Raymond James Cuts Sunrise Realty Trust (NASDAQ:SUNS) Price Target to $14.50

Sunrise Realty Trust (NASDAQ:SUNS) had its price target dropped by research analysts at Raymond James from $15.00 to $14.50 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price objective points to a potential upside of 27.94% from the company’s previous close.

A number of other research firms also recently weighed in on SUNS. Keefe, Bruyette & Woods cut their target price on Sunrise Realty Trust from $12.75 to $12.25 and set an “outperform” rating for the company in a research report on Monday. B. Riley started coverage on shares of Sunrise Realty Trust in a research report on Thursday, February 13th. They set a “buy” rating and a $15.00 price objective for the company.

Sunrise Realty Trust Price Performance

Sunrise Realty Trust stock traded up $0.23 during midday trading on Monday, hitting $11.33. The company’s stock had a trading volume of 34,806 shares, compared to its average volume of 156,796. The company has a 50-day moving average price of $12.46 and a two-hundred day moving average price of $13.68. Sunrise Realty Trust has a 1-year low of $8.11 and a 1-year 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 analysts’ consensus estimates of $0.30. The business had revenue of $3.45 million during the quarter, compared to analyst estimates of $3.25 million. Analysts forecast that Sunrise Realty Trust will post 0.58 EPS for the current year.

Insider Buying and Selling at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum purchased 47,810 shares of the stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $13.39 per share, with a total value of $640,175.90. Following the acquisition, the chairman now owns 1,318,573 shares of the company’s stock, valued at approximately $17,655,692.47. This represents a 3.76 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have acquired 1,087,429 shares of company stock valued at $13,171,696. 5.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SUNS. Tower Research Capital LLC TRC boosted its stake in shares of Sunrise Realty Trust by 353.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock valued at $41,000 after purchasing an additional 2,279 shares in the last quarter. Bank of America Corp DE lifted its stake in Sunrise Realty Trust by 60.4% in the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock valued at $73,000 after purchasing an additional 1,952 shares during the last quarter. Barclays PLC acquired a new stake in Sunrise Realty Trust in the third quarter valued at approximately $106,000. Spire Wealth Management bought a new stake in shares of Sunrise Realty Trust during the fourth quarter worth $137,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Sunrise Realty Trust during the third quarter worth $155,000.

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.