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Stock Market & Financial Investment News

News Breaks
August 22, 2014
09:02 EDTSBYSilver Bay Realty says special meeting of stockholders to be held on Sept. 30
Silver Bay Realty Trust has set a meeting date for a special meeting of stockholders to consider and approve the previously announced internalization of the management of the company, whereby Silver Bay’s operating partnership will acquire PRCM Real Estate Advisers LLC, Silver Bay’s external manager, in exchange for the issuance of 2,231,511 common units of the Operating Partnership, pursuant to a contribution agreement among Silver Bay, Pine River Domestic Management L.P., Provident Real Estate Advisors LLC, the Manager, and the Operating Partnership. The special meeting will be held at 9:00 a.m., Central Time, on Tuesday, September 30.
News For SBY From The Last 14 Days
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February 27, 2015
09:58 EDTSBYOn The Fly: Analyst Upgrade Summary
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07:23 EDTSBYSilver Bay Realty upgraded at JMP Securities
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06:29 EDTSBYSilver Bay Realty upgraded to Outperform from Market Perform at JMP Securities
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February 26, 2015
08:05 EDTSBYSilver Bay Realty to hold a conference call
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February 25, 2015
16:10 EDTSBYSilver Bay Realty reports Q4 core FFO 13c, consensus 11c
Reports Q4 revenue $20.7M, consensus $21M.
February 18, 2015
09:07 EDTSBYSilver Bay Realty to acquire The American Home portfolio for $263M
Silver Bay Realty Trust announced that it has entered into a definitive agreement to acquire a portfolio of properties owned and operated by The American Home for approximately $263M in cash. The Portfolio consists of approximately 2,460 homes primarily located in Atlanta, Charlotte, Tampa and Orlando. The leased portion of the portfolio exceeds 90% with average existing rents of approximately $960 per month and the purchase price per square foot of the portfolio is approximately $66. The purchase is estimated to be immediately accretive to Silver Bay’s Funds from Operations and Estimated Net Asset Value. In conjunction with the transaction, Silver Bay executed an amendment to its credit facility that increases its borrowing capacity to $400M. The company intends to utilize the credit facility to fund the transaction. The transaction remains subject to the satisfaction of conditions to close and is targeted to close in approximately 45-60 days.

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