Marshall Wace LLP Takes $475,000 Position in Sunrise Realty Trust, Inc. (NASDAQ:SUNS)

Marshall Wace LLP bought a new position in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 33,705 shares of the company's stock, valued at approximately $475,000. Marshall Wace LLP owned 0.49% of Sunrise Realty Trust at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC lifted its holdings in Sunrise Realty Trust by 14.8% in the fourth quarter. Barclays PLC now owns 8,484 shares of the company's stock valued at $120,000 after acquiring an additional 1,092 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Sunrise Realty Trust by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 125,942 shares of the company's stock valued at $1,773,000 after purchasing an additional 1,887 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Sunrise Realty Trust during the 4th quarter worth $137,000. JPMorgan Chase & Co. increased its position in shares of Sunrise Realty Trust by 97.6% during the 4th quarter. JPMorgan Chase & Co. now owns 21,280 shares of the company's stock worth $300,000 after purchasing an additional 10,511 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Sunrise Realty Trust in the 4th quarter valued at about $158,000.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Sunrise Realty Trust from $12.25 to $10.75 and set an "outperform" rating for the company in a research note on Monday, April 7th. Oppenheimer initiated coverage on Sunrise Realty Trust in a research report on Thursday, April 17th. They issued an "outperform" rating and a $12.00 target price on the stock. Raymond James lowered their price target on Sunrise Realty Trust from $15.00 to $14.50 and set an "outperform" rating for the company in a research report on Monday, March 10th. Finally, B. Riley began coverage on Sunrise Realty Trust in a report on Thursday, February 13th. They issued a "buy" rating and a $15.00 price objective on the stock. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Sunrise Realty Trust has an average rating of "Buy" and a consensus price target of $13.06.

Insiders Place Their Bets

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum purchased 35,903 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was bought at an average cost of $10.53 per share, with a total value of $378,058.59. Following the acquisition, the chairman now directly owns 2,775,216 shares of the company's stock, valued at approximately $29,223,024.48. This represents a 1.31 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders bought 291,927 shares of company stock worth $3,211,340 in the last 90 days. Corporate insiders own 5.70% of the company's stock.

Sunrise Realty Trust Stock Performance

Shares of NASDAQ:SUNS traded up $0.12 during trading on Thursday, hitting $10.28. The company's stock had a trading volume of 6,137 shares, compared to its average volume of 104,618. Sunrise Realty Trust, Inc. has a fifty-two week low of $7.80 and a fifty-two week high of $15.74. The business has a 50 day moving average price of $10.34 and a two-hundred day moving average price of $12.42.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $3.45 million for the quarter, compared to analysts' expectations of $3.25 million. As a group, equities analysts anticipate that Sunrise Realty Trust, Inc. will post 0.58 earnings per share for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a yield of 11.67%.

Sunrise Realty Trust 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.