Sunrise Realty Trust (NASDAQ:SUNS) Posts Earnings Results, Misses Expectations By $0.02 EPS

Sunrise Realty Trust (NASDAQ:SUNS) issued its earnings results on Thursday. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02), Zacks reports.

Sunrise Realty Trust Stock Down 2.8 %

NASDAQ:SUNS traded down $0.33 during mid-day trading on Thursday, reaching $11.58. The company’s stock had a trading volume of 38,750 shares, compared to its average volume of 148,933. Sunrise Realty Trust has a 1 year low of $8.11 and a 1 year high of $15.74. The stock has a fifty day moving average of $12.60 and a 200-day moving average of $13.70.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SUNS. B. Riley began coverage on shares of Sunrise Realty Trust in a research note on Thursday, February 13th. They set a “buy” rating and a $15.00 target price for the company. Keefe, Bruyette & Woods initiated coverage on shares of Sunrise Realty Trust in a research note on Tuesday, February 11th. They set an “outperform” rating and a $12.75 target price for the company. Finally, Raymond James reaffirmed an “outperform” rating and issued a $15.00 price objective (down from $17.50) on shares of Sunrise Realty Trust in a research note on Monday, February 3rd.

Insider Buying and Selling

In other news, Chairman Leonard M. Tannenbaum bought 1,000,000 shares of Sunrise Realty Trust stock in a transaction on Wednesday, January 29th. The stock was acquired at an average cost of $12.00 per share, for a total transaction of $12,000,000.00. Following the completion of the acquisition, the chairman now owns 2,434,213 shares of the company’s stock, valued at $29,210,556. This trade represents a 69.72 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 1,087,429 shares of company stock valued at $13,171,696 over the last three months. 5.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sunrise Realty Trust

A hedge fund recently raised its stake in Sunrise Realty Trust stock. Bank of America Corp DE boosted its position in Sunrise Realty Trust, Inc. (NASDAQ:SUNS) by 60.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,183 shares of the company’s stock after purchasing an additional 1,952 shares during the quarter. Bank of America Corp DE owned approximately 0.07% of Sunrise Realty Trust worth $73,000 at the end of the most recent reporting 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.