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

Raymond James restated their outperform rating on shares of Sunrise Realty Trust (NASDAQ:SUNS) in a report issued on Monday,Benzinga reports. They currently have a $15.00 target price on the stock, down from their prior target price of $17.50.

Sunrise Realty Trust Stock Performance

SUNS opened at $11.81 on Monday. The firm’s 50 day moving average price is $13.48. Sunrise Realty Trust has a 52-week low of $8.11 and a 52-week 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 (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $3.18 million for the quarter, compared to analysts’ expectations of $2.50 million. Equities research analysts predict that Sunrise Realty Trust will post 0.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Leonard M. Tannenbaum acquired 1,000,000 shares of Sunrise Realty Trust stock in a transaction on Wednesday, January 29th. The shares were purchased at an average cost of $12.00 per share, for a total transaction of $12,000,000.00. Following the purchase, the chairman now directly owns 2,434,213 shares of the company’s stock, valued at $29,210,556. The trade was a 69.72 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have acquired 1,087,429 shares of company stock worth $13,171,696.

Hedge Funds Weigh In On Sunrise Realty Trust

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