Intrinsic value of Drive Shack - DS

Previous Close

$5.12

  Intrinsic Value

$0.43

stock screener

  Rating & Target

str. sell

-92%

Previous close

$5.12

 
Intrinsic value

$0.43

 
Up/down potential

-92%

 
Rating

str. sell

We calculate the intrinsic value of DS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  11.90
  11.21
  10.59
  10.03
  9.53
  9.07
  8.67
  8.30
  7.97
  7.67
  7.41
  7.17
  6.95
  6.75
  6.58
  6.42
  6.28
  6.15
  6.04
  5.93
  5.84
  5.75
  5.68
  5.61
  5.55
  5.50
  5.45
  5.40
  5.36
  5.32
Revenue, $m
  327
  364
  403
  443
  485
  529
  575
  623
  673
  724
  778
  834
  891
  952
  1,014
  1,079
  1,147
  1,218
  1,291
  1,368
  1,448
  1,531
  1,618
  1,709
  1,804
  1,903
  2,006
  2,115
  2,228
  2,347
Variable operating expenses, $m
  339
  377
  416
  457
  500
  545
  592
  640
  691
  743
  792
  849
  908
  969
  1,033
  1,099
  1,168
  1,240
  1,315
  1,393
  1,474
  1,559
  1,648
  1,740
  1,837
  1,938
  2,043
  2,154
  2,269
  2,390
Fixed operating expenses, $m
  29
  29
  30
  31
  31
  32
  33
  33
  34
  35
  36
  36
  37
  38
  39
  40
  41
  41
  42
  43
  44
  45
  46
  47
  48
  49
  50
  51
  53
  54
Total operating expenses, $m
  368
  406
  446
  488
  531
  577
  625
  673
  725
  778
  828
  885
  945
  1,007
  1,072
  1,139
  1,209
  1,281
  1,357
  1,436
  1,518
  1,604
  1,694
  1,787
  1,885
  1,987
  2,093
  2,205
  2,322
  2,444
Operating income, $m
  -40
  -42
  -43
  -44
  -46
  -47
  -49
  -51
  -52
  -54
  -50
  -52
  -54
  -56
  -57
  -60
  -62
  -64
  -66
  -68
  -71
  -73
  -76
  -79
  -81
  -84
  -87
  -90
  -94
  -97
EBITDA, $m
  0
  3
  6
  9
  12
  15
  18
  22
  25
  29
  33
  37
  42
  46
  51
  56
  61
  66
  72
  78
  84
  90
  97
  104
  111
  119
  127
  136
  144
  154
Interest expense (income), $m
  12
  9
  11
  14
  16
  19
  22
  25
  28
  31
  34
  38
  41
  45
  49
  53
  57
  61
  66
  71
  75
  81
  86
  91
  97
  103
  109
  116
  123
  130
  138
Earnings before tax, $m
  -49
  -53
  -57
  -61
  -65
  -69
  -74
  -78
  -83
  -88
  -88
  -93
  -99
  -104
  -110
  -117
  -123
  -130
  -137
  -144
  -151
  -159
  -167
  -176
  -185
  -194
  -203
  -213
  -224
  -235
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -49
  -53
  -57
  -61
  -65
  -69
  -74
  -78
  -83
  -88
  -88
  -93
  -99
  -104
  -110
  -117
  -123
  -130
  -137
  -144
  -151
  -159
  -167
  -176
  -185
  -194
  -203
  -213
  -224
  -235

