Sunrise Realty Trust (NASDAQ:SUNS) Upgraded by New Street Research to “Neutral” Rating

Sunrise Realty Trust (NASDAQ:SUNS) was upgraded by analysts at New Street Research from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports.

SUNS has been the topic of a number of other research reports. Zacks Research raised Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings downgraded Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 16th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sunrise Realty Trust presently has a consensus rating of “Reduce” and a consensus price target of $8.00.

Sunrise Realty Trust Trading Up 1.1%

Shares of SUNS traded up $0.08 during trading hours on Wednesday, reaching $7.69. The company had a trading volume of 17,459 shares, compared to its average volume of 95,581. The company has a market capitalization of $103.97 million, a price-to-earnings ratio of 7.98, a PEG ratio of 0.56 and a beta of 1.00. The firm has a 50 day simple moving average of $7.69 and a 200-day simple moving average of $8.00. Sunrise Realty Trust has a 12-month low of $7.19 and a 12-month high of $11.09.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Sunrise Realty Trust had a return on equity of 8.25% and a net margin of 53.33%.The firm had revenue of $8.56 million for the quarter, compared to analysts’ expectations of $7.17 million. Sell-side analysts forecast that Sunrise Realty Trust will post 1.19 earnings per share for the current year.

Insider Buying and Selling at Sunrise Realty Trust

In related news, Chairman Leonard Tannenbaum purchased 50,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were acquired at an average cost of $7.50 per share, for a total transaction of $375,000.00. Following the transaction, the chairman owned 3,142,719 shares of the company’s stock, valued at $23,570,392.50. This trade represents a 1.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 118,822 shares of company stock worth $905,787. 28.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunrise Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Sunrise Realty Trust during the second quarter valued at $1,038,000. GatePass Capital LLC acquired a new stake in Sunrise Realty Trust during the 1st quarter worth about $588,000. Quantinno Capital Management LP lifted its stake in Sunrise Realty Trust by 22.9% during the first quarter. Quantinno Capital Management LP now owns 50,951 shares of the company’s stock valued at $391,000 after buying an additional 9,510 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Sunrise Realty Trust in the second quarter worth about $233,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Sunrise Realty Trust in the first quarter worth approximately $87,000.

Sunrise Realty Trust Company Profile

Sunrise Realty Trust, Inc is a real estate investment trust focused on commercial real estate debt investments. The company primarily originates, acquires and manages mortgage loans secured by commercial properties, seeking to generate income from interest payments and related investment activities.

Its portfolio is centered on senior-secured commercial real estate loans, including financing for properties such as multifamily, industrial, office, retail and other income-producing real estate.