Sunrise Realty Trust (NASDAQ:SUNS) Stock Price Target Cut by Keefe, Bruyette & Woods

Sunrise Realty Trust (NASDAQ:SUNS) had its target price cut by research analysts at Keefe, Bruyette & Woods from $8.00 to $6.50 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 8.33% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. New Street Research raised Sunrise Realty Trust from a “sell” rating to a “neutral” rating in a report on Wednesday, September 23rd. Zacks Research raised Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings upgraded Sunrise Realty Trust from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, October 2nd. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sunrise Realty Trust currently has an average rating of “Reduce” and a consensus price target of $6.50.

Sunrise Realty Trust Stock Up 0.2%

Sunrise Realty Trust stock traded up $0.01 during midday trading on Friday, hitting $6.00. 25,144 shares of the stock were exchanged, compared to its average volume of 96,206. Sunrise Realty Trust has a 52-week low of $5.77 and a 52-week high of $10.45. The stock has a market capitalization of $81.10 million, a price-to-earnings ratio of 6.19, a price-to-earnings-growth ratio of 0.47 and a beta of 1.04. The business’s 50-day moving average price is $7.32 and its 200-day moving average price is $7.81.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Sunrise Realty Trust had a net margin of 53.33% and a return on equity of 8.25%. The firm had revenue of $8.56 million during the quarter, compared to analysts’ expectations of $7.17 million. On average, sell-side analysts predict that Sunrise Realty Trust will post 1.17 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Leonard Tannenbaum purchased 50,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were purchased at an average price of $7.50 per share, with a total value of $375,000.00. Following the transaction, the chairman directly owned 3,142,719 shares of the company’s stock, valued at approximately $23,570,392.50. This represents a 1.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired 118,822 shares of company stock valued at $905,787 in the last 90 days. Insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Sunrise Realty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its holdings 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 purchasing an additional 9,510 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Sunrise Realty Trust in the second quarter worth about $133,000. Susquehanna International Group LLP bought a new stake in shares of Sunrise Realty Trust in the second quarter valued at approximately $233,000. GatePass Capital LLC bought a new stake in shares of Sunrise Realty Trust in the first quarter valued at approximately $588,000. Finally, BlackRock Inc. bought a new stake in shares of Sunrise Realty Trust in the second quarter valued at approximately $1,038,000.

Sunrise Realty Trust Company Profile

Sunrise Realty Trust, Inc is a real estate investment trust focused on commercial real estate lending. The company seeks to generate income primarily by originating, acquiring and managing loans and other debt investments secured by commercial real estate.

Its investment activities may include senior mortgage loans, subordinate or mezzanine loans and other real estate-related credit investments. These investments are generally secured by commercial properties and are designed to provide financing to property owners and investors.

Sunrise Realty Trust operates in the United States and is externally managed.