MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Reduces Stock Holdings in Sunrise Realty Trust, Inc. (NASDAQ:SUNS)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its stake in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Free Report) by 91.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,197 shares of the company's stock after selling 34,539 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Sunrise Realty Trust were worth $45,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SUNS. Spire Wealth Management acquired a new stake in shares of Sunrise Realty Trust during the fourth quarter valued at $137,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Sunrise Realty Trust during the fourth quarter valued at $158,000. JPMorgan Chase & Co. boosted its stake in shares of Sunrise Realty Trust by 97.6% during the fourth quarter. JPMorgan Chase & Co. now owns 21,280 shares of the company's stock valued at $300,000 after acquiring an additional 10,511 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Sunrise Realty Trust by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 125,942 shares of the company's stock valued at $1,773,000 after acquiring an additional 1,887 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Sunrise Realty Trust in the 4th quarter worth about $594,000.

Analyst Ratings Changes

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

Sunrise Realty Trust Trading Up 2.8%

Shares of Sunrise Realty Trust stock traded up $0.30 during trading hours on Friday, reaching $10.85. The stock had a trading volume of 36,080 shares, compared to its average volume of 101,711. The firm has a 50 day simple moving average of $10.07 and a two-hundred day simple moving average of $11.83. The firm has a market capitalization of $145.62 million and a price-to-earnings ratio of 10.74. 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 released its quarterly earnings data on Thursday, March 6th. The company reported $0.30 EPS for the quarter, hitting analysts' consensus estimates of $0.30. The firm had revenue of $3.45 million during the quarter, compared to analysts' expectations of $3.25 million. Sell-side analysts forecast that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current year.

Insider Transactions at Sunrise Realty Trust

In other news, Chairman Leonard M. Tannenbaum acquired 50,000 shares of the business's 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 acquisition, the chairman now directly owns 2,543,289 shares in the company, valued at $28,052,477.67. This trade represents a 2.01% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 311,927 shares of company stock worth $3,420,040 in the last three months. 24.80% of the stock is currently owned by company insiders.

Sunrise Realty Trust Company Profile

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.