Keefe, Bruyette & Woods Lowers Sunrise Realty Trust (NASDAQ:SUNS) Price Target to $10.75

Sunrise Realty Trust (NASDAQ:SUNS) had its price objective cut by equities researchers at Keefe, Bruyette & Woods from $12.25 to $10.75 in a research note issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 28.43% from the company’s current price.

Other equities analysts have also issued research reports about the company. B. Riley began coverage on Sunrise Realty Trust in a research note on Thursday, February 13th. They set a “buy” rating and a $15.00 target price on the stock. Raymond James reduced their price target on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating on the stock in a research report on Monday, March 10th.

Sunrise Realty Trust Price Performance

Sunrise Realty Trust stock opened at $8.37 on Monday. The company’s 50 day simple moving average is $11.30 and its 200-day simple moving average is $13.17. Sunrise Realty Trust has a 1 year low of $8.11 and a 1 year high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $3.45 million during the quarter, compared to analysts’ expectations of $3.25 million. Analysts predict that Sunrise Realty Trust will post 0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Leonard M. Tannenbaum purchased 25,000 shares of the stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $11.06 per share, for a total transaction of $276,500.00. Following the acquisition, the chairman now directly owns 2,469,282 shares of the company’s stock, valued at approximately $27,310,258.92. The trade was a 1.02 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 1,243,033 shares of company stock worth $14,701,913 in the last quarter. 5.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunrise Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of SUNS. Castalian Partners LLC purchased a new position in Sunrise Realty Trust in the fourth quarter valued at $2,709,000. Geode Capital Management LLC boosted its position in shares of Sunrise Realty Trust by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 125,942 shares of the company’s stock worth $1,773,000 after acquiring an additional 1,887 shares in the last quarter. State Street Corp purchased a new position in shares of Sunrise Realty Trust in the 3rd quarter valued at about $1,788,000. Renaissance Technologies LLC purchased a new position in shares of Sunrise Realty Trust in the 4th quarter valued at about $594,000. Finally, Marshall Wace LLP acquired a new stake in shares of Sunrise Realty Trust during the 4th quarter worth about $475,000.

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.