Sunrise Realty Trust (NASDAQ:SUNS) Coverage Initiated at Oppenheimer

Equities researchers at Oppenheimer initiated coverage on shares of Sunrise Realty Trust (NASDAQ:SUNS) in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm set an “outperform” rating and a $12.00 price target on the stock. Oppenheimer’s price objective would indicate a potential upside of 32.45% from the company’s current price.

A number of other analysts have also recently commented on SUNS. B. Riley started coverage on shares of Sunrise Realty Trust in a research report on Thursday, February 13th. They issued a “buy” rating and a $15.00 price objective for the company. Raymond James dropped their price target on Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating on the stock in a research report on Monday, March 10th. Finally, Keefe, Bruyette & Woods cut their price objective on Sunrise Realty Trust from $12.25 to $10.75 and set an “outperform” rating on the stock in a report on Monday, April 7th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $13.06.

Sunrise Realty Trust Price Performance

NASDAQ:SUNS opened at $9.06 on Thursday. Sunrise Realty Trust has a 1-year low of $7.80 and a 1-year high of $15.74. The business’s 50-day moving average price is $10.78 and its two-hundred day moving average price is $12.86.

Sunrise Realty Trust (NASDAQ:SUNS) last released its quarterly earnings data on Thursday, March 6th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $3.45 million for the quarter, compared to the consensus estimate of $3.25 million. Analysts predict that Sunrise Realty Trust will post 0.58 earnings per share for the current year.

Insider Buying and Selling

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum bought 25,000 shares of Sunrise Realty Trust stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $11.06 per share, for a total transaction of $276,500.00. Following the completion of the acquisition, the chairman now owns 2,469,282 shares of the company’s stock, valued at $27,310,258.92. This trade represents a 1.02 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders bought 1,243,033 shares of company stock worth $14,701,913. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunrise Realty Trust

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

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.