Sunrise Realty Trust (NASDAQ:SUNS) Stock Gets Price Target Trim from Keefe, Bruyette & Woods

Sunrise Realty Trust (NASDAQ:SUNS) had its target price trimmed by Keefe, Bruyette & Woods from $8.00 to $6.50 in a research report report published on Friday,Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other research analysts have also weighed in on the company. Zacks Research upgraded Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings raised Sunrise Realty Trust from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. Finally, New Street Research upgraded Sunrise Realty Trust from a “sell” rating to a “neutral” rating in a research report on Wednesday, September 23rd. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $6.50.

Sunrise Realty Trust Stock Performance

SUNS opened at $5.85 on Friday. The stock has a market capitalization of $79.09 million, a price-to-earnings ratio of 6.03, a PEG ratio of 0.45 and a beta of 1.04. The company has a fifty day moving average of $7.28 and a 200 day moving average of $7.79. Sunrise Realty Trust has a fifty-two week low of $5.77 and a fifty-two week high of $10.45.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The company had revenue of $8.56 million during the quarter, compared to the consensus estimate of $7.17 million. Sunrise Realty Trust had a net margin of 53.33% and a return on equity of 8.25%. On average, equities research analysts forecast that Sunrise Realty Trust will post 1.17 earnings per share for the current year.

Sunrise Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 20.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Sunrise Realty Trust’s dividend payout ratio (DPR) is presently 123.71%.

Insider Activity at Sunrise Realty Trust

In related news, Chairman Leonard Tannenbaum bought 50,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was purchased at an average price 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. This trade represents a 1.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders purchased 118,822 shares of company stock valued at $905,787. 28.50% of the stock is currently owned by insiders.

Institutional Trading of Sunrise Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna International Group LLP bought a new stake in Sunrise Realty Trust in the second quarter worth $233,000. Hsbc Holdings PLC purchased a new position in Sunrise Realty Trust during the second quarter worth $133,000. BlackRock Inc. purchased a new position in Sunrise Realty Trust during the second quarter worth $1,038,000. Quantinno Capital Management LP increased its position in Sunrise Realty Trust by 22.9% during the first quarter. Quantinno Capital Management LP now owns 50,951 shares of the company’s stock valued at $391,000 after acquiring an additional 9,510 shares during the last quarter. Finally, GatePass Capital LLC bought a new position in Sunrise Realty Trust during the first quarter valued at $588,000.

About Sunrise Realty Trust

Sunrise Realty Trust, Inc is a real estate investment trust focused on commercial real estate lending. The company seeks to generate income primarily by originating, acquiring and managing loans and other debt investments secured by commercial real estate.

Its investment activities may include senior mortgage loans, subordinate or mezzanine loans and other real estate-related credit investments. These investments are generally secured by commercial properties and are designed to provide financing to property owners and investors.

Sunrise Realty Trust operates in the United States and is externally managed.