Keefe, Bruyette & Woods Cuts Sunrise Realty Trust (NASDAQ:SUNS) Price Target to $10.75

Sunrise Realty Trust (NASDAQ:SUNS) had its target price reduced by Keefe, Bruyette & Woods from $12.25 to $10.75 in a research report report published on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Several other brokerages also recently weighed in on SUNS. B. Riley began coverage on shares of Sunrise Realty Trust in a research report on Thursday, February 13th. They set a “buy” rating and a $15.00 price target for the company. Raymond James reduced their target price on Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating for the company in a report on Monday, March 10th.

Sunrise Realty Trust Stock Up 6.8 %

SUNS stock opened at $8.94 on Monday. The business has a 50 day moving average of $11.18 and a 200 day moving average of $13.10. Sunrise Realty Trust has a twelve month low of $8.09 and a twelve month high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $3.45 million during the quarter, compared to analysts’ expectations of $3.25 million. As a group, sell-side analysts expect that Sunrise Realty Trust will post 0.58 EPS for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 13.42%. The ex-dividend date of this dividend is Monday, March 31st.

Insider Buying and Selling at Sunrise Realty Trust

In related news, Chairman Leonard M. Tannenbaum bought 1,000,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average cost of $12.00 per share, for a total transaction of $12,000,000.00. Following the completion of the transaction, the chairman now owns 2,434,213 shares of the company’s stock, valued at approximately $29,210,556. This trade represents a 69.72 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have bought 1,243,033 shares of company stock valued at $14,701,913. 5.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. bought a new stake in Sunrise Realty Trust during the 3rd quarter valued at approximately $231,000. State Street Corp purchased a new position in shares of Sunrise Realty Trust in the third quarter worth $1,788,000. Barclays PLC bought a new position in shares of Sunrise Realty Trust during the third quarter worth $106,000. Geode Capital Management LLC bought a new stake in Sunrise Realty Trust in the 3rd quarter valued at $1,785,000. Finally, JPMorgan Chase & Co. purchased a new stake in Sunrise Realty Trust in the 3rd quarter worth $155,000.

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.