33,705 Shares in Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Purchased by Marshall Wace LLP

Marshall Wace LLP acquired a new stake in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) in the fourth quarter, Holdings Channel reports. The fund acquired 33,705 shares of the company’s stock, valued at approximately $475,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of Sunrise Realty Trust by 14.8% during the fourth quarter. Barclays PLC now owns 8,484 shares of the company’s stock valued at $120,000 after acquiring an additional 1,092 shares during the period. Geode Capital Management LLC raised its stake in Sunrise Realty Trust by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 125,942 shares of the company’s stock valued at $1,773,000 after purchasing an additional 1,887 shares during the period. Spire Wealth Management purchased a new stake in shares of Sunrise Realty Trust in the fourth quarter valued at $137,000. JPMorgan Chase & Co. boosted its position in shares of Sunrise Realty Trust by 97.6% in the fourth quarter. JPMorgan Chase & Co. now owns 21,280 shares of the company’s stock worth $300,000 after buying an additional 10,511 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Sunrise Realty Trust during the fourth quarter valued at $158,000.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SUNS shares. B. Riley initiated coverage on Sunrise Realty Trust in a research note on Thursday, February 13th. They issued a “buy” rating and a $15.00 price objective for the company. Keefe, Bruyette & Woods reduced their price target on shares of Sunrise Realty Trust from $12.25 to $10.75 and set an “outperform” rating for the company in a research report on Monday, April 7th. Raymond James decreased their price target on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating for the company in a report on Monday, March 10th. Finally, Oppenheimer started coverage on shares of Sunrise Realty Trust in a research note on Thursday, April 17th. They issued an “outperform” rating and a $12.00 price objective on the stock. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sunrise Realty Trust has a consensus rating of “Buy” and a consensus price target of $13.06.

Sunrise Realty Trust Stock Down 0.2 %

SUNS opened at $10.81 on Friday. Sunrise Realty Trust, Inc. has a fifty-two week low of $7.80 and a fifty-two week high of $15.74. The business has a 50-day moving average of $10.45 and a 200-day moving average of $12.53.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $3.45 million during the quarter, compared to analyst estimates of $3.25 million. As a group, sell-side analysts anticipate that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 11.10%. The ex-dividend date was Monday, March 31st.

Insider Buying and Selling at Sunrise Realty Trust

In related news, Chairman Leonard M. Tannenbaum acquired 80,514 shares of the stock in a transaction dated Wednesday, March 19th. The shares were acquired at an average price of $11.26 per share, with a total value of $906,587.64. Following the acquisition, the chairman now owns 2,623,803 shares in the company, valued at approximately $29,544,021.78. The trade was a 3.17 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 291,927 shares of company stock worth $3,211,340 over the last three months. Corporate insiders own 5.70% of the company’s stock.

Sunrise Realty Trust 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.