Sunrise Realty Trust (NASDAQ:SUNS) Receives “Outperform” Rating from Raymond James

Raymond James reaffirmed their outperform rating on shares of Sunrise Realty Trust (NASDAQ:SUNS) in a report released on Monday,Benzinga reports. They currently have a $15.00 price objective on the stock, down from their previous price objective of $17.50.

Sunrise Realty Trust Stock Down 2.5 %

SUNS stock opened at $11.70 on Monday. The company’s fifty day simple moving average is $13.61. Sunrise Realty Trust has a 52-week low of $8.11 and a 52-week high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last released its earnings results on Thursday, November 7th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $3.18 million for the quarter, compared to analyst estimates of $2.50 million. On average, research analysts predict that Sunrise Realty Trust will post 0.64 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Leonard M. Tannenbaum acquired 39,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average price of $13.42 per share, for a total transaction of $523,380.00. Following the completion of the acquisition, the chairman now owns 1,373,376 shares of the company’s stock, valued at approximately $18,430,705.92. This represents a 2.92 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders purchased 1,087,429 shares of company stock worth $13,171,696.

Institutional Investors Weigh In On Sunrise Realty Trust

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

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.