Keefe, Bruyette & Woods Begins Coverage on Sunrise Realty Trust (NASDAQ:SUNS)

Equities researchers at Keefe, Bruyette & Woods began coverage on shares of Sunrise Realty Trust (NASDAQ:SUNS) in a note issued to investors on Tuesday, Marketbeat.com reports. The firm set an “outperform” rating and a $12.75 price target on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 11.16% from the company’s previous close.

Separately, Raymond James reissued an “outperform” rating and set a $15.00 price objective (down from $17.50) on shares of Sunrise Realty Trust in a research note on Monday, February 3rd.

Sunrise Realty Trust Price Performance

Shares of SUNS stock opened at $11.47 on Tuesday. Sunrise Realty Trust has a 12-month low of $8.11 and a 12-month high of $15.74. The business has a 50 day simple moving average of $13.16 and a 200 day simple moving average of $13.66.

Insider Activity

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum bought 1,000,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were purchased at an average cost of $12.00 per share, with a total value of $12,000,000.00. Following the completion of the transaction, the chairman now directly owns 2,434,213 shares of the company’s stock, valued at $29,210,556. This represents a 69.72 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired 1,087,429 shares of company stock worth $13,171,696 over the last quarter. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Sunrise Realty Trust

Several hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP acquired a new stake in shares of Sunrise Realty Trust in the third quarter valued at about $8,875,000. Geode Capital Management LLC raised its stake in shares of Sunrise Realty Trust by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 125,942 shares of the company’s stock valued at $1,773,000 after acquiring an additional 1,887 shares during the last quarter. State Street Corp bought a new position in shares of Sunrise Realty Trust in the third quarter valued at approximately $1,788,000. Los Angeles Capital Management LLC acquired a new stake in shares of Sunrise Realty Trust in the third quarter valued at approximately $372,000. Finally, JPMorgan Chase & Co. grew its holdings in Sunrise Realty Trust by 97.6% during the 4th quarter. JPMorgan Chase & Co. now owns 21,280 shares of the company’s stock worth $300,000 after acquiring an additional 10,511 shares during the period.

About Sunrise Realty Trust

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.