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

Sunrise Realty Trust (NASDAQ:SUNS) had its price target trimmed by Raymond James from $15.00 to $14.50 in a report released on Monday, MarketBeat.com reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also issued reports about the stock. 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 target for the company. Keefe, Bruyette & Woods decreased their price target on shares of Sunrise Realty Trust from $12.75 to $12.25 and set an “outperform” rating for the company in a research report on Monday.

Sunrise Realty Trust Stock Down 1.0 %

NASDAQ:SUNS opened at $10.99 on Monday. Sunrise Realty Trust has a 1-year low of $8.11 and a 1-year high of $15.74. The company has a 50-day moving average of $12.46 and a 200 day moving average of $13.68.

Sunrise Realty Trust (NASDAQ:SUNS) last released its quarterly earnings data on Thursday, March 6th. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $3.45 million during the quarter, compared to analysts’ expectations of $3.25 million. As a group, analysts expect that Sunrise Realty Trust will post 0.58 EPS for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

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

Insider Activity

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum purchased 39,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average price of $13.42 per share, for a total transaction of $523,380.00. Following the acquisition, the chairman now owns 1,373,376 shares in the company, valued at $18,430,705.92. This represents a 2.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have purchased a total of 1,087,429 shares of company stock worth $13,171,696 over the last 90 days. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunrise Realty Trust

Several hedge funds have recently bought and sold shares of SUNS. State Street Corp acquired a new stake in shares of Sunrise Realty Trust during the 3rd quarter worth about $1,788,000. Geode Capital Management LLC acquired a new position in shares of Sunrise Realty Trust in the third quarter valued at approximately $1,785,000. Barclays PLC acquired a new position in shares of Sunrise Realty Trust in the third quarter valued at approximately $106,000. Charles Schwab Investment Management Inc. acquired a new position in Sunrise Realty Trust during the third quarter worth $231,000. Finally, JPMorgan Chase & Co. acquired a new position in Sunrise Realty Trust during the third quarter worth $155,000.

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.