Silver Bay Realty Trust Corp. (
) has reported that their CEO, David Miller, has purchased
company shares on March 4, according to
GuruFocus Insider Buys
On March 4, CEO David Miller added 10,000 shares of SBY at an
average price of $19.47 for a total of $194,700. After this
purchase Miller now owns at least 22,500 shares in Silver Bay.
Since this transaction occurred, the price of the stock has
increased by 1.23 percent.
Miller also made a substantial transaction on Dec. 19, 2012, when
he bought 12,500 shares of SBY stock. Those shares are now up
Market capitalized at $735.8 million, Silver Bay Realty Trust
Corp., is Maryland-based company that focuses on the acquisition,
renovation, leasing and management of single-family properties
for rental income and long-term capital appreciation. Silver Bay
is a young company with a incorporation date of July 2012. The
company's primary source of revenue comes from the leasing of
single-family homes in Arizona, California, Florida, Ohio and
Before serving as CEO, David Miller served as a managing director
of Pine River Capital Management LP and Two Harbors Investment
Corp., where he worked on new business development, including the
creation and development of Silver Bay. From 2008 to 2011, Miller
worked in the U.S. Department of Treasury as the chief investment
officer of the Troubled Asset Relief Program (TARP). Miller
graduated with an MBA from Harvard Business School and a B.A. in
economics from Dartmouth College.
In the first quarter of 2012, Silver Bay's Predecessor began
creating a portfolio of single-family properties. A majority of
these properties did not generate revenue for 2012 due to the
fact that they were still in the stabilization phase. Regardless,
Silver Bay reported fourth quarter 2012 total revenue of $2.8
As of Jan. 15, 2013, Silver Bay maintains a portfolio of 3,405
"Silver Bay is capitalizing on a generation opportunity to
acquire undervalued single-family properties with strong
demographic and macroeconomic indicators," said David Miller,
Silver Bay's President and CEO. "Additionally, we continue to
build our institutional platform in order to grow our business
and capture operational efficiencies."
Dec. 19, 2012 was the biggest day in insider buys with David
Miller buying 12,500 shares, Thomas Siering (Director) buying
25,000 shares and Irwin Freydberg (
) taking in 3,000 shares as well.
With its stock down 1.37% this afternoon, Silver Bay trades at
currently holds 786,797 shares of SBY.
For more information on Silver Bay's insider trades, check out
David Miller's Trading History
and Thomas Siering's Trading History.About GuruFocus:
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