Sunrise Realty Trust (NASDAQ:SUNS) Rating Increased to Hold at Zacks Research

Sunrise Realty Trust (NASDAQ:SUNS) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Wall Street Zen upgraded Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d)” rating on shares of Sunrise Realty Trust in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on Sunrise Realty Trust from $7.75 to $8.00 and gave the stock a “market perform” rating in a research note on Monday. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $8.00.

Sunrise Realty Trust Stock Performance

Shares of SUNS stock opened at $7.96 on Monday. The company has a market cap of $107.62 million, a P/E ratio of 8.04, a PEG ratio of 0.60 and a beta of 0.77. Sunrise Realty Trust has a fifty-two week low of $7.34 and a fifty-two week high of $11.78. The stock has a 50 day simple moving average of $7.95 and a two-hundred day simple moving average of $8.99.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $10.27 million during the quarter, compared to the consensus estimate of $6.18 million. Sunrise Realty Trust had a return on equity of 8.33% and a net margin of 54.82%. On average, research analysts predict that Sunrise Realty Trust will post 1.22 earnings per share for the current year.

Hedge Funds Weigh In On Sunrise Realty Trust

A number of hedge funds have recently made changes to their positions in SUNS. Bank of America Corp DE grew its holdings in 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 worth $73,000 after acquiring an additional 1,952 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Sunrise Realty Trust in the first quarter worth approximately $139,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Sunrise Realty Trust by 90.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company’s stock valued at $67,000 after purchasing an additional 2,880 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Sunrise Realty Trust by 53.5% in the first quarter. Goldman Sachs Group Inc. now owns 27,911 shares of the company’s stock valued at $309,000 after acquiring an additional 9,732 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Sunrise Realty Trust by 22.5% in the first quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock worth $108,000 after buying an additional 1,794 shares during the last quarter.

Sunrise Realty Trust Company Profile

Sunrise Realty Trust is a real estate investment trust (REIT) that focuses on acquiring, owning and leasing convenience store and fuel retail properties under long-term net leases. The company targets sale-leaseback transactions and joint-venture investments with high-credit tenants in the convenience retail sector. Sunrise Realty Trust’s portfolio comprises single-tenant properties that benefit from predictable cash flows, structured lease agreements and tenant-driven site improvements, providing exposure to a segment of the retail real estate market that aligns closely with consumer essentials.

The company’s primary business activities include sourcing and underwriting new property investments, negotiating sale-leaseback and ground lease transactions, and managing asset performance throughout the lease term.