Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report)'s stock had its "outperform" rating reaffirmed by stock analysts at Raymond James in a research note issued to investors on Monday,Benzinga reports. They currently have a $15.00 price target on the stock, down from their prior price target of $17.50. Raymond James' price target points to a potential upside of 27.01% from the company's previous close.
Sunrise Realty Trust Stock Performance
SUNS remained flat at $11.81 on Monday. 135,327 shares of the company were exchanged, compared to its average volume of 172,472. The company's fifty day moving average is $13.48. Sunrise Realty Trust has a twelve month low of $8.11 and a twelve month high of $15.74.
Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.01. The firm had revenue of $3.18 million for the quarter, compared to the consensus estimate of $2.50 million. Analysts anticipate that Sunrise Realty Trust will post 0.64 earnings per share for the current year.
Insider Transactions at Sunrise Realty Trust
In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum bought 1,000,000 shares of the stock in a transaction dated Wednesday, January 29th. The shares were bought at an average cost of $12.00 per share, with a total value of $12,000,000.00. Following the completion of the acquisition, the chairman now owns 2,434,213 shares of the company's stock, valued at $29,210,556. This trade represents a 69.72 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders bought 1,087,429 shares of company stock valued at $13,171,696.
Institutional Investors Weigh In On Sunrise Realty Trust
A number of large investors have recently added to or reduced their stakes in SUNS. Spire Wealth Management acquired a new stake in Sunrise Realty Trust during the fourth quarter worth about $137,000. JPMorgan Chase & Co. acquired a new stake in shares of Sunrise Realty Trust during the 3rd quarter worth approximately $155,000. Barclays PLC bought a new position in Sunrise Realty Trust in the third quarter valued at approximately $106,000. Geode Capital Management LLC acquired a new position in Sunrise Realty Trust during the third quarter valued at approximately $1,785,000. Finally, State Street Corp acquired a new stake in shares of Sunrise Realty Trust in the 3rd quarter valued at $1,788,000.
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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