Silver Bay Realty Trust (SBY) Tops Q4 EPS by 10c

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Silver Bay Realty Trust (SBY) to Be Acquired by Tricon Capital for $1.4B

February 27, 2017 4:09 PM EST

Silver Bay Realty Trust Corp. (NYSE: SBY), a single-family rental real estate investment trust (REIT), today announced that its Board of Directors has unanimously approved and Silver Bay has entered into a definitive agreement pursuant to which Tricon Capital Group Inc. will acquire Silver Bay in a transaction valued at approximately $1.4 billion and announced its operating and financial results for the quarter and year ended December 31, 2016. Silver Bays stockholders will receive $21.501 per share in cash for each outstanding share of common stock held immediately prior to the closing of the transaction. This purchase price... More

Credit Suisse Starts Silver Bay Realty Trust Corp. (SBY) at Neutral

February 27, 2017 5:54 AM EST

Credit Suisse initiates coverage on Silver Bay Realty Trust Corp. (NYSE: SBY) with a Neutral rating and a price target of $19.00.

Analyst Doug Harter comments "Our $19 target price represents a 21.0 multiple on our 2017 FFO estimate and 15% discount to our current NAV... More