Trading Report: The Silver Bay Realty Trust Corp. (SBY) Stake Lowered by Strs Ohio

The Silver Bay Realty Trust Corp. (SBY) Stake Lowered by Strs Ohio

Strs Ohio lowered its position in shares of Silver Bay Realty Trust Corp. (NYSE:SBY) by 3.4% during the second quarter, Holdings Channel reports. The institutional investor owned 62,121 shares of the company’s stock after selling 2,172 shares during the period. Strs Ohio’s holdings in Silver Bay Realty Trust Corp. were worth $1,057,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in Silver Bay Realty Trust Corp. by 13.5% in the first quarter. Renaissance Technologies LLC now owns 2,056,000 shares of the company’s stock worth $30,532,000 after buying an additional 244,700 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Silver Bay Realty Trust Corp. by 1.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,539,899 shares of the company’s stock worth $22,868,000 after buying an additional 16,682 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in Silver Bay Realty Trust Corp. by 10.3% in the first quarter. TIAA CREF Investment Management LLC now owns 324,884 shares of the company’s stock worth $4,825,000 after buying an additional 30,300 shares in the last quarter. HBK Investments L P boosted its stake in Silver Bay Realty Trust Corp. by 12.3% in the first quarter. HBK Investments L P now owns 31,900 shares of the company’s stock worth $474,000 after buying an additional 3,500 shares in the last quarter. Finally, Scotia Capital Inc. boosted its stake in Silver Bay Realty Trust Corp. by 6.5% in the first quarter. Scotia Capital Inc. now owns 370,148 shares of the company’s stock worth $5,498,000 after buying an additional 22,534 shares in the last quarter. Institutional investors and hedge funds own 70.62% of the company’s stock.

Silver Bay Realty Trust Corp. (NYSE:SBY) traded down 0.59% on Friday, reaching $16.80. The company’s stock had a trading volume of 150,468 shares. The company has a 50-day moving average price of $18.12 and a 200 day moving average price of $16.68. Silver Bay Realty Trust Corp. has a 12 month low of $12.03 and a 12 month high of $19.41. The company’s market cap is $594.45 million.

Silver Bay Realty Trust Corp. (NYSE:SBY) last posted its earnings results on Wednesday, August 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $31.50 million for the quarter, compared to analyst estimates of $31.32 million. Silver Bay Realty Trust Corp. had a negative return on equity of 1.03% and a negative net margin of 4.59%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. On average, equities research analysts anticipate that Silver Bay Realty Trust Corp. will post $0.82 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Thursday, September 29th. Silver Bay Realty Trust Corp.’s payout ratio is presently -325.00%.

SBY has been the topic of a number of research reports. Zacks Investment Research cut Silver Bay Realty Trust Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. JPMorgan Chase & Co. cut Silver Bay Realty Trust Corp. from an “overweight” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research report on Monday, September 26th. Keefe, Bruyette & Woods boosted their price objective on Silver Bay Realty Trust Corp. from $17.00 to $18.00 and gave the company a “market perform” rating in a research report on Thursday, September 22nd. Finally, Compass Point cut Silver Bay Realty Trust Corp. from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research report on Tuesday, July 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Silver Bay Realty Trust Corp. presently has an average rating of “Hold” and a consensus target price of $18.80.

About Silver Bay Realty Trust Corp.

Silver Bay Realty Trust Corp. is an internally managed real estate investment trust. The Company is focused on the acquisition, renovation, leasing and management of single-family properties in certain markets in the United States. The Company owns approximately 9,020 single-family properties in Arizona, California, Florida, Georgia, Nevada, North Carolina, Ohio, South Carolina and Texas.

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