Renaissance Technologies LLC Takes Position in Sunrise Realty Trust, Inc. (NASDAQ:SUNS)

Renaissance Technologies LLC bought a new position in Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 42,200 shares of the company's stock, valued at approximately $594,000. Renaissance Technologies LLC owned 0.61% of Sunrise Realty Trust at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC acquired a new stake in Sunrise Realty Trust in the 3rd quarter valued at $1,785,000. Barclays PLC bought a new stake in Sunrise Realty Trust during the third quarter worth about $106,000. JPMorgan Chase & Co. acquired a new position in Sunrise Realty Trust during the third quarter valued at approximately $155,000. Spire Wealth Management bought a new position in Sunrise Realty Trust in the fourth quarter valued at approximately $137,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Sunrise Realty Trust during the 4th quarter worth approximately $158,000.

Sunrise Realty Trust Trading Down 2.3 %

NASDAQ:SUNS traded down $0.24 during trading hours on Wednesday, reaching $10.00. 29,238 shares of the company were exchanged, compared to its average volume of 104,867. The business has a 50 day moving average of $10.39 and a 200 day moving average of $12.44. 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 issued its earnings results on Wednesday, May 7th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. On average, research analysts anticipate that Sunrise Realty Trust, Inc. will post 0.58 EPS 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. Stockholders of record on Monday, March 31st were given 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 dividend yield of 12.01%.

Analysts Set New Price Targets

SUNS has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut 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. B. Riley initiated coverage on Sunrise Realty Trust in a report on Thursday, February 13th. They set a "buy" rating and a $15.00 price target for the company. Oppenheimer began coverage on Sunrise Realty Trust in a research report on Thursday, April 17th. They set an "outperform" rating and a $12.00 price objective on the stock. Finally, Raymond James reduced their target price on shares of 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. 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. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $13.06.

Insider Buying and Selling

In related news, Chairman Leonard M. Tannenbaum bought 7,869 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average cost of $9.99 per share, with a total value of $78,611.31. Following the completion of the purchase, the chairman now directly owns 2,719,191 shares in the company, valued at $27,164,718.09. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought 291,927 shares of company stock valued at $3,211,340 over the last quarter. Insiders own 5.70% of the company's stock.

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.