in Drive Shack Inc (NYSE:DS) by 5.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,978 shares of the real estate investment trust’s stock after selling 4,980 shares during the period. Morgan Stanley owned approximately 0.12% of Drive Shack worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Angeles Investment Advisors LLC purchased a new position in Drive Shack during the 2nd quarter valued at about $94,000. Janney Montgomery Scott LLC lifted its stake in Drive Shack by 10.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 317,646 shares of the real estate investment trust’s stock valued at $1,490,000 after acquiring an additional 30,838 shares during the period. Northern Trust Corp lifted its stake in Drive Shack by 1.6% during the 2nd quarter. Northern Trust Corp now owns 788,328 shares of the real estate investment trust’s stock valued at $3,697,000 after acquiring an additional 12,170 shares during the period. Vanguard Group Inc. lifted its stake in Drive Shack by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,000,037 shares of the real estate investment trust’s stock valued at $14,070,000 after acquiring an additional 50,615 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in Drive Shack by 17.0% during the 2nd quarter. GSA Capital Partners LLP now owns 91,496 shares of the real estate investment trust’s stock valued at $429,000 after acquiring an additional 13,315 shares during the period. Institutional investors and hedge funds own 58.92% of the company’s stock.

Several equities analysts have recently weighed in on DS shares. Zacks Investment Research raised shares of Drive Shack from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 22nd. ValuEngine raised shares of Drive Shack from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Finally, JMP Securities initiated coverage on shares of Drive Shack in a report on Tuesday, October 15th. They set an “outperform” rating and a $8.00 target price for the company.

Shares of Drive Shack stock traded up $0.21 during trading hours on Tuesday, reaching $4.36. 3,191 shares of the company’s stock were exchanged, compared to its average volume of 336,330. Drive Shack Inc has a 1 year low of $3.55 and a 1 year high of $5.82. The company has a market capitalization of $265.45 million, a P/E ratio of -10.09 and a beta of 1.33. The business has a fifty day moving average of $4.11 and a two-hundred day moving average of $4.65. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 7.59.

About Drive Shack

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.

Further Reading: Calculating net profit and net profit margin ratio

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

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