A quick look suggests two on a weekday (unless there's a late evening one). That's even less convenient that using Goodrington as it requires three changes of end to reverse the train.
I suppose the first reversal of the day at PN3 is because the yard already has an IET and a Voyager in it, but why the later one(s)? Route knowledge?
It's a quicker move, not requiring crew to get down to operate the manual level crossing at Sands Road and check handpoints. The north shunt is thus also more likely to be used in emergency if a local service with a short turnround had to terminate in #1 exceptionally because booked #2 was temporarily blocked by another late-runnng train.
A disadvantage is that the north shunt reversal must take place on the down line, where there is a fixed red limit of shunt ground signal. While such a move takes place, a further incoming train cannot proceed beyond PN1, Paignton's 'outer home', a mile north at Hollicombe, site of the old Torquay Gas Works signal box and sidings. If there's a generous margin before the next train, then this is not a problem, but it is undoubtedly more risky operationally than a south shunt; if a problem develops while changing ends, the shunt blocks all subsequent arrivals until cleared.
A solution to speed up the south shunt might be to automate Sands Road crossing, if its closure is out of the question (BR tried again, unsuccessfully) in the 1980s). It might be a good candidate for AFBCL treatment, as although it's not a four barrier installlation as usually required, the road is one-way, so there is a clear entrance and exit barrier sequence that the design could use. Allied with this, extension of electric point and signalling provision through to at least two track-circuited sidings in Goodrington yard would avoid the need for crew checking clearance and handpoints. If the track circuits were going that far south, it's worth considering extension of local services to Goodrington to reverse. There is opportunity for rail parking there, both for National Rail and the Dartmouth Steam Railway (it's not good in Paignton town centre curently).
It goes without saying in my scheme the DSR crossover connection would be fully route signalled and twin crossovers provided at the north end for up departures from both platforms.
More ambitiously, provision of a third parallel track across Sands Road crossing into the yard could provide full 10 car IET standage in both platforms, by moving the junction pointwork to the other side of the road. Note this is not easy due to tight boundaries and structures.