Keefe, Bruyette & Woods Cuts Sunrise Realty Trust (NASDAQ:SUNS) Price Target to $12.25

Sunrise Realty Trust (NASDAQ:SUNS) had its price target trimmed by Keefe, Bruyette & Woods from $12.75 to $12.25 in a research note published on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. B. Riley assumed coverage on shares of Sunrise Realty Trust in a research report on Thursday, February 13th. They set a “buy” rating and a $15.00 price objective for the company. Raymond James reaffirmed an “outperform” rating and set a $15.00 target price (down previously from $17.50) on shares of Sunrise Realty Trust in a report on Monday, February 3rd.

Sunrise Realty Trust Stock Performance

NASDAQ:SUNS opened at $11.16 on Monday. The company has a fifty day moving average of $12.33 and a two-hundred day moving average of $13.66. 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 posted its quarterly earnings data on Thursday, March 6th. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $3.45 million for the quarter, compared to analyst estimates of $3.25 million. As a group, sell-side analysts anticipate that Sunrise Realty Trust will post 0.58 earnings per share for the current year.

Sunrise Realty Trust Cuts Dividend

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

Insider Transactions at Sunrise Realty Trust

In other news, Chairman Leonard M. Tannenbaum acquired 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased 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 of the company’s stock, valued at $29,210,556. This trade represents a 69.72 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders acquired 1,087,429 shares of company stock valued at $13,171,696 over the last 90 days. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunrise Realty Trust

Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of Sunrise Realty Trust by 353.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock valued at $41,000 after purchasing an additional 2,279 shares during the period. Bank of America Corp DE grew its holdings in shares of Sunrise Realty Trust by 60.4% in the fourth quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock valued at $73,000 after purchasing an additional 1,952 shares during the period. Barclays PLC purchased a new stake in shares of Sunrise Realty Trust in the third quarter valued at about $106,000. Spire Wealth Management purchased a new stake in shares of Sunrise Realty Trust in the fourth quarter valued at about $137,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Sunrise Realty Trust in the third quarter valued at about $155,000.

Sunrise Realty Trust Company Profile

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.