Silver Bay Realty Trust Corp (SBY) was Downgraded by Compass Point to ” Neutral” and the brokerage firm has set the Price Target at $19. Earlier the firm had a rating of “Buy ” on the company shares. Compass Point advised their investors in a research report released on Jul 26, 2016.
On the company’s financial health, Silver Bay Realty Trust Corp reported $0.19 EPS for the quarter, based on the information available during the earnings call on May 4, 2016. Analyst had a consensus estimate of $0.19. The company had revenue of $31.10 million for the quarter, compared to analysts expectations of $31.05 million. The company’s revenue was up 40.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS.
Silver Bay Realty Trust Corp opened for trading at $17.47 and hit $17.68 on the upside on Wednesday, eventually ending the session at $17.56, with a gain of 0.52% or 0.09 points. The heightened volatility saw the trading volume jump to 1,50,549 shares. Company has a market cap of $623 M.
In a different news, on Mar 2, 2015, Thomas Siering (director) purchased 10,000 shares at $15.75 per share price.
Silver Bay Realty Trust Corp. is focused on the acquisition renovation leasing and management of single-family properties in selected markets in the United States. As of December 31 2014 the Company owned 6779 single-family properties in Arizona California Florida Georgia Nevada North Carolina Ohio and Texas. The Company conducts its business and owns all of its properties through Silver Bay Operating Partnership L.P. (the operating partnership). The Company’s wholly owned subsidiary Silver Bay Management LLC is the sole general partner of the Operating Partnership. As of December 31 2014 Silver Bay Realty Trust Corp. owned through a combination of direct and indirect interests 94.3% of the partnership interests in the Operating Partnership. The Company’s subsidiaries include Silver Bay Operating Partnership L.P SB TRS LLC Silver Bay Property Corp. SB Financing Trust SB Financing Trust Owner LLC SBY 2014-1 Equity Owner LLC and SBY 2014-1 Borrower LLC.