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

Sunrise Realty Trust (NASDAQ:SUNS)‘s stock had its “outperform” rating reiterated by investment analysts at Raymond James in a report issued on Monday,Benzinga reports. They currently have a $15.00 price objective on the stock, down from their previous price objective of $17.50. Raymond James’ price target points to a potential upside of 26.37% from the company’s previous close.

Sunrise Realty Trust Price Performance

Shares of NASDAQ:SUNS opened at $11.87 on Monday. The stock’s 50 day moving average price is $13.54. Sunrise Realty Trust has a 12-month low of $8.11 and a 12-month high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.25 earnings per share (EPS) 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. As a group, sell-side analysts predict that Sunrise Realty Trust will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunrise Realty Trust

In other news, Chairman Leonard M. Tannenbaum bought 39,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was purchased at an average cost of $13.42 per share, for a total transaction of $523,380.00. Following the completion of the transaction, the chairman now owns 1,373,376 shares of the company’s stock, valued at $18,430,705.92. This trade represents a 2.92 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders have acquired a total of 1,087,429 shares of company stock worth $13,171,696 over the last 90 days. Insiders own 5.70% of the company’s stock.

Institutional Trading of Sunrise Realty Trust

Several institutional investors have recently modified their holdings of SUNS. Nisa Investment Advisors LLC acquired a new position in shares of Sunrise Realty Trust in the third quarter worth approximately $28,000. Barclays PLC bought a new position in Sunrise Realty Trust during the 3rd quarter worth approximately $106,000. Catalyst Capital Advisors LLC acquired a new position in shares of Sunrise Realty Trust in the 3rd quarter worth approximately $125,000. Spire Wealth Management bought a new stake in shares of Sunrise Realty Trust in the 4th quarter valued at $137,000. Finally, JPMorgan Chase & Co. acquired 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.