Sunrise Realty Trust (NASDAQ:SUNS) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Sunrise Realty Trust (NASDAQ:SUNS) from a hold rating to a strong sell rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other brokerages also recently issued reports on SUNS. Weiss Ratings raised shares of Sunrise Realty Trust from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday. Wall Street Zen raised Sunrise Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods lifted their target price on 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. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell” and a consensus price target of $8.00.

Sunrise Realty Trust Price Performance

Shares of NASDAQ:SUNS opened at $7.90 on Monday. Sunrise Realty Trust has a 1 year low of $7.34 and a 1 year high of $11.78. The company has a market cap of $106.81 million, a PE ratio of 7.98, a P/E/G ratio of 0.63 and a beta of 0.98. The stock’s 50-day moving average is $8.14 and its 200 day moving average is $8.74.

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

Sunrise Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.20 dividend on an annualized basis and a yield of 15.2%. Sunrise Realty Trust’s dividend payout ratio (DPR) is presently 121.21%.

Hedge Funds Weigh In On Sunrise Realty Trust

Several large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Sunrise Realty Trust by 90.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company’s stock worth $67,000 after purchasing an additional 2,880 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of 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 valued at $73,000 after buying an additional 1,952 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Sunrise Realty Trust during the 1st quarter valued at $87,000. Wells Fargo & Company MN boosted its holdings in Sunrise Realty Trust by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 11,394 shares of the company’s stock worth $107,000 after buying an additional 3,602 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Sunrise Realty Trust by 22.5% in the 1st 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 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.