Raymond James Reaffirms Outperform Rating for Sunrise Realty Trust (NASDAQ:SUNS)

Sunrise Realty Trust (NASDAQ:SUNS)‘s stock had its “outperform” rating restated by investment analysts at Raymond James in a report released on Monday,Benzinga reports. They presently have a $15.00 price objective on the stock, down from their prior price objective of $17.50. Raymond James’ price objective would suggest a potential upside of 27.33% from the company’s previous close.

Sunrise Realty Trust Price Performance

NASDAQ SUNS opened at $11.78 on Monday. Sunrise Realty Trust has a 1-year low of $8.11 and a 1-year high of $15.74. The firm has a 50-day moving average of $13.67.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $3.18 million during the quarter, compared to the consensus estimate of $2.50 million. Equities research analysts forecast that Sunrise Realty Trust will post 0.64 earnings per share for the current year.

Insider Transactions at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average price of $12.00 per share, for a total transaction of $12,000,000.00. Following the completion of the acquisition, the chairman now directly owns 2,434,213 shares in the company, valued at $29,210,556. The trade was a 69.72 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders bought 1,087,429 shares of company stock worth $13,171,696.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP bought a new position in Sunrise Realty Trust in the third quarter worth $8,875,000. Geode Capital Management LLC purchased a new position in Sunrise Realty Trust during the 3rd quarter valued at about $1,785,000. State Street Corp bought a new stake in Sunrise Realty Trust during the third quarter worth about $1,788,000. Los Angeles Capital Management LLC purchased a new stake in Sunrise Realty Trust in the third quarter worth about $372,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Sunrise Realty Trust during the third quarter valued at approximately $231,000.

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.