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

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

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

Sunrise Realty Trust Stock Performance

NASDAQ SUNS opened at $9.26 on Monday. The business has a fifty day moving average price of $11.44 and a two-hundred day moving average price of $13.25. Sunrise Realty Trust has a fifty-two week low of $8.11 and a fifty-two week high of $15.74.

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

Sunrise Realty Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 12.96%. The ex-dividend date is Monday, March 31st.

Insider Activity

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum acquired 25,000 shares of Sunrise Realty Trust stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $11.06 per share, with a total value of $276,500.00. Following the completion of the purchase, the chairman now directly owns 2,469,282 shares in the company, valued at $27,310,258.92. This trade represents a 1.02 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders bought 1,243,033 shares of company stock valued at $14,701,913 over the last quarter. 5.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in shares of Sunrise Realty Trust by 60.4% in the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock valued at $73,000 after buying an additional 1,952 shares during the last quarter. Castalian Partners LLC acquired a new position in shares of Sunrise Realty Trust in the fourth quarter worth approximately $2,709,000. Tower Research Capital LLC TRC lifted its stake in shares of 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 period. Marshall Wace LLP bought a new stake in Sunrise Realty Trust in the fourth quarter valued at approximately $475,000. Finally, Barclays PLC increased its position in 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 purchasing an additional 1,092 shares during the period.

About Sunrise Realty Trust

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.