Renaissance Technologies LLC purchased a new stake in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 42,200 shares of the company's stock, valued at approximately $594,000. Renaissance Technologies LLC owned about 0.61% of Sunrise Realty Trust as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC acquired a new position in Sunrise Realty Trust in the 3rd quarter worth approximately $1,785,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Sunrise Realty Trust in the fourth quarter worth about $158,000. JPMorgan Chase & Co. purchased a new stake in shares of Sunrise Realty Trust during the 3rd quarter worth about $155,000. Spire Wealth Management acquired a new stake in shares of Sunrise Realty Trust during the 4th quarter valued at about $137,000. Finally, Barclays PLC purchased a new position in shares of Sunrise Realty Trust in the 3rd quarter valued at about $106,000.
Insiders Place Their Bets
In related news, Chairman Leonard M. Tannenbaum purchased 80,514 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was purchased at an average price of $11.26 per share, with a total value of $906,587.64. Following the completion of the acquisition, the chairman now owns 2,623,803 shares in the company, valued at $29,544,021.78. This trade represents a 3.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders have acquired 291,927 shares of company stock valued at $3,211,340 in the last ninety days. 5.70% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of equities analysts have issued reports on SUNS shares. B. Riley initiated coverage on Sunrise Realty Trust in a research report on Thursday, February 13th. They set a "buy" rating and a $15.00 price target on the stock. Oppenheimer started coverage on shares of 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. Keefe, Bruyette & Woods reduced their price objective on shares of Sunrise Realty Trust from $12.25 to $10.75 and set an "outperform" rating for the company in a research report on Monday, April 7th. Finally, Raymond James decreased their price objective on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an "outperform" rating on the stock in a report on Monday, March 10th. One 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 data from MarketBeat.com, Sunrise Realty Trust currently has an average rating of "Buy" and a consensus target price of $13.06.
Read Our Latest Stock Report on SUNS
Sunrise Realty Trust Price Performance
Shares of NASDAQ:SUNS remained flat at $10.16 during trading on Thursday. The stock had a trading volume of 4,618 shares, compared to its average volume of 104,611. Sunrise Realty Trust, Inc. has a 12-month low of $7.80 and a 12-month high of $15.74. The stock has a fifty day moving average of $10.34 and a two-hundred day moving average of $12.42.
Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $3.45 million for the quarter, compared to analyst estimates of $3.25 million. As a group, analysts expect that Sunrise Realty Trust, Inc. will post 0.58 earnings per share for the current year.
Sunrise Realty Trust Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued 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 11.81%.
About Sunrise Realty Trust
(
Free Report)
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.
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