Castalian Partners LLC Buys Shares of 192,401 Sunrise Realty Trust, Inc. (NASDAQ:SUNS)

Castalian Partners LLC acquired a new position in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 192,401 shares of the company's stock, valued at approximately $2,709,000. Sunrise Realty Trust comprises about 1.4% of Castalian Partners LLC's holdings, making the stock its 16th largest position. Castalian Partners LLC owned approximately 2.78% of Sunrise Realty Trust as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SUNS. Tower Research Capital LLC TRC raised 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 valued at $41,000 after buying an additional 2,279 shares during the period. Marshall Wace LLP purchased a new position in shares of Sunrise Realty Trust in the 4th quarter valued at $475,000. Barclays PLC lifted its holdings 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. Renaissance Technologies LLC purchased a new stake in Sunrise Realty Trust during the 4th quarter worth $594,000. Finally, Geode Capital Management LLC increased its holdings in 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 purchasing an additional 1,887 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SUNS shares. Oppenheimer initiated coverage on Sunrise Realty Trust in a research note on Thursday, April 17th. They set an "outperform" rating and a $12.00 price objective on the stock. Raymond James lowered their price objective on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an "outperform" rating for the company in a research report on Monday, March 10th. B. Riley started coverage on shares of Sunrise Realty Trust in a research report on Thursday, February 13th. They set a "buy" rating and a $15.00 target price on the stock. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Sunrise Realty Trust from $12.25 to $10.75 and set an "outperform" rating for the company in a research note on Monday, April 7th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $13.06.

Insiders Place Their Bets

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum purchased 50,000 shares of Sunrise Realty Trust stock in a transaction dated Monday, March 17th. The shares were bought at an average cost of $11.03 per share, for a total transaction of $551,500.00. Following the transaction, the chairman now owns 2,543,289 shares in the company, valued at $28,052,477.67. This represents a 2.01 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 291,927 shares of company stock valued at $3,211,340 over the last 90 days. 5.70% of the stock is owned by company insiders.

Sunrise Realty Trust Price Performance

NASDAQ SUNS traded down $0.02 during mid-day trading on Friday, reaching $10.81. 67,358 shares of the company's stock traded hands, compared to its average volume of 105,324. The company has a fifty day simple moving average of $10.45 and a 200-day simple moving average of $12.53. Sunrise Realty Trust, Inc. has a 1-year low of $7.80 and a 1-year high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) 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 company had revenue of $3.45 million for the quarter, compared to analyst estimates of $3.25 million. Sell-side analysts expect that Sunrise Realty Trust, Inc. will post 0.58 earnings per share for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 11.10%.

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.