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  515
  573
  633
  697
  763
  832
  904
  979
  1,058
  1,139
  1,223
  1,311
  1,402
  1,496
  1,595
  1,697
  1,804
  1,915
  2,030
  2,151
  2,276
  2,407
  2,544
  2,687
  2,836
  2,992
  3,155
  3,325
  3,503
  3,690
Adjusted assets (=assets-cash), $m
  515
  573
  633
  697
  763
  832
  904
  979
  1,058
  1,139
  1,223
  1,311
  1,402
  1,496
  1,595
  1,697
  1,804
  1,915
  2,030
  2,151
  2,276
  2,407
  2,544
  2,687
  2,836
  2,992
  3,155
  3,325
  3,503
  3,690
Revenue / Adjusted assets
  0.635
  0.635
  0.637
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
Average production assets, $m
  290
  323
  357
  393
  430
  469
  510
  553
  597
  642
  690
  739
  791
  844
  900
  957
  1,018
  1,080
  1,145
  1,213
  1,284
  1,358
  1,435
  1,516
  1,600
  1,688
  1,780
  1,876
  1,976
  2,082
Working capital, $m
  -75
  -83
  -92
  -101
  -111
  -121
  -132
  -143
  -154
  -166
  -178
  -191
  -204
  -218
  -232
  -247
  -263
  -279
  -296
  -313
  -332
  -351
  -371
  -391
  -413
  -436
  -459
  -484
  -510
  -537
Total debt, $m
  210
  255
  303
  352
  404
  459
  515
  574
  635
  699
  765
  833
  905
  979
  1,056
  1,136
  1,219
  1,306
  1,397
  1,491
  1,589
  1,692
  1,799
  1,911
  2,027
  2,150
  2,277
  2,410
  2,550
  2,696
Total liabilities, $m
  403
  448
  496
  545
  597
  652
  708
  767
  828
  892
  958
  1,026
  1,098
  1,172
  1,249
  1,329
  1,412
  1,499
  1,590
  1,684
  1,782
  1,885
  1,992
  2,104
  2,220
  2,342
  2,470
  2,603
  2,743
  2,889
Total equity, $m
  112
  124
  137
  151
  166
  181
  196
  213
  229
  247
  265
  284
  304
  325
  346
  368
  391
  415
  441
  467
  494
  522
  552
  583
  615
  649
  685
  722
  760
  801
Total liabilities and equity, $m
  515
  572
  633
  696
  763
  833
  904
  980
  1,057
  1,139
  1,223
  1,310
  1,402
  1,497
  1,595
  1,697
  1,803
  1,914
  2,031
  2,151
  2,276
  2,407
  2,544
  2,687
  2,835
  2,991
  3,155
  3,325
  3,503
  3,690
Debt-to-equity ratio
  1.880
  2.050
  2.200
  2.330
  2.440
  2.540
  2.620
  2.700
  2.770
  2.830
  2.880
  2.930
  2.970
  3.010
  3.050
  3.080
  3.120
  3.140
  3.170
  3.190
  3.220
  3.240
  3.260
  3.280
  3.290
  3.310
  3.330
  3.340
  3.350
  3.370
Adjusted equity ratio
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217
  0.217

