Sunrise Realty Trust (NASDAQ:SUNS) Upgraded by Zacks Research to Hold Rating

Sunrise Realty Trust (NASDAQ:SUNS) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also commented on SUNS. Wall Street Zen raised shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Keefe, Bruyette & Woods raised their target price on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the company a “market perform” rating in a research note on Monday, May 18th. Finally, Weiss Ratings lowered shares of Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 16th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $8.00.

Sunrise Realty Trust Trading Down 1.7%

Shares of Sunrise Realty Trust stock opened at $7.86 on Tuesday. The firm has a market capitalization of $106.27 million, a P/E ratio of 7.94, a P/E/G ratio of 0.61 and a beta of 1.02. The business has a fifty day simple moving average of $8.32 and a two-hundred day simple moving average of $8.48. Sunrise Realty Trust has a 12 month low of $7.34 and a 12 month high of $11.78.

Sunrise Realty Trust (NASDAQ:SUNS) last released its earnings results on Thursday, May 14th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $10.27 million for the quarter, compared to the consensus estimate of $6.18 million. Sunrise Realty Trust had a net margin of 54.82% and a return on equity of 8.33%. Analysts predict that Sunrise Realty Trust will post 1.2 earnings per share for the current year.

Hedge Funds Weigh In On Sunrise Realty Trust

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in Sunrise Realty Trust by 60.4% during the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock valued at $73,000 after purchasing an additional 1,952 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Sunrise Realty Trust in the first quarter worth about $139,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Sunrise Realty Trust by 90.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company’s stock worth $67,000 after buying an additional 2,880 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Sunrise Realty Trust by 53.5% in the first quarter. Goldman Sachs Group Inc. now owns 27,911 shares of the company’s stock worth $309,000 after buying an additional 9,732 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Sunrise Realty Trust by 22.5% during the first quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock valued at $108,000 after buying an additional 1,794 shares during the last quarter.

About Sunrise Realty Trust

Sunrise Realty Trust is a real estate investment trust (REIT) that focuses on acquiring, owning and leasing convenience store and fuel retail properties under long-term net leases. The company targets sale-leaseback transactions and joint-venture investments with high-credit tenants in the convenience retail sector. Sunrise Realty Trust’s portfolio comprises single-tenant properties that benefit from predictable cash flows, structured lease agreements and tenant-driven site improvements, providing exposure to a segment of the retail real estate market that aligns closely with consumer essentials.

The company’s primary business activities include sourcing and underwriting new property investments, negotiating sale-leaseback and ground lease transactions, and managing asset performance throughout the lease term.