Sunrise Realty Trust (NASDAQ:SUNS) Price Target Cut to $14.50 by Analysts at Raymond James

Sunrise Realty Trust (NASDAQ:SUNS) had its price target cut by equities researchers at Raymond James from $15.00 to $14.50 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price target would suggest a potential upside of 27.94% from the company’s previous close.

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

Sunrise Realty Trust Stock Up 2.1 %

NASDAQ SUNS traded up $0.23 during trading hours on Monday, reaching $11.33. The company’s stock had a trading volume of 34,806 shares, compared to its average volume of 156,796. The firm has a fifty day simple moving average of $12.46 and a 200-day simple moving average of $13.68. Sunrise Realty Trust has a 52 week low of $8.11 and a 52 week high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting 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, research analysts forecast that Sunrise Realty Trust will post 0.58 EPS for the current year.

Insider Buying and Selling at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum acquired 39,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were bought 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 $18,430,705.92. This trade represents a 2.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have bought 1,087,429 shares of company stock valued at $13,171,696. 5.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sunrise Realty Trust

A number of hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in shares of Sunrise Realty Trust by 353.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock worth $41,000 after buying an additional 2,279 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Sunrise Realty Trust by 60.4% during the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock valued at $73,000 after acquiring an additional 1,952 shares during the period. Barclays PLC acquired a new position in shares of Sunrise Realty Trust during the 3rd quarter valued at $106,000. Spire Wealth Management bought a new position in Sunrise Realty Trust during the fourth quarter worth $137,000. Finally, JPMorgan Chase & Co. acquired a new stake in Sunrise Realty Trust in the third quarter worth $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.