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Silver Bay Realty reports 4Q results

PLYMOUTH, Minn. (AP) _ Silver Bay Realty Trust Corp. (SBY) on Monday reported a key measure of profitability in its fourth quarter.

The real estate investment trust, based in Plymouth, Minnesota, said it had funds from operations of $9 million, or 24 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $2.7 million, or 7 cents per share.

The single-family property real estate investment trust posted revenue of $32.5 million in the period.

For the year, the company reported funds from operations of $31.1 million. Revenue was reported as $126.6 million.

The company's shares have increased 6 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $18.17, a rise of 34 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SBY at https://www.zacks.com/ap/SBY


Keywords: Silver Bay Realty, Earnings Report