Shares of Silver Bay Realty Trust Corp. (NYSE:SBY) traded down 2.3% during mid-day trading on Wednesday . The company traded as low as $18.40 and last traded at $18.48, with a volume of 140,316 shares traded. The stock had previously closed at $18.91.

SBY has been the subject of several research analyst reports. Zacks Investment Research raised Silver Bay Realty Trust Corp. from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Saturday, August 6th. Compass Point lowered Silver Bay Realty Trust Corp. from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a report on Tuesday, July 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $18.75.

The company’s 50-day moving average price is $18.72 and its 200 day moving average price is $16.34. The company’s market capitalization is $670.88 million.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/silver-bay-realty-trust-corp-sby-shares-down-2-3.html

Silver Bay Realty Trust Corp. (NYSE:SBY) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Silver Bay Realty Trust Corp. had a negative net margin of 4.59% and a negative return on equity of 1.03%. The firm earned $31.50 million during the quarter, compared to analyst estimates of $31.32 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts predict that Silver Bay Realty Trust Corp. will post $0.81 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Growth Management LP acquired a new position in Silver Bay Realty Trust Corp. during the second quarter valued at about $16,809,000. Renaissance Technologies LLC raised its position 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 valued at $30,532,000 after buying an additional 244,700 shares during the period. Bank of Montreal Can acquired a new position in Silver Bay Realty Trust Corp. during the second quarter valued at about $3,837,000. Acadian Asset Management LLC raised its position in Silver Bay Realty Trust Corp. by 208.2% in the first quarter. Acadian Asset Management LLC now owns 289,526 shares of the company’s stock valued at $4,299,000 after buying an additional 195,571 shares during the period. Finally, Employees Retirement System of Texas acquired a new position in Silver Bay Realty Trust Corp. during the second quarter valued at about $2,725,000. 70.62% of the stock is owned by hedge funds and other institutional investors.

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.

5 Day Chart for NYSE:SBY

Receive News & Ratings for Silver Bay Realty Trust Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silver Bay Realty Trust Corp. and related companies with MarketBeat.com's FREE daily email newsletter.