Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) had its price target lifted by Keefe, Bruyette & Woods from $10.75 to $11.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 6.19% from the stock's previous close.
Separately, Oppenheimer initiated coverage on shares of Sunrise Realty Trust in a research report on Thursday, April 17th. They set an "outperform" rating and a $12.00 price target for the company. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $13.25.
Check Out Our Latest Stock Report on SUNS
Sunrise Realty Trust Price Performance
SUNS traded down $0.08 during trading on Thursday, reaching $10.83. 61,483 shares of the company's stock were exchanged, compared to its average volume of 96,038. Sunrise Realty Trust has a 1 year low of $7.80 and a 1 year high of $15.74. The stock has a market capitalization of $145.34 million and a P/E ratio of 10.72. The company's fifty day simple moving average is $10.81 and its 200-day simple moving average is $11.24.
Insider Buying and Selling at Sunrise Realty Trust
In other news, Chairman Leonard M. Tannenbaum bought 35,903 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was purchased at an average cost of $10.53 per share, with a total value of $378,058.59. Following the acquisition, the chairman directly owned 2,775,216 shares in the company, valued at $29,223,024.48. This trade represents a 1.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have purchased 74,894 shares of company stock worth $783,287.
Institutional Investors Weigh In On Sunrise Realty Trust
A number of institutional investors have recently added to or reduced their stakes in SUNS. JPMorgan Chase & Co. grew its stake in Sunrise Realty Trust by 97.6% in the 4th 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 period. Geode Capital Management LLC grew its stake in 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 acquiring an additional 1,887 shares during the period. Renaissance Technologies LLC acquired a new stake in Sunrise Realty Trust in the 4th quarter valued at $594,000. Barclays PLC grew its stake in Sunrise Realty Trust by 14.8% in the 4th 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 period. Finally, Marshall Wace LLP acquired a new stake in Sunrise Realty Trust in the 4th quarter valued at $475,000.
About Sunrise Realty Trust
(
Get 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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