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

Zacks Research upgraded shares of Sunrise Realty Trust (NASDAQ:SUNS) from a strong sell rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Wall Street Zen raised Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded shares of Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the company a “market perform” rating in a research report on Monday, May 18th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $8.00.

Sunrise Realty Trust Price Performance

Sunrise Realty Trust stock opened at $7.86 on Tuesday. The company has a market capitalization of $106.27 million, a price-to-earnings ratio of 7.94, a PEG ratio of 0.61 and a beta of 1.02. The company’s fifty day moving average price is $8.32 and its two-hundred day moving average price is $8.48. Sunrise Realty Trust has a one year low of $7.34 and a one year high of $11.78.

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, beating the consensus estimate of $0.29 by $0.06. Sunrise Realty Trust had a return on equity of 8.33% and a net margin of 54.82%.The firm had revenue of $10.27 million during the quarter, compared to the consensus estimate of $6.18 million. As a group, sell-side analysts anticipate that Sunrise Realty Trust will post 1.2 earnings per share for the current year.

Sunrise Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.30 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.20 dividend on an annualized basis and a yield of 15.3%. Sunrise Realty Trust’s payout ratio is 121.21%.

Institutional Investors Weigh In On Sunrise Realty Trust

A number of large investors have recently bought and sold shares of the business. Quantinno Capital Management LP raised its position in Sunrise Realty Trust by 22.9% in the 1st quarter. Quantinno Capital Management LP now owns 50,951 shares of the company’s stock valued at $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 during the first quarter worth approximately $588,000. Hsbc Holdings PLC acquired a new stake in shares of Sunrise Realty Trust in the first quarter valued at approximately $87,000. Osaic Holdings Inc. increased its stake in shares of Sunrise Realty Trust by 7.1% in the 4th quarter. Osaic Holdings Inc. now owns 16,947 shares of the company’s stock valued at $160,000 after buying an additional 1,127 shares during the period. Finally, Corsair Capital Management L.P. increased its position in Sunrise Realty Trust by 407.0% in the fourth 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 period.

About Sunrise Realty Trust

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.