Brokerage firm JP Morgan Downgrades its rating on Silver Bay Realty Trust Corp(NYSE:SBY). The shares have been rated Neutral. Previously, the analysts had a Overweight rating on the shares. The rating by JP Morgan was issued on Sep 26, 2016.
In a different note, On Jul 26, 2016, Compass Point said it Downgrades its rating on Silver Bay Realty Trust Corp. The shares have been rated ‘Neutral’ by the firm.
Silver Bay Realty Trust Corp (SBY) shares turned negative on Thursdays trading session with the shares closing down -0.04 points or -0.21% at a volume of 3,03,461. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $19.22. The peak price level was also seen at $19.22 while the days lowest was $18.82. Finally the shares closed at $18.92. The 52-week high of the shares is $19.41 while the 52-week low is $12.03. According to the latest information available, the market cap of the company is $669 M.
Silver Bay Realty Trust Corp(SBY) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $31.49M. Analysts had an estimated revenue of $31.32M. Earnings per share were $0.21. Analysts had estimated an EPS of $0.20.
Several Insider Transactions has been reported to the SEC. 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.