Sunrise Realty Trust (NASDAQ:SUNS) Given New $14.50 Price Target at Raymond James

Sunrise Realty Trust (NASDAQ:SUNS) had its target price decreased by Raymond James from $15.00 to $14.50 in a report released on Monday morning, MarketBeat Ratings reports. Raymond James currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. B. Riley started coverage on shares of Sunrise Realty Trust in a research note on Thursday, February 13th. They set a “buy” rating and a $15.00 target price for the company. Keefe, Bruyette & Woods cut their target price on shares of Sunrise Realty Trust from $12.75 to $12.25 and set an “outperform” rating for the company in a research note on Monday.

Sunrise Realty Trust Stock Performance

Shares of SUNS stock opened at $11.16 on Monday. The company’s fifty day moving average price is $12.33 and its 200-day moving average price is $13.66. Sunrise Realty Trust has a one year low of $8.11 and a one year high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its earnings results on Thursday, March 6th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $3.45 million for the quarter, compared to analysts’ expectations of $3.25 million. Equities research analysts predict that Sunrise Realty Trust will post 0.58 EPS for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.30 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.75%.

Insiders Place Their Bets

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum acquired 39,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average cost of $13.42 per share, with a total value of $523,380.00. Following the purchase, the chairman now directly owns 1,373,376 shares of the company’s stock, valued at approximately $18,430,705.92. This represents a 2.92 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders acquired 1,087,429 shares of company stock valued at $13,171,696 in the last three months. Corporate insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Sunrise Realty Trust

Several institutional investors have recently made changes to their positions in SUNS. Los Angeles Capital Management LLC bought a new stake in shares of Sunrise Realty Trust in the 3rd quarter worth about $372,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Sunrise Realty Trust in the 3rd quarter worth about $231,000. Wasatch Advisors LP bought a new stake in shares of Sunrise Realty Trust in the 3rd quarter worth about $8,875,000. State Street Corp bought a new stake in shares of Sunrise Realty Trust in the 3rd quarter worth about $1,788,000. Finally, Barclays PLC bought a new stake in shares of Sunrise Realty Trust in the 3rd quarter worth about $106,000.

About Sunrise Realty Trust

Sunrise Realty Trust, Inc engages in commercial real estate (CRE) lending business. It focuses on originating CRE debt investments and providing capital to borrowers and sponsors with transitional business plans collateralized by CRE assets. The company intends to create a diversified investment portfolio, targeting investments in senior mortgage loans, mezzanine loans, whole loans, B-notes, CMBS, and debt-like preferred equity securities across CRE asset classes.