Sunrise Realty Trust (NASDAQ:SUNS) Upgraded at New Street Research

New Street Research upgraded shares of Sunrise Realty Trust (NASDAQ:SUNS) from a sell rating to a neutral rating in a report published on Wednesday morning, Marketbeat reports.

A number of other analysts also recently issued reports on SUNS. Weiss Ratings downgraded shares of Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 16th. Zacks Research raised Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Sunrise Realty Trust presently has a consensus rating of “Reduce” and an average price target of $8.00.

Sunrise Realty Trust Trading Down 0.6%

SUNS stock opened at $7.19 on Wednesday. The company’s 50 day moving average is $7.62 and its 200 day moving average is $7.97. The stock has a market cap of $97.21 million, a price-to-earnings ratio of 7.41, a price-to-earnings-growth ratio of 0.55 and a beta of 1.00. Sunrise Realty Trust has a 1-year low of $7.14 and a 1-year high of $11.06.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Sunrise Realty Trust had a net margin of 53.33% and a return on equity of 8.25%. The company had revenue of $8.56 million for the quarter, compared to the consensus estimate of $7.17 million. As a group, sell-side analysts forecast that Sunrise Realty Trust will post 1.19 EPS for the current fiscal year.

Sunrise Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.20 annualized dividend and a dividend yield of 16.7%. Sunrise Realty Trust’s dividend payout ratio (DPR) is 123.71%.

Insider Activity at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard Tannenbaum acquired 50,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was purchased at an average cost of $7.50 per share, for a total transaction of $375,000.00. Following the acquisition, the chairman owned 3,142,719 shares in the company, valued at $23,570,392.50. The trade was a 1.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders have purchased 118,822 shares of company stock worth $905,787 over the last quarter. Company insiders own 28.50% of the company’s stock.

Hedge Funds Weigh In On Sunrise Realty Trust

Large investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC bought a new stake in Sunrise Realty Trust in the second quarter worth $133,000. Susquehanna International Group LLP purchased a new position in shares of Sunrise Realty Trust in the second quarter worth about $233,000. Quantinno Capital Management LP increased its holdings in shares of Sunrise Realty Trust by 22.9% in the first quarter. Quantinno Capital Management LP now owns 50,951 shares of the company’s stock worth $391,000 after buying an additional 9,510 shares during the period. GatePass Capital LLC bought a new stake in shares of Sunrise Realty Trust in the 1st quarter valued at about $588,000. Finally, BlackRock Inc. bought a new stake in shares of Sunrise Realty Trust in the 2nd quarter valued at about $1,038,000.

About Sunrise Realty Trust

Sunrise Realty Trust, Inc is a real estate investment trust focused on commercial real estate debt investments. The company primarily originates, acquires and manages mortgage loans secured by commercial properties, seeking to generate income from interest payments and related investment activities.

Its portfolio is centered on senior-secured commercial real estate loans, including financing for properties such as multifamily, industrial, office, retail and other income-producing real estate.