Sunrise Realty Trust (NASDAQ:SUNS) Stock Gets Price Target Reduction from B. Riley Financial

Key Points

• B. Riley cut its price target on Sunrise Realty Trust from $13.50 to $13.00 but maintained a Buy rating, implying 93.71% upside from the prior close.
• Analyst sentiment is mixed: the consensus rating is Hold, with a $9.75 average price target; one analyst rates it Buy, three Hold, and one Sell.
• Shares fell 6.7% to $6.71 Thursday. The company also missed quarterly estimates, reporting EPS of $0.24 versus $0.29 expected and revenue of $7.97 million versus $9.13 million expected.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) had its target price dropped by B. Riley Financial from $13.50 to $13.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. B. Riley Financial's price objective points to a potential upside of 93.71% from the stock's previous close.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods cut their target price on Sunrise Realty Trust from $8.00 to $6.50 and set a "market perform" rating on the stock in a report on Friday, October 9th. New Street Research upgraded Sunrise Realty Trust from a "sell" rating to a "neutral" rating in a research note on Wednesday, September 23rd. Weiss Ratings upgraded Sunrise Realty Trust from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, October 2nd. Finally, Zacks Research raised Sunrise Realty Trust from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Sunrise Realty Trust has a consensus rating of "Hold" and a consensus price target of $9.75.

Sunrise Realty Trust Trading Down 6.7%

NASDAQ SUNS traded down $0.48 during trading on Thursday, reaching $6.71. The company's stock had a trading volume of 42,502 shares, compared to its average volume of 94,365. The stock has a market capitalization of $90.71 million, a PE ratio of 7.77, a PEG ratio of 0.56 and a beta of 1.00. Sunrise Realty Trust has a 1-year low of $5.77 and a 1-year high of $10.45. The business has a 50-day moving average price of $6.78 and a 200-day moving average price of $7.92.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last released its quarterly earnings data on Tuesday, November 10th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.05). The business had revenue of $7.97 million during the quarter, compared to analyst estimates of $9.13 million. Sunrise Realty Trust had a net margin of 49.15% and a return on equity of 7.77%. As a group, analysts expect that Sunrise Realty Trust will post 1.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quantinno Capital Management LP lifted its position 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 acquiring an additional 9,510 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Sunrise Realty Trust in the second quarter valued at about $133,000. Susquehanna International Group LLP acquired a new stake in shares of Sunrise Realty Trust in the second quarter valued at about $233,000. GatePass Capital LLC bought a new position in shares of Sunrise Realty Trust in the first quarter worth about $588,000. Finally, BlackRock Inc. bought a new position in shares of Sunrise Realty Trust in the second quarter worth about $1,038,000.

Sunrise Realty Trust Company Profile

Sunrise Realty Trust, Inc. is a real estate investment trust focused on commercial real estate finance. The company invests in and originates commercial real estate debt, seeking to generate income from loans and other investments secured by properties in the United States. Its investment activities are centered primarily on mortgage loans and other credit investments backed by commercial real estate. These investments may support the acquisition, refinancing, development, redevelopment or repositioning of properties, with the portfolio generally targeting opportunities in the middle-market commercial real estate sector.

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