Sunrise Realty Trust’s (SUNS) “Outperform” Rating Reiterated at Raymond James

Sunrise Realty Trust (NASDAQ:SUNS)‘s stock had its “outperform” rating reiterated by Raymond James in a research report issued on Monday,Benzinga reports. They presently have a $15.00 target price on the stock, down from their previous target price of $17.50. Raymond James’ price objective suggests a potential upside of 27.33% from the stock’s previous close.

Sunrise Realty Trust Price Performance

NASDAQ:SUNS opened at $11.78 on Monday. The company’s 50-day moving average price is $13.67. Sunrise Realty Trust has a fifty-two week low of $8.11 and a fifty-two week high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $3.18 million during the quarter, compared to the consensus estimate of $2.50 million. Equities research analysts expect that Sunrise Realty Trust will post 0.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Leonard M. Tannenbaum bought 1,000,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were bought at an average price of $12.00 per share, with a total value of $12,000,000.00. Following the completion of the acquisition, the chairman now owns 2,434,213 shares in the company, valued at $29,210,556. The trade was a 69.72 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders acquired 1,087,429 shares of company stock valued at $13,171,696.

Institutional Investors Weigh In On Sunrise Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp bought a new position in Sunrise Realty Trust in the 3rd quarter worth $1,788,000. Geode Capital Management LLC purchased a new stake in Sunrise Realty Trust in the third quarter worth about $1,785,000. Barclays PLC purchased a new stake in Sunrise Realty Trust in the third quarter worth about $106,000. Charles Schwab Investment Management Inc. bought a new position in shares of Sunrise Realty Trust in the third quarter worth about $231,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Sunrise Realty Trust during the 3rd quarter valued at about $155,000.

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.