Sunrise Realty Trust (NASDAQ:SUNS) Price Target Cut to $12.25 by Analysts at Keefe, Bruyette & Woods

Sunrise Realty Trust (NASDAQ:SUNS) had its price objective reduced by Keefe, Bruyette & Woods from $12.75 to $12.25 in a report released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently weighed in on SUNS. B. Riley started coverage on shares of Sunrise Realty Trust in a research note on Thursday, February 13th. They issued a “buy” rating and a $15.00 target price for the company. Raymond James reiterated an “outperform” rating and issued a $15.00 target price (down previously from $17.50) on shares of Sunrise Realty Trust in a research note on Monday, February 3rd.

Sunrise Realty Trust Stock Down 1.0 %

Shares of SUNS stock opened at $10.99 on Monday. Sunrise Realty Trust has a 52 week low of $8.11 and a 52 week high of $15.74. The firm’s 50-day simple moving average is $12.46 and its two-hundred day simple moving average is $13.68.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its earnings results on Thursday, March 6th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $3.45 million during the quarter, compared to analysts’ expectations of $3.25 million. Research analysts expect that Sunrise Realty Trust will post 0.58 earnings per share for the current year.

Sunrise Realty Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.20 annualized dividend and a yield of 10.92%.

Insider Activity at Sunrise Realty Trust

In other news, Chairman Leonard M. Tannenbaum acquired 39,000 shares of Sunrise Realty Trust stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average price of $13.42 per share, with a total value of $523,380.00. Following the completion of the purchase, the chairman now owns 1,373,376 shares in the company, valued at approximately $18,430,705.92. The trade was a 2.92 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders bought 1,087,429 shares of company stock valued at $13,171,696. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Sunrise Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its stake in 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 worth $41,000 after buying an additional 2,279 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of 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 worth $73,000 after acquiring an additional 1,952 shares during the last quarter. Barclays PLC bought a new stake in shares of Sunrise Realty Trust in the 3rd quarter worth approximately $106,000. Spire Wealth Management bought a new stake in shares of Sunrise Realty Trust in the 4th quarter worth approximately $137,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Sunrise Realty Trust in the 3rd quarter worth approximately $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.