Sunrise Realty Trust (NASDAQ:SUNS) Cut to Strong Sell at Zacks Research

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

SUNS has been the subject of several other research reports. Weiss Ratings upgraded shares of Sunrise Realty Trust from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. Wall Street Zen upgraded Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the stock a “market perform” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Sunrise Realty Trust currently has an average rating of “Sell” and an average target price of $8.00.

Sunrise Realty Trust Stock Performance

Shares of SUNS stock opened at $7.90 on Monday. Sunrise Realty Trust has a 52 week low of $7.34 and a 52 week high of $11.78. The company has a market capitalization of $106.81 million, a price-to-earnings ratio of 7.98, a PEG ratio of 0.63 and a beta of 0.98. The company has a 50-day simple moving average of $8.14 and a 200 day simple moving average of $8.74.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its earnings results on Thursday, May 14th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $10.27 million for the quarter, compared to analyst estimates of $6.18 million. Sunrise Realty Trust had a return on equity of 8.33% and a net margin of 54.82%. Sell-side analysts forecast that Sunrise Realty Trust will post 1.22 EPS for the current year.

Hedge Funds Weigh In On Sunrise Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantinno Capital Management LP grew its stake in shares of Sunrise Realty Trust by 22.9% in the first quarter. Quantinno Capital Management LP now owns 50,951 shares of the company’s stock worth $391,000 after purchasing an additional 9,510 shares during the last quarter. GatePass Capital LLC acquired a new position in shares of Sunrise Realty Trust in the first quarter worth approximately $588,000. Hsbc Holdings PLC bought a new stake in Sunrise Realty Trust in the first quarter valued at approximately $87,000. Osaic Holdings Inc. increased its position in Sunrise Realty Trust by 7.1% during the 4th quarter. Osaic Holdings Inc. now owns 16,947 shares of the company’s stock valued at $160,000 after purchasing an additional 1,127 shares during the period. Finally, Corsair Capital Management L.P. raised its holdings in Sunrise Realty Trust by 407.0% during the 4th quarter. Corsair Capital Management L.P. now owns 50,704 shares of the company’s stock worth $478,000 after purchasing an additional 40,704 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.