Sunrise Realty Trust’s (SUNS) “Outperform” Rating Reiterated at Raymond James

Raymond James reiterated their outperform rating on shares of Sunrise Realty Trust (NASDAQ:SUNS) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $15.00 target price on the stock, down from their previous target price of $17.50.

Sunrise Realty Trust Stock Down 2.5 %

Shares of SUNS opened at $11.70 on Monday. The business has a 50-day moving average of $13.61. Sunrise Realty Trust has a one year low of $8.11 and a one year high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $3.18 million for the quarter, compared to the consensus estimate of $2.50 million. Sell-side analysts predict that Sunrise Realty Trust will post 0.64 EPS for the current fiscal year.

Insider Activity at Sunrise Realty Trust

In related news, Chairman Leonard M. Tannenbaum acquired 47,810 shares of Sunrise Realty Trust stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average price of $13.39 per share, with a total value of $640,175.90. Following the transaction, the chairman now directly owns 1,318,573 shares in the company, valued at approximately $17,655,692.47. This represents a 3.76 % increase in their ownership of the stock. The acquisition was disclosed in a legal 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 in the last three months.

Hedge Funds Weigh In On Sunrise Realty Trust

Several large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC bought a new stake in Sunrise Realty Trust during the 3rd quarter valued at about $28,000. Barclays PLC purchased a new position in Sunrise Realty Trust in the 3rd quarter worth approximately $106,000. Catalyst Capital Advisors LLC bought a new position in Sunrise Realty Trust in the 3rd quarter valued at approximately $125,000. Spire Wealth Management bought a new stake in shares of Sunrise Realty Trust in the 4th quarter worth $137,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Sunrise Realty Trust in the third quarter worth $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.