Silver Bay Realty Trust Corp (SBY) was Downgraded by JP Morgan to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. JP Morgan advised their investors in a research report released on Sep 26, 2016.
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.
On the company’s financial health, Silver Bay Realty Trust Corp reported $0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.20. The company had revenue of $31.50 million for the quarter, 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.
Silver Bay Realty Trust Corp closed down -0.04 points or -0.21% at $18.92 with 3,03,461 shares getting traded on Thursday. Post opening the session at $19.05, the shares hit an intraday low of $18.82 and an intraday high of $19.22 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.