Sunrise Realty Trust's (SUNS) "Sell (D)" Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "sell (D)" rating for Sunrise Realty Trust (SUNS), indicating ongoing concerns about the stock's performance.
• Keefe, Bruyette & Woods has lowered its target price for SUNS from $11.50 to $11.25, while the stock currently has an average price target of $13.19.
• Insider buying activity increased, with Chairman Leonard M. Tannenbaum purchasing 32,275 shares for a total of $338,242, reflecting confidence in the company's prospects.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report)'s stock had its "sell (d)" rating reiterated by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Keefe, Bruyette & Woods lowered their target price on shares of Sunrise Realty Trust from $11.50 to $11.25 and set an "outperform" rating on the stock in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $13.19.

Sunrise Realty Trust Stock Performance

SUNS opened at $9.94 on Wednesday. The stock has a market capitalization of $133.39 million, a P/E ratio of 9.56, a P/E/G ratio of 0.78 and a beta of 0.96. The company's 50-day simple moving average is $10.69 and its two-hundred day simple moving average is $10.54. Sunrise Realty Trust has a 52-week low of $7.80 and a 52-week high of $15.74.

Insider Buying and Selling at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum acquired 32,275 shares of the stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $10.48 per share, for a total transaction of $338,242.00. Following the purchase, the chairman directly owned 2,878,209 shares of the company's stock, valued at approximately $30,163,630.32. This trade represents a 1.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders have purchased 93,786 shares of company stock valued at $989,378. 24.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sunrise Realty Trust

Several institutional investors have recently made changes to their positions in SUNS. PNC Financial Services Group Inc. bought a new position in shares of Sunrise Realty Trust in the 1st quarter worth approximately $25,000. Nisa Investment Advisors LLC lifted its stake in shares of Sunrise Realty Trust by 61.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,014 shares of the company's stock worth $33,000 after purchasing an additional 1,149 shares during the period. Corebridge Financial Inc. lifted its stake in shares of Sunrise Realty Trust by 82.4% in the 1st quarter. Corebridge Financial Inc. now owns 5,117 shares of the company's stock worth $57,000 after purchasing an additional 2,312 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Sunrise Realty Trust by 90.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company's stock worth $67,000 after acquiring an additional 2,880 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in 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 worth $73,000 after acquiring an additional 1,952 shares in the last quarter.

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.

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