Keefe, Bruyette & Woods Lowers Sunrise Realty Trust (NASDAQ:SUNS) Price Target to $12.25

Sunrise Realty Trust (NASDAQ:SUNS - Free Report) had its price target cut by Keefe, Bruyette & Woods from $12.75 to $12.25 in a research report released on Monday,Benzinga reports. They currently have an outperform rating on the stock.

SUNS has been the topic of several other reports. Raymond James reaffirmed an "outperform" rating and issued a $15.00 price target (down from $17.50) on shares of Sunrise Realty Trust in a report on Monday, February 3rd. B. Riley began coverage on shares of Sunrise Realty Trust in a report on Thursday, February 13th. They issued a "buy" rating and a $15.00 price target on the stock.

Sunrise Realty Trust Stock Performance

NASDAQ:SUNS traded up $0.02 during trading hours on Monday, reaching $11.04. The company's stock had a trading volume of 162,542 shares, compared to its average volume of 95,257. Sunrise Realty Trust has a 12 month low of $8.11 and a 12 month high of $15.74. The stock has a 50 day moving average price of $12.21 and a two-hundred day moving average price of $13.62.

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

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Sunrise Realty Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.87%. The ex-dividend date is Monday, March 31st.

Insider Activity

In related news, Chairman Leonard M. Tannenbaum acquired 39,000 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average cost of $13.42 per share, with a total value of $523,380.00. Following the completion of the acquisition, the chairman now directly owns 1,373,376 shares of the company's stock, valued at $18,430,705.92. This represents a 2.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 1,087,429 shares of company stock valued at $13,171,696 over the last ninety days. 5.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sunrise Realty Trust

A number of large investors have recently made changes to their positions in the stock. Barclays PLC grew its holdings in shares of Sunrise Realty Trust by 14.8% during the fourth quarter. Barclays PLC now owns 8,484 shares of the company's stock valued at $120,000 after buying an additional 1,092 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Sunrise Realty Trust by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 125,942 shares of the company's stock valued at $1,773,000 after purchasing an additional 1,887 shares during the last quarter. Bank of America Corp DE boosted its holdings in Sunrise Realty Trust by 60.4% in the fourth 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. Tower Research Capital LLC TRC boosted its holdings in Sunrise Realty Trust by 353.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company's stock valued at $41,000 after purchasing an additional 2,279 shares during the last quarter. Finally, Spire Wealth Management purchased a new stake in Sunrise Realty Trust in the fourth quarter valued at $137,000.

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.