Silver Bay Realty Trust Corp (SBY) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.21 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.20. The company posted revenue of $31.50 million in the period, compared to analysts expectations of $31.56 million. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.
Many Wall Street Analysts have commented on Silver Bay Realty Trust Corp. Compass Point Downgraded Silver Bay Realty Trust Corp on Jul 26, 2016 to ” Neutral”, Price Target of the shares are set at $19.
Silver Bay Realty Trust Corp closed down -0.2 points or -1.10% at $17.91 with 1,72,577 shares getting traded on Tusday. Post opening the session at $18.06, the shares hit an intraday low of $17.89 and an intraday high of $18.18 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
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.