Silver Bay Realty Trust — Q4 2015 Earnings Presentation
13 slides from Silver Bay Realty Trust's earnings presentation, Feb 24, 2016
Slide 1: Fourth Quarter 2015 Earnings Presentation
1 SILVER BAY REALTY TRUST CORP. F o u r t h Q u a r t e r 2 0 1 5 E a r n i n g s P r e s e n t a t i o n
Slide 2: Safe Harbor Statement
2 SAFE HARBOR STATEMENT F O R W A R D - L O O K I N G S T A T E M E N T S This presentation and related conference call contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and stra
Slide 3: Q4 – 2015 Highlights
3 Q4 – 2015 HIGHLIGHTS Total revenue of $30.6 million, an increase of 48% compared to the fourth quarter of 2014 Net operating income (“NOI”)(1) of $17.8 million, an increase of 64% compared to the fourth quarter of 2014 Core Funds from Operations (“Core FFO”)(1) of $7.6 million, or $0.20 per
Slide 4: Silver Bay Portfolio and Infrastructure
4 SILVER BAY PORTFOLIO AND INFRASTRUCTURE DENOTES INTERNALLY MANAGED MARKET NORTHERN CA 382 SOUTHERN CA 75 LAS VEGAS 290 PHOENIX 1,424 TUCSON 209 DALLAS 504 SOUTHEAST FLORIDA 384 JACKSONVILLE 452 COLUMBUS 284 PLYMOUTH CORPORATE HEADQUARTERS ATLANTA 2,723 CHARLOTTE 686 TAMPA 1,113 ORLANDO 496 (1) ‘Ot
Slide 5: Q4 - 2015 Operational and Financial Summary
5 Q4 - 2015 OPERATIONAL AND FINANCIAL SUMMARY Increased aggregate and stabilized occupancy to 96% Achieved rental increases of 4.1% on new move-ins and 3.5% on renewals Retained 80.3% of residents on 1,885 homes available for turn Trailing twelve month turnover was 27.6%, a 260 basis point d
Slide 6: Appendix
6 A P P E N D I X
Slide 7: Automated Valuation Model (AVM) and Estimated Net Asset Value (NAV)
7 AUTOMATED VALUATION MODEL (“AVM”) AND ESTIMATED NET ASSET VALUE (“NAV”) AVM refers to Silver Bay’s proprietary automated valuation model. The AVM estimates the value of a subject property using comparable sales analysis based on sales data, without reference to the intended use for the subject or
Slide 8: Estimated Portfolio Value and Estimated Renovation Reserve
8 ESTIMATED PORTFOLIO VALUE AND ESTIMATED RENOVATION RESERVE Estimated Portfolio Value refers to the estimated fair market value of the Company’s properties, excluding properties reflected as assets held for sale on the Company’s balance sheets. The Estimated Portfolio Value reflects the aggregated
Slide 9: Portfolio of Single-Family Properties
9 PORTFOLIO OF SINGLE-FAMILY PROPERTIES As of December 31, 2015 MARKET NUMBER OF PROPERTIES(1) AGGREGATE COST BASIS(2) (THOUSANDS) AVM VALUE (THOUSANDS) AVERAGE COST BASIS PER PROPERTY (THOUSANDS) AVERAGE AVM PER PROPERTY (THOUSANDS) AVERAGE AGE(3) (IN YEARS) AVERAGE SQUARE FOOTAGE Atlanta 2,723 $ 3
Slide 10: Portfolio Summary of Leasing Status of Properties
10 MARKET NUMBER OF PROPERTIES NUMBER OF STABILIZED PROPERTIES(1) PROPERTIES LEASED PROPERTIES VACANT AGGREGATE PORTFOLIO OCCUPANCY RATE STABILIZED OCCUPANCY RATE AVERAGE MONTHLY RENT(2) Atlanta 2,723 2,723 2,629 94 96.5% 96.5% $ 1,060 Phoenix 1,424 1,424 1,347 77 94.6% 94.6% 1,102 Tampa 1,113 1,113
Slide 11: Net Operating Income
11 NET OPERATING INCOME Net operating income (“NOI”) is a non-GAAP financial measure defined by the Company as total revenue less property operating and maintenance, real estate taxes, homeowners’ association fees, and property management expenses. NOI excludes depreciation and amortization, the for
Slide 12: Funds From Operations and Core Funds From Operations
12 FUNDS FROM OPERATIONS AND CORE FUNDS FROM OPERATIONS Funds From Operations ("FFO") is a non-GAAP financial measure that the Company believes, when considered with the financial statements determined in accordance with GAAP, is helpful to investors in understanding performance because it captures
Slide 13: 3300 FERNBROOK LANE NORTH | SUITE | PLYMOUTH | MN | 5447 P: 952.358.4400
13 3300 FERNBROOK LANE NORTH | SUITE 210 | PLYMOUTH | MN | 55447 P: 952.358.4400 | E: INVES TO RS@ SILVERBAYMGMT .C OM
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