Sunrise Realty Trust (NASDAQ:SUNS) Price Target Raised to $11.50

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) had its target price increased by equities researchers at Keefe, Bruyette & Woods from $10.75 to $11.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 6.19% from the company's previous close.

Separately, Oppenheimer initiated coverage on shares of Sunrise Realty Trust in a research note on Thursday, April 17th. They set an "outperform" rating and a $12.00 target price on the stock. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sunrise Realty Trust presently has a consensus rating of "Buy" and an average target price of $13.25.

Sunrise Realty Trust Trading Down 0.7%

SUNS stock traded down $0.08 during trading on Thursday, reaching $10.83. 61,483 shares of the stock were exchanged, compared to its average volume of 96,038. The business has a 50 day moving average price of $10.81 and a 200-day moving average price of $11.26. Sunrise Realty Trust has a 1 year low of $7.80 and a 1 year high of $15.74. The firm has a market capitalization of $145.34 million and a price-to-earnings ratio of 10.72.

Insider Activity

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum bought 6,000 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average cost of $10.86 per share, with a total value of $65,160.00. Following the purchase, the chairman directly owned 2,825,034 shares in the company, valued at approximately $30,679,869.24. This represents a 0.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have purchased 74,894 shares of company stock valued at $783,287. 24.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sunrise Realty Trust

Several large investors have recently added to or reduced their stakes in the business. Barclays PLC increased its stake in Sunrise Realty Trust by 14.8% during the 4th quarter. Barclays PLC now owns 8,484 shares of the company's stock worth $120,000 after buying an additional 1,092 shares during the period. Rhumbline Advisers increased its stake in Sunrise Realty Trust by 22.5% during the 1st quarter. Rhumbline Advisers now owns 9,780 shares of the company's stock worth $108,000 after buying an additional 1,794 shares during the period. Geode Capital Management LLC increased its stake in Sunrise Realty Trust by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 125,942 shares of the company's stock worth $1,773,000 after buying an additional 1,887 shares during the period. Bank of America Corp DE increased its position in shares of Sunrise Realty Trust by 60.4% in the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company's stock valued at $73,000 after purchasing an additional 1,952 shares during the last quarter. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Sunrise Realty Trust in the 1st quarter valued at approximately $25,000.

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.