Sunrise Realty Trust (NASDAQ:SUNS) Upgraded at New Street Research

Key Points

• New Street Research upgraded Sunrise Realty Trust from “sell” to “neutral.” However, the stock’s overall analyst consensus remains “Reduce,” with an average price target of $8.00.
• SUNS shares rose 1.1% to $7.69, while the company’s latest quarterly results showed adjusted EPS of $0.29, slightly below estimates, and revenue of $8.56 million, above expectations.
• Insider and institutional interest increased: Chairman Leonard Tannenbaum bought 50,000 shares, insiders acquired 118,822 shares over three months, and investors including BlackRock initiated or expanded positions.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) was upgraded by analysts at New Street Research from a "sell" rating to a "neutral" rating in a report released on Wednesday, Briefing.com reports.

SUNS has been the topic of several other research reports. Weiss Ratings downgraded Sunrise Realty Trust from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, July 16th. Zacks Research upgraded shares of Sunrise Realty Trust from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Sunrise Realty Trust presently has an average rating of "Reduce" and an average price target of $8.00.

Sunrise Realty Trust Trading Up 1.1%

SUNS traded up $0.08 during midday trading on Wednesday, hitting $7.69. 17,459 shares of the company were exchanged, compared to its average volume of 95,581. The company's 50 day simple moving average is $7.69 and its 200 day simple moving average is $8.00. The firm has a market capitalization of $103.97 million, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00. Sunrise Realty Trust has a 1-year low of $7.19 and a 1-year high of $11.09.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate 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 company had revenue of $8.56 million for the quarter, compared to analyst estimates of $7.17 million. On average, equities analysts anticipate that Sunrise Realty Trust will post 1.19 EPS for the current year.

Insider Activity at Sunrise Realty Trust

In related news, Chairman Leonard Tannenbaum purchased 50,000 shares of the business's stock in a transaction on Thursday, August 13th. The shares were bought at an average price 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 $23,570,392.50. This trade represents a 1.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 118,822 shares of company stock valued at $905,787 in the last three months. Insiders own 28.50% of the company's stock.

Institutional Investors Weigh In On Sunrise Realty Trust

Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Sunrise Realty Trust during the second quarter worth approximately $1,038,000. GatePass Capital LLC acquired a new stake in Sunrise Realty Trust during the 1st quarter worth $588,000. Susquehanna International Group LLP purchased a new position in Sunrise Realty Trust during the 2nd quarter worth $233,000. Hsbc Holdings PLC purchased a new stake in shares of Sunrise Realty Trust in the first quarter valued at about $87,000. Finally, Quantinno Capital Management LP boosted its stake in shares of Sunrise Realty Trust by 22.9% during the first quarter. Quantinno Capital Management LP now owns 50,951 shares of the company's stock worth $391,000 after buying an additional 9,510 shares during the period.

About Sunrise Realty Trust

Sunrise Realty Trust, Inc is a real estate investment trust focused on commercial real estate debt investments. The company primarily originates, acquires and manages mortgage loans secured by commercial properties, seeking to generate income from interest payments and related investment activities.

Its portfolio is centered on senior-secured commercial real estate loans, including financing for properties such as multifamily, industrial, office, retail and other income-producing real estate.

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