Sunrise Realty Trust (NASDAQ:SUNS) Coverage Initiated at Oppenheimer

Oppenheimer began coverage on shares of Sunrise Realty Trust (NASDAQ:SUNS - Free Report) in a research report released on Thursday, Marketbeat reports. The brokerage issued an outperform rating and a $12.00 target price on the stock.

Other analysts also recently issued reports about the company. Keefe, Bruyette & Woods reduced their price objective on Sunrise Realty Trust from $12.25 to $10.75 and set an "outperform" rating on the stock in a research report on Monday, April 7th. B. Riley initiated coverage on shares of Sunrise Realty Trust in a research note on Thursday, February 13th. They set a "buy" rating and a $15.00 price target on the stock. Finally, Raymond James cut their price objective on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an "outperform" rating for the company in a research report on Monday, March 10th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sunrise Realty Trust currently has an average rating of "Buy" and an average target price of $13.06.

Sunrise Realty Trust Trading Up 4.2 %

Shares of NASDAQ:SUNS traded up $0.40 during midday trading on Thursday, hitting $9.86. 114,436 shares of the stock were exchanged, compared to its average volume of 104,648. Sunrise Realty Trust has a twelve month low of $7.80 and a twelve month high of $15.74. The company has a 50 day moving average price of $10.69 and a 200-day moving average price of $12.77.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $3.45 million during the quarter, compared to analysts' expectations of $3.25 million. On average, equities research analysts expect that Sunrise Realty Trust will post 0.58 earnings per share for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

The business also recently declared 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 dividend yield of 12.18%.

Insider Transactions at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum bought 1,000,000 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average price of $12.00 per share, with a total value of $12,000,000.00. Following the transaction, the chairman now owns 2,434,213 shares in the company, valued at $29,210,556. This trade represents a 69.72 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 1,243,033 shares of company stock worth $14,701,913 in the last ninety days. Insiders own 5.70% of the company's stock.

Hedge Funds Weigh In On Sunrise Realty Trust

Institutional investors have recently added to or reduced their stakes in the company. Castalian Partners LLC acquired a new position in Sunrise Realty Trust during the 4th quarter worth $2,709,000. Geode Capital Management LLC increased its holdings in shares of 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 last quarter. State Street Corp acquired a new position in Sunrise Realty Trust in the third quarter worth $1,788,000. Renaissance Technologies LLC bought a new stake in Sunrise Realty Trust during the fourth quarter valued at $594,000. Finally, Marshall Wace LLP bought a new position in shares of Sunrise Realty Trust in the 4th quarter worth about $475,000.

Sunrise Realty Trust Company Profile

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.