Sunrise Realty Trust (NASDAQ:SUNS) Price Target Lowered to $10.75 at Keefe, Bruyette & Woods

Sunrise Realty Trust (NASDAQ:SUNS) had its target price reduced by equities research analysts at Keefe, Bruyette & Woods from $12.25 to $10.75 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 12.59% from the stock’s current price.

Several other analysts have also recently weighed in on SUNS. Raymond James dropped their price target on Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating for the company in a report on Monday, March 10th. B. Riley assumed coverage on Sunrise Realty Trust in a report on Thursday, February 13th. They set a “buy” rating and a $15.00 target price for the company.

Sunrise Realty Trust Price Performance

Shares of SUNS opened at $9.55 on Monday. The company’s 50-day moving average is $11.49 and its 200-day moving average is $13.28. 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 released its quarterly earnings results on Thursday, March 6th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $3.45 million during the quarter, compared to the consensus estimate of $3.25 million. As a group, equities research analysts anticipate that Sunrise Realty Trust will post 0.58 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Leonard M. Tannenbaum acquired 44,065 shares of Sunrise Realty Trust stock in a transaction on Monday, March 31st. The shares were purchased at an average cost of $10.89 per share, for a total transaction of $479,867.85. Following the completion of the purchase, the chairman now directly owns 2,711,322 shares of the company’s stock, valued at approximately $29,526,296.58. This represents a 1.65 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders purchased 1,243,033 shares of company stock worth $14,701,913. 5.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Castalian Partners LLC acquired a new stake in shares of Sunrise Realty Trust during the fourth quarter valued at about $2,709,000. Geode Capital Management LLC bought a new position in Sunrise Realty Trust during the 3rd quarter worth $1,785,000. State Street Corp acquired a new position in Sunrise Realty Trust during the 3rd quarter worth about $1,788,000. Renaissance Technologies LLC bought a new stake in shares of Sunrise Realty Trust in the 4th quarter valued at about $594,000. Finally, Marshall Wace LLP bought a new position in shares of Sunrise Realty Trust during the fourth quarter worth about $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.