Polaris to debut new vehicle
Feltl and Co. analyst Mark Smith was among the first to expose Polaris Industries’ plans for a new vehicle type. He unearthed patent drawings for a two-passenger, street-legal, three-wheeled vehicle with two wheels up front and one in back in his February 2013 research report.
Now it appears Polaris is ready to debut the Slingshot at its annual dealer meeting July 27-30 in Minneapolis. During last week’s second-quarter earnings call, President Bennett Morgan called the Slingshot “the worst-kept secret” in the industry.
Writing last week, analyst Smith said: “We think there is significant dealer and consumer interest in this product and think initial sales may be strong.”
Smith was encouraged by strong sales of the company’s other vehicles, especially off-road vehicles. Polaris’ second-quarter sales of $1.014 million were 2.6 percent higher than Smith’s estimate. He is reiterating his “buy” rating on Polaris.
Silver Bay’s holdings rated
Kroll Bond Rating Agency recently looked at bond offerings of Silver Bay Realty Trust, a publicly traded real estate investment trust that has built a portfolio of 5,800 single-family rental homes located in 14 markets in eight states. Kroll recently met with Silver Bay’s management.
The agency wrote, “Silver Bay has the experience and knowledge to manage a diversified pool of residential properties across the U.S.” But it cautioned that Silver Bay’s operating history is limited and that many of its properties have been leased for less than one year.
Kroll rated six pieces of a new $312.7 million loan backed by 3,089 single-family properties AAA to BB+.