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -49
  -53
  -57
  -61
  -65
  -69
  -74
  -78
  -83
  -88
  -88
  -93
  -99
  -104
  -110
  -117
  -123
  -130
  -137
  -144
  -151
  -159
  -167
  -176
  -185
  -194
  -203
  -213
  -224
  -235
Depreciation, amort., depletion, $m
  41
  45
  49
  53
  58
  62
  67
  72
  78
  83
  83
  89
  95
  102
  108
  115
  123
  130
  138
  146
  155
  164
  173
  183
  193
  203
  214
  226
  238
  251
Funds from operations, $m
  -9
  -8
  -8
  -8
  -7
  -7
  -7
  -6
  -6
  -5
  -5
  -4
  -3
  -3
  -2
  -1
  0
  0
  1
  2
  3
  4
  6
  7
  8
  9
  11
  13
  14
  16
Change in working capital, $m
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
Cash from operations, $m
  -1
  0
  1
  2
  2
  3
  4
  5
  6
  7
  8
  9
  10
  11
  12
  14
  15
  17
  18
  20
  22
  23
  25
  28
  30
  32
  35
  37
  40
  43
Maintenance CAPEX, $m
  -31
  -35
  -39
  -43
  -47
  -52
  -57
  -61
  -67
  -72
  -77
  -83
  -89
  -95
  -102
  -108
  -115
  -123
  -130
  -138
  -146
  -155
  -164
  -173
  -183
  -193
  -203
  -214
  -226
  -238
New CAPEX, $m
  -30
  -33
  -34
  -36
  -37
  -39
  -41
  -42
  -44
  -46
  -48
  -49
  -51
  -53
  -56
  -58
  -60
  -63
  -65
  -68
  -71
  -74
  -77
  -81
  -84
  -88
  -92
  -96
  -101
  -105
Cash from investing activities, $m
  -61
  -68
  -73
  -79
  -84
  -91
  -98
  -103
  -111
  -118
  -125
  -132
  -140
  -148
  -158
  -166
  -175
  -186
  -195
  -206
  -217
  -229
  -241
  -254
  -267
  -281
  -295
  -310
  -327
  -343
Free cash flow, $m
  -62
  -68
  -72
  -77
  -82
  -88
  -93
  -99
  -105
  -111
  -117
  -124
  -130
  -138
  -145
  -152
  -160
  -169
  -177
  -186
  -195
  -205
  -215
  -226
  -237
  -248
  -261
  -273
  -286
  -300
Issuance/(repayment) of debt, $m
  42
  45
  47
  50
  52
  54
  56
  59
  61
  64
  66
  69
  71
  74
  77
  80
  83
  87
  90
  94
  98
  103
  107
  112
  117
  122
  128
  133
  140
  146
Issuance/(repurchase) of shares, $m
  61
  66
  70
  75
  79
  84
  89
  95
  100
  106
  106
  112
  118
  125
  132
  139
  146
  154
  162
  170
  179
  188
  197
  207
  217
  228
  239
  250
  263
  275
Cash from financing (excl. dividends), $m  
  103
  111
  117
  125
  131
  138
  145
  154
  161
  170
  172
  181
  189
  199
  209
  219
  229
  241
  252
  264
  277
  291
  304
  319
  334
  350
  367
  383
  403
  421
Total cash flow (excl. dividends), $m
  41
  43
  45
  47
  49
  51
  53
  54
  56
  58
  55
  57
  59
  61
  64
  67
  69
  72
  75
  78
  82
  85
  89
  93
  97
  101
  106
  111
  116
  121
Retained Cash Flow (-), $m
  -61
  -66
  -70
  -75
  -79
  -84
  -89
  -95
  -100
  -106
  -106
  -112
  -118
  -125
  -132
  -139
  -146
  -154
  -162
  -170
  -179
  -188
  -197
  -207
  -217
  -228
  -239
  -250
  -263
  -275
Prev. year cash balance distribution, $m
  71
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  51
  -22
  -25
  -28
  -30
  -34
  -37
  -40
  -44
  -47
  -51
  -55
  -59
  -63
  -68
  -72
  -77
  -82
  -87
  -92
  -97
  -103
  -108
  -114
  -120
  -126
  -133
  -140
  -147
  -154
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  49
  -20
  -22
  -23
  -24
  -24
  -25
  -25
  -25
  -25
  -24
  -24
  -23
  -21
  -20
  -18
  -17
  -15
  -13
  -12
  -10
  -9
  -7
  -6
  -5
  -4
  -3
  -2
  -2
  -1
Current shareholders' claim on cash, %
  76.6
  59.2
  46.2
  36.4
  28.8
  23.0
  18.4
  14.9
  12.0
  9.8
  8.1
  6.7
  5.5
  4.6
  3.8
  3.2
  2.6
  2.2
  1.9
  1.6
  1.3
  1.1
  0.9
  0.8
  0.7
  0.6
  0.5
  0.4
  0.3
  0.3

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. American Golf Corporation operates approximately 90 private, resort and public golf courses throughout the United States. It has a range of public and private golf courses in California, New York, and Georgia. It operates multiple facilities that provide golf, tennis, swimming and spa facilities, among others. Its online Pro Shop offers a range of golf gifts, such as personalized golf balls, golf luggage and accessories. Its public golf courses equipped with practice areas, golf shops, driving ranges, and food and beverage options.

FINANCIAL RATIOS  of  Drive Shack (DS)

Valuation Ratios
P/E Ratio 4.4
Price to Sales 0.9
Price to Book 1.6
Price to Tangible Book
Price to Cash Flow 114
Price to Free Cash Flow 114
Growth Rates
Sales Growth Rate -0.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 0
Current Ratio NaN
LT Debt to Equity 74.3%
Total Debt to Equity 351.8%
Interest Coverage 8
Management Effectiveness
Return On Assets 6.7%
Ret/ On Assets - 3 Yr. Avg. 4.1%
Return On Total Capital 7.1%
Ret/ On T. Cap. - 3 Yr. Avg. 3.3%
Return On Equity 36%
Return On Equity - 3 Yr. Avg. 16.7%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 81%
Gross Margin - 3 Yr. Avg. 76.9%
EBITDA Margin 30.1%
EBITDA Margin - 3 Yr. Avg. 36.3%
Operating Margin 20.6%
Oper. Margin - 3 Yr. Avg. 6.4%
Pre-Tax Margin 20.1%
Pre-Tax Margin - 3 Yr. Avg. 13.9%
Net Profit Margin 19.8%
Net Profit Margin - 3 Yr. Avg. 11.1%
Effective Tax Rate 1.3%
Eff/ Tax Rate - 3 Yr. Avg. 0.4%
Payout Ratio 49.4%

