Oppenheimer Initiates Coverage on Sunrise Realty Trust (NASDAQ:SUNS)

Analysts at Oppenheimer started coverage on shares of Sunrise Realty Trust (NASDAQ:SUNS) in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $12.00 price target on the stock. Oppenheimer’s price target points to a potential upside of 44.93% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of Sunrise Realty Trust from $12.25 to $10.75 and set an “outperform” rating for the company in a report on Monday, April 7th. Raymond James cut their target price on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating for the company in a research report on Monday, March 10th. Finally, B. Riley began coverage on Sunrise Realty Trust in a research report on Thursday, February 13th. They issued a “buy” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $13.06.

Sunrise Realty Trust Trading Down 1.5 %

SUNS stock opened at $8.28 on Thursday. Sunrise Realty Trust has a 1-year low of $7.80 and a 1-year high of $15.74. The firm has a fifty day moving average price of $10.83 and a two-hundred day moving average price of $12.89.

Sunrise Realty Trust (NASDAQ:SUNS) last released its quarterly earnings data on Thursday, March 6th. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The firm had revenue of $3.45 million during the quarter, compared to analyst estimates of $3.25 million. Equities research analysts expect that Sunrise Realty Trust will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum bought 1,000,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were purchased at an average price of $12.00 per share, with a total value of $12,000,000.00. Following the acquisition, the chairman now directly owns 2,434,213 shares of the company’s stock, valued at $29,210,556. This represents a 69.72 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders bought 1,243,033 shares of company stock valued at $14,701,913. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Sunrise Realty Trust

A number of hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its holdings in Sunrise Realty Trust by 353.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock valued at $41,000 after acquiring an additional 2,279 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Sunrise Realty Trust by 60.4% during the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock valued at $73,000 after acquiring an additional 1,952 shares in the last quarter. Barclays PLC bought a new position in Sunrise Realty Trust during the third quarter worth about $106,000. Rhumbline Advisers grew its stake in shares of Sunrise Realty Trust by 22.5% in 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. Finally, Spire Wealth Management bought 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.