Silver Bay Realty Trust Corp. Stock Rating Upgraded by JPMorgan Chase & Co. (SBY)
Silver Bay Realty Trust Corp. (NYSE:SBY) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $18.00 target price on the stock, up from their previous target price of $17.00. JPMorgan Chase & Co.’s target price indicates a potential upside of 10.84% from the company’s current price.
Silver Bay Realty Trust Corp. (NYSE:SBY) opened at 16.24 on Monday. Silver Bay Realty Trust Corp. has a 52 week low of $14.65 and a 52 week high of $16.98. The stock has a 50-day moving average of $16.14 and a 200-day moving average of $15.77. The company’s market cap is $624.8 million.
Silver Bay Realty Trust Corp. (NYSE:SBY) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $19.15 million for the quarter, compared to the consensus estimate of $19.14 million. The company’s revenue for the quarter was up 78.6% on a year-over-year basis. Analysts expect that Silver Bay Realty Trust Corp. will post $0.26 EPS for the current fiscal year.
In other Silver Bay Realty Trust Corp. news, Director Thomas Siering unloaded 4,208 shares of the company’s stock on the open market in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $16.28, for a total value of $68,506.24. The sale was disclosed in a filing with the SEC, which is available at this link.
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.
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