Keefe, Bruyette & Woods Lowers Sunrise Realty Trust (NASDAQ:SUNS) Price Target to $10.75

Sunrise Realty Trust (NASDAQ:SUNS) had its price target decreased by Keefe, Bruyette & Woods from $12.25 to $10.75 in a research report report published on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other research firms have also recently commented on SUNS. Raymond James decreased their target price on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating on the stock in a research report on Monday, March 10th. B. Riley initiated coverage on Sunrise Realty Trust in a research report on Thursday, February 13th. They issued a “buy” rating and a $15.00 price target on the stock.

Sunrise Realty Trust Trading Up 6.8 %

Shares of NASDAQ:SUNS opened at $8.94 on Monday. Sunrise Realty Trust has a twelve month low of $8.09 and a twelve month high of $15.74. The company’s 50 day moving average is $11.18 and its 200 day moving average is $13.10.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $3.45 million for the quarter, compared to analysts’ expectations of $3.25 million. As a group, research analysts expect that Sunrise Realty Trust will post 0.58 earnings per share for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 13.42%. The ex-dividend date of this dividend is Monday, March 31st.

Insider Buying and Selling

In related news, Chairman Leonard M. Tannenbaum purchased 1,000,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was purchased at an average price of $12.00 per share, for a total transaction of $12,000,000.00. Following the acquisition, the chairman now directly owns 2,434,213 shares in the company, valued at $29,210,556. The trade was a 69.72 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders purchased 1,243,033 shares of company stock valued at $14,701,913. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Sunrise Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of SUNS. Barclays PLC raised its position in shares of Sunrise Realty Trust by 14.8% during the 4th quarter. Barclays PLC now owns 8,484 shares of the company’s stock valued at $120,000 after acquiring an additional 1,092 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Sunrise Realty Trust by 22.5% in the 1st quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock worth $108,000 after buying an additional 1,794 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sunrise Realty Trust by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 125,942 shares of the company’s stock valued at $1,773,000 after buying an additional 1,887 shares during the period. Bank of America Corp DE raised its stake in Sunrise Realty Trust by 60.4% during the fourth quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock worth $73,000 after acquiring an additional 1,952 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Sunrise Realty Trust by 353.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock worth $41,000 after acquiring an additional 2,279 shares during the last quarter.

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.