Sunrise Realty Trust (NASDAQ:SUNS) Price Target Cut to $6.50 by Analysts at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut Sunrise Realty Trust’s price target to $6.50 from $8.00 while maintaining a “market perform” rating. The new target implies approximately 8.33% upside from the reported $6.00 share price.
• Analyst sentiment remains cautious: three analysts rate the stock “Hold” and one rates it “Sell,” resulting in an average “Reduce” rating and a consensus price target of $6.50.
• Sunrise Realty Trust reported quarterly earnings of $0.29 per share, slightly below the $0.30 estimate, while revenue of $8.56 million exceeded expectations. Chairman Leonard Tannenbaum purchased 50,000 shares, and insiders bought 118,822 shares over the latest quarter.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) had its price target dropped by investment analysts at Keefe, Bruyette & Woods from $8.00 to $6.50 in a research report issued on Friday, Benzinga reports. The firm presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 8.33% from the stock's current price.

Other analysts also recently issued research reports about the stock. Zacks Research raised shares of Sunrise Realty Trust from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Weiss Ratings raised shares of Sunrise Realty Trust from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, October 2nd. Finally, New Street Research upgraded shares of Sunrise Realty Trust from a "sell" rating to a "neutral" rating in a report on Wednesday, September 23rd. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $6.50.

Sunrise Realty Trust Stock Performance

Shares of NASDAQ:SUNS traded up $0.01 during midday trading on Friday, reaching $6.00. The company's stock had a trading volume of 25,144 shares, compared to its average volume of 96,206. Sunrise Realty Trust has a fifty-two week low of $5.77 and a fifty-two week high of $10.45. The firm has a 50 day moving average price of $7.32 and a two-hundred day moving average price of $7.81. The firm has a market capitalization of $81.10 million, a price-to-earnings ratio of 6.19, a PEG ratio of 0.47 and a beta of 1.04.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). Sunrise Realty Trust had a return on equity of 8.25% and a net margin of 53.33%.The business had revenue of $8.56 million during the quarter, compared to the consensus estimate of $7.17 million. As a group, research analysts anticipate that Sunrise Realty Trust will post 1.17 earnings per share for the current year.

Insider Buying and Selling at Sunrise Realty Trust

In other news, Chairman Leonard Tannenbaum bought 50,000 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average cost of $7.50 per share, for a total transaction of $375,000.00. Following the acquisition, the chairman directly owned 3,142,719 shares in the company, valued at approximately $23,570,392.50. This trade represents a 1.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 118,822 shares of company stock worth $905,787 over the last quarter. 28.50% of the stock is owned by corporate insiders.

Institutional Trading of Sunrise Realty Trust

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

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.

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