Sunrise Realty Trust (NASDAQ:SUNS) Price Target Lowered to $10.75 at Keefe, Bruyette & Woods

Sunrise Realty Trust (NASDAQ:SUNS) had its target price decreased by equities research analysts at Keefe, Bruyette & Woods from $12.25 to $10.75 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 12.59% from the company’s previous close.

A number of other brokerages have also recently issued reports on SUNS. Raymond James reduced their target price on Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating on the stock in a report on Monday, March 10th. B. Riley initiated coverage on shares of Sunrise Realty Trust in a report on Thursday, February 13th. They set a “buy” rating and a $15.00 price objective for the company.

Sunrise Realty Trust Stock Down 2.8 %

NASDAQ SUNS opened at $9.55 on Monday. The business’s fifty day moving average is $11.49 and its two-hundred day moving average is $13.28. Sunrise Realty Trust has a 1 year low of $8.11 and a 1 year high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last issued its earnings results on Thursday, March 6th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $3.45 million during the quarter, compared to analyst estimates of $3.25 million. On average, equities analysts anticipate that Sunrise Realty Trust will post 0.58 earnings per share for the current fiscal year.

Insider Activity at Sunrise Realty Trust

In related news, Chairman Leonard M. Tannenbaum acquired 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $11.06 per share, with a total value of $276,500.00. Following the transaction, the chairman now owns 2,469,282 shares of the company’s stock, valued at $27,310,258.92. The trade was a 1.02 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders acquired 1,243,033 shares of company stock worth $14,701,913. 5.70% of the stock is owned by company insiders.

Institutional Trading of Sunrise Realty Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Castalian Partners LLC bought a new position in shares of Sunrise Realty Trust during the fourth quarter worth about $2,709,000. Geode Capital Management LLC acquired a new position in Sunrise Realty Trust during the 3rd quarter worth approximately $1,785,000. State Street Corp bought a new position in shares of Sunrise Realty Trust during the 3rd quarter worth approximately $1,788,000. Renaissance Technologies LLC acquired a new stake in shares of Sunrise Realty Trust in the fourth quarter valued at approximately $594,000. Finally, Marshall Wace LLP bought a new stake in shares of Sunrise Realty Trust in the fourth quarter worth $475,000.

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.