The Zacks Investment Research lowers the Stock rating of Silver Bay Realty Trust Corp. (SBY)

The Zacks Investment Research lowers the Stock rating of Silver Bay Realty Trust Corp. (SBY)

Silver Bay Realty Trust Corp. (NYSE:SBY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Silver Bay Realty Trust Corp. is a real estate investment trust focused on the acquisition, renovation, leasing and management of single-family properties. Silver Bay Realty Trust Corp. is based in United States. “

A number of other analysts have also recently commented on SBY. Keefe, Bruyette & Woods lifted their price target on Silver Bay Realty Trust Corp. from $17.00 to $18.00 and gave the stock a “market perform” rating in a research report on Thursday, September 22nd. Compass Point cut Silver Bay Realty Trust Corp. from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Tuesday, July 26th. Finally, JPMorgan Chase & Co. cut Silver Bay Realty Trust Corp. from an “overweight” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Monday, September 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’s stock. The stock presently has an average rating of “Hold” and an average price target of $18.80.

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Shares of Silver Bay Realty Trust Corp. (NYSE:SBY) traded down 0.30% during mid-day trading on Wednesday, reaching $16.60. The company’s stock had a trading volume of 339,169 shares. The firm’s 50-day moving average price is $18.45 and its 200 day moving average price is $16.62. The firm’s market cap is $587.37 million. Silver Bay Realty Trust Corp. has a 12-month low of $12.03 and a 12-month high of $19.41.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.52 annualized dividend and a dividend yield of 3.13%. Silver Bay Realty Trust Corp.’s dividend payout ratio (DPR) is presently -325.00%.

A number of institutional investors have recently added to or reduced their stakes in SBY. Mizuho Trust & Banking Co. Ltd. boosted its position in Silver Bay Realty Trust Corp. by 1.3% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 6,885 shares of the company’s stock worth $117,000 after buying an additional 88 shares during the last quarter. Ancora Advisors LLC acquired a new position in Silver Bay Realty Trust Corp. during the second quarter worth $170,000. Los Angeles Capital Management & Equity Research Inc. boosted its position in Silver Bay Realty Trust Corp. by 16.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 12,132 shares of the company’s stock worth $180,000 after buying an additional 1,710 shares during the last quarter. Summit Securities Group LLC acquired a new position in Silver Bay Realty Trust Corp. during the second quarter worth $221,000. Finally, Dynamic Technology Lab Private Ltd boosted its position in Silver Bay Realty Trust Corp. by 30.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 14,368 shares of the company’s stock worth $245,000 after buying an additional 3,384 shares during the last quarter. 70.62% of the stock is owned by institutional investors.

Silver Bay Realty Trust Corp. Company Profile

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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