Glazer Capital LLC Takes Position in Silver Bay Realty Trust Corp (SBY)

Glazer Capital LLC purchased a new stake in Silver Bay Realty Trust Corp (NYSE:SBY) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 412,000 shares of the real estate investment trust’s stock, valued at approximately $8,846,000. Silver Bay Realty Trust Corp makes up approximately 1.0% of Glazer Capital LLC’s holdings, making the stock its 23rd largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Numeric Investors LLC raised its stake in shares of Silver Bay Realty Trust Corp by 47.9% in the fourth quarter. Numeric Investors LLC now owns 80,000 shares of the real estate investment trust’s stock valued at $1,371,000 after buying an additional 25,900 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Silver Bay Realty Trust Corp by 12.0% in the fourth quarter. AQR Capital Management LLC now owns 301,886 shares of the real estate investment trust’s stock valued at $5,175,000 after buying an additional 32,296 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Silver Bay Realty Trust Corp by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 26,027 shares of the real estate investment trust’s stock valued at $446,000 after buying an additional 75 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Silver Bay Realty Trust Corp during the fourth quarter valued at $4,198,000. Finally, A.R.T. Advisors LLC raised its stake in shares of Silver Bay Realty Trust Corp by 159.3% in the fourth quarter. A.R.T. Advisors LLC now owns 31,900 shares of the real estate investment trust’s stock valued at $546,000 after buying an additional 19,600 shares during the last quarter. 73.62% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Silver Bay Realty Trust Corp (NYSE:SBY)

Shares of Silver Bay Realty Trust Corp (NYSE:SBY) remained flat at $21.49 during mid-day trading on Friday. The company’s 50 day moving average price is $21.49 and its 200 day moving average price is $19.67. Silver Bay Realty Trust Corp has a 1-year low of $15.65 and a 1-year high of $21.85.

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Several analysts have recently weighed in on SBY shares. JMP Securities lowered Silver Bay Realty Trust Corp from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 28th. Zacks Investment Research lowered Silver Bay Realty Trust Corp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 10th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $21.50 price objective on shares of Silver Bay Realty Trust Corp in a report on Thursday, March 2nd. Finally, Credit Suisse Group started coverage on Silver Bay Realty Trust Corp in a report on Monday, February 27th. They set a “neutral” rating and a $19.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, Silver Bay Realty Trust Corp presently has a consensus rating of “Hold” and an average target price of $20.70.

Silver Bay Realty Trust Corp Company Profile

Silver Bay Realty Trust Corp. is a real estate investment trust. It focuses on the acquisition, renovation, leasing and management of single-family properties in select markets in the United States. As of December 31, 2016, it had owned 9,044 single-family properties in Arizona, California, Florida, Georgia, Nevada, North Carolina, Ohio, South Carolina and Texas.

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