This article was coproduced with Investing with Confidence.
Today we are considering the preferred shares of a company in metamorphosis: Drive Shack (DS). This quarter’s earnings call had some exciting highlights from its two businesses.
Regarding its Traditional Golf business:
“Green and Cart fee rates per round were up 12%. Private member sales were up an impressive 32% and member rounds were up 20%. AGC’s exceptional results highlight the tremendous demand for traditional golf and really prove its ongoing viability as a top leisure activity.”
Regarding its Golfertainment business:
“Upon reopening, the revenue