Vanguard Group Inc. decreased its stake in shares of Drive Shack Inc. (NYSE:DS) by 20.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,460,665 shares of the real estate investment trust’s stock after selling 905,922 shares during the period. Vanguard Group Inc. owned about 5.18% of Drive Shack worth $14,361,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Laurion Capital Management LP purchased a new position in Drive Shack during the first quarter valued at $574,000. JPMorgan Chase & Co. raised its position in Drive Shack by 144.6% in the first quarter. JPMorgan Chase & Co. now owns 636,802 shares of the real estate investment trust’s stock valued at $2,643,000 after buying an additional 376,440 shares during the period. PNC Financial Services Group Inc. purchased a new position in Drive Shack during the first quarter valued at $329,000. First Trust Advisors LP purchased a new position in Drive Shack during the first quarter valued at $210,000. Finally, Bank of New York Mellon Corp raised its position in Drive Shack by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 301,257 shares of the real estate investment trust’s stock valued at $1,250,000 after buying an additional 7,760 shares during the period. 41.78% of the stock is owned by hedge funds and other institutional investors.

Drive Shack Inc. (DS) traded down 1.53% during trading on Monday, hitting $2.57. 117,140 shares of the stock traded hands. Drive Shack Inc. has a 12 month low of $2.41 and a 12 month high of $4.69. The stock’s market cap is $172.02 million. The firm’s 50-day moving average is $2.86 and its 200-day moving average is $3.57.

Drive Shack (NYSE:DS) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.11 EPS for the quarter, topping the Zacks’ 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 company had revenue of $81.36 million for the quarter, compared to the consensus estimate of $84.48 million. During the same quarter in the previous year, the business earned $0.21 EPS. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, analysts forecast that Drive Shack Inc. will post $0.32 EPS for the current year.

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

Drive Shack Company Profile

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

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