Sunrise Realty Trust (NASDAQ:SUNS) Price Target Cut to $11.25 by Analysts at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods lowered the price target for Sunrise Realty Trust (NASDAQ:SUNS) from $11.50 to $11.25, indicating a potential upside of 5.83% from the current stock price.
• Oppenheimer issued an "outperform" rating with a price target of $12.00, while the consensus rating for the stock remains a "Buy" with an average target of $13.19.
• Chairman Leonard M. Tannenbaum increased his stake in the company by purchasing 6,000 shares, bringing his total holding to approximately 2.8 million shares valued at around $30.68 million.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) had its price target lowered by Keefe, Bruyette & Woods from $11.50 to $11.25 in a report released on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 6.53% from the stock's current price.

Separately, Oppenheimer began coverage on Sunrise Realty Trust in a research report on Thursday, April 17th. They set an "outperform" rating and a $12.00 target price for the company. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $13.19.

Sunrise Realty Trust Stock Down 0.1%

SUNS stock traded down $0.01 during midday trading on Wednesday, reaching $10.56. The stock had a trading volume of 56,318 shares, compared to its average volume of 113,788. The business has a fifty day simple moving average of $10.68 and a two-hundred day simple moving average of $10.72. The firm has a market cap of $141.72 million and a price-to-earnings ratio of 10.15. Sunrise Realty Trust has a twelve month low of $7.80 and a twelve month high of $15.74.

Insider Activity

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum acquired 32,275 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average cost of $10.48 per share, for a total transaction of $338,242.00. Following the transaction, the chairman owned 2,878,209 shares of the company's stock, valued at $30,163,630.32. This trade represents a 1.13% 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 this link. In the last three months, insiders purchased 59,175 shares of company stock valued at $615,955.

Hedge Funds Weigh In On Sunrise Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Philadelphia Financial Management of San Francisco LLC bought a new stake in Sunrise Realty Trust in the 1st quarter valued at approximately $6,629,000. Gratia Capital LLC lifted its stake in Sunrise Realty Trust by 19.9% in the 2nd quarter. Gratia Capital LLC now owns 446,720 shares of the company's stock valued at $4,735,000 after acquiring an additional 74,193 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Sunrise Realty Trust in the 1st quarter valued at approximately $3,337,000. Pacific Ridge Capital Partners LLC bought a new stake in Sunrise Realty Trust in the 1st quarter valued at approximately $2,142,000. Finally, Castalian Partners LLC bought a new stake in Sunrise Realty Trust in the 4th quarter valued at approximately $2,709,000.

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.