DS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DS stock intrinsic value calculation we used $292.594 million for the last fiscal year's total revenue generated by Drive Shack. The default revenue input number comes from 0001 income statement of Drive Shack. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our DS stock valuation model: a) initial revenue growth rate of 11.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for DS is calculated based on our internal credit rating of Drive Shack, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Drive Shack.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of DS stock the variable cost ratio is equal to 103.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $28 million in the base year in the intrinsic value calculation for DS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Drive Shack.

Corporate tax rate of 27% is the nominal tax rate for Drive Shack. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the DS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for DS are equal to 88.7%.

Life of production assets of 8.3 years is the average useful life of capital assets used in Drive Shack operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for DS is equal to -22.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $171.051 million for Drive Shack - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 66.977 million for Drive Shack is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Drive Shack at the current share price and the inputted number of shares is $0.3 billion.

RELATED COMPANIES Price Int.Val. Rating
DS Drive Shack 5.12 0.43  str.sell

COMPANY NEWS

▶ Drive Shack: 3Q Earnings Snapshot   [06:13AM  Associated Press]
▶ Tavistock Restaurants to open new Lake Nona pizza and brew pub   [Sep-24-18 02:21PM  American City Business Journals]
▶ Who Are The Top Investors In Drive Shack Inc (NYSE:DS)?   [Sep-19-18 03:33PM  Simply Wall St.]
▶ Orlando sports facility company shoots for next location   [02:27PM  American City Business Journals]
▶ New York City stocks that are driving Wall Street's latest bull run   [Aug-23-18 11:50AM  American City Business Journals]
▶ Drive Shack Inc. to Host Earnings Call   [07:00AM  ACCESSWIRE]
▶ Drive Shack: 2Q Earnings Snapshot   [06:23AM  Associated Press]
▶ Topgolf swings for new location in Lake Mary   [Jul-11-18 12:21PM  American City Business Journals]
▶ Topgolf competitor no longer planning Phoenix location   [Jul-10-18 09:00PM  American City Business Journals]
▶ Have Investors Priced In Drive Shack Incs (NYSE:DS) Growth?   [Jun-07-18 05:06PM  Simply Wall St.]
▶ Biz leaders: Here's what's ahead in Orlando's Lake Nona area   [May-09-18 09:26AM  American City Business Journals]
▶ Drive Shack: 1Q Earnings Snapshot   [May-03-18 06:19AM  Associated Press]
▶ Drive Shack Makes Highly Anticipated Debut   [Apr-05-18 05:31PM  PR Newswire]
▶ Drive Shack reports 4Q loss   [Mar-07-18 06:23AM  Associated Press]
▶ Fort Lauderdale to consider development of golf/entertainment venue on city land   [Jan-19-18 07:10AM  American City Business Journals]
▶ Is It Too Late To Buy Drive Shack Inc (NYSE:DS)?   [Dec-14-17 07:45PM  Simply Wall St.]
▶ Drive Shack gets initial OK for its first South Florida venue   [Dec-05-17 01:10PM  American City Business Journals]
▶ New $25M Lake Nona golf driving range tees up hiring plans   [Nov-27-17 01:45PM  American City Business Journals]
▶ 5 Breakout Stocks Offering Admirable Returns   [Nov-14-17 09:16AM  Zacks]
▶ Exclusive: Construction tees up for $25M Lake Nona golf attraction   [May-25-17 10:20AM  American City Business Journals]
▶ Next Catalyst: The First Drive Shack   [Mar-02-17 09:49AM  Benzinga]
▶ Drive Shack Inc. Announces Tax Treatment of 2016 Dividends   [Jan-31-17 06:28PM  Business Wire]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.