Barclays PLC Purchases 1,092 Shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS)

Barclays PLC lifted its position in Sunrise Realty Trust, Inc. (NASDAQ:SUNS) by 14.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,484 shares of the company’s stock after buying an additional 1,092 shares during the period. Barclays PLC’s holdings in Sunrise Realty Trust were worth $120,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Spire Wealth Management purchased a new position in Sunrise Realty Trust during the 4th quarter valued at about $137,000. JPMorgan Chase & Co. bought a new position in shares of Sunrise Realty Trust during the third quarter valued at approximately $155,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Sunrise Realty Trust during the fourth quarter valued at approximately $158,000. Renaissance Technologies LLC bought a new position in Sunrise Realty Trust in the fourth quarter worth approximately $594,000. Finally, Geode Capital Management LLC lifted its holdings in Sunrise Realty Trust by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 125,942 shares of the company’s stock worth $1,773,000 after buying an additional 1,887 shares during the period.

Sunrise Realty Trust Trading Down 3.1%

Shares of SUNS opened at $10.35 on Thursday. The firm has a market cap of $138.91 million and a PE ratio of 10.25. Sunrise Realty Trust, Inc. has a 12 month low of $7.80 and a 12 month high of $15.74. The stock has a fifty day moving average price of $10.24 and a 200-day moving average price of $12.29.

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 the consensus estimate of $0.30. The business had revenue of $3.45 million for the quarter, compared to analyst estimates of $3.25 million. As a group, research analysts forecast that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current year.

Sunrise Realty Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 11.59%. The ex-dividend date of this dividend was Monday, March 31st. Sunrise Realty Trust’s payout ratio is currently 118.81%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SUNS. Oppenheimer assumed coverage on Sunrise Realty Trust in a report on Thursday, April 17th. They issued an “outperform” rating and a $12.00 price target on the stock. Keefe, Bruyette & Woods dropped their price objective on Sunrise Realty Trust from $12.25 to $10.75 and set an “outperform” rating on the stock in a research report on Monday, April 7th. B. Riley began coverage on shares of Sunrise Realty Trust in a report on Thursday, February 13th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Raymond James lowered 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 report on Monday, March 10th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $13.06.

Insider Buying and Selling

In other news, Chairman Leonard M. Tannenbaum bought 10,000 shares of Sunrise Realty Trust stock in a transaction that occurred on Thursday, May 8th. The stock was bought at an average price of $10.48 per share, for a total transaction of $104,800.00. Following the purchase, the chairman now directly owns 2,785,216 shares of the company’s stock, valued at approximately $29,189,063.68. The trade was a 0.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders purchased 301,927 shares of company stock worth $3,316,140 in the last three months. Corporate insiders own 24.80% of the company’s stock.

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.