Sunrise Realty Trust (NASDAQ:SUNS) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Sunrise Realty Trust (NASDAQ:SUNS) posted its quarterly earnings data on Thursday. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.02), Zacks reports.

Sunrise Realty Trust Trading Down 2.8 %

Sunrise Realty Trust stock traded down $0.33 during mid-day trading on Thursday, hitting $11.58. The company had a trading volume of 38,750 shares, compared to its average volume of 148,933. Sunrise Realty Trust has a 12-month low of $8.11 and a 12-month high of $15.74. The company’s fifty day moving average is $12.60 and its 200-day moving average is $13.70.

Insiders Place Their Bets

In related news, Chairman Leonard M. Tannenbaum acquired 1,000,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were acquired at an average price of $12.00 per share, for a total transaction of $12,000,000.00. Following the transaction, the chairman now owns 2,434,213 shares in the company, valued at approximately $29,210,556. This trade represents a 69.72 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have purchased 1,087,429 shares of company stock worth $13,171,696. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sunrise Realty Trust stock. Bank of America Corp DE increased its holdings in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) by 60.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,183 shares of the company’s stock after buying an additional 1,952 shares during the period. Bank of America Corp DE owned about 0.07% of Sunrise Realty Trust worth $73,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SUNS shares. Keefe, Bruyette & Woods started coverage on shares of Sunrise Realty Trust in a report on Tuesday, February 11th. They set an “outperform” rating and a $12.75 price objective on the stock. 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. Finally, Raymond James reiterated an “outperform” rating and issued a $15.00 price target (down previously from $17.50) on shares of Sunrise Realty Trust in a report on Monday, February 3rd.

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.