Sunrise Realty Trust (NASDAQ:SUNS) Now Covered by Oppenheimer

Oppenheimer started coverage on shares of Sunrise Realty Trust (NASDAQ:SUNS) in a report issued on Thursday, Marketbeat reports. The firm issued an outperform rating and a $12.00 price target on the stock.

SUNS has been the topic of a number of other reports. B. Riley started coverage on shares of Sunrise Realty Trust in a report on Thursday, February 13th. They set a “buy” rating and a $15.00 price objective on the stock. Raymond James cut their price objective 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. Finally, Keefe, Bruyette & Woods reduced their price target on Sunrise Realty Trust from $12.25 to $10.75 and set an “outperform” rating for the company in a report on Monday, April 7th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $13.06.

Sunrise Realty Trust Price Performance

NASDAQ:SUNS opened at $9.06 on Thursday. Sunrise Realty Trust has a 12 month low of $7.80 and a 12 month high of $15.74. The company’s 50 day moving average is $10.83 and its 200-day moving average is $12.89.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its earnings results on Thursday, March 6th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $3.45 million for the quarter, compared to the consensus estimate of $3.25 million. Sell-side analysts forecast that Sunrise Realty Trust will post 0.58 EPS for the current year.

Sunrise Realty Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 13.25%. The ex-dividend date was Monday, March 31st.

Insider Activity at Sunrise Realty Trust

In related news, Chairman Leonard M. Tannenbaum bought 25,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $11.06 per share, with a total value of $276,500.00. Following the transaction, the chairman now directly owns 2,469,282 shares in the company, valued at approximately $27,310,258.92. This trade represents a 1.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 1,243,033 shares of company stock worth $14,701,913 in the last quarter. 5.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunrise Realty Trust

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers increased its position in Sunrise Realty Trust by 22.5% during the 1st quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock valued at $108,000 after purchasing an additional 1,794 shares during the period. Bank of America Corp DE increased its position in shares of Sunrise Realty Trust by 60.4% during the fourth quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock worth $73,000 after buying an additional 1,952 shares during the period. Castalian Partners LLC acquired a new position in Sunrise Realty Trust in the fourth quarter valued at $2,709,000. Tower Research Capital LLC TRC grew its holdings in Sunrise Realty Trust by 353.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock worth $41,000 after acquiring an additional 2,279 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Sunrise Realty Trust in the 4th quarter worth about $475,000.

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.