Keefe, Bruyette & Woods Cuts Sunrise Realty Trust (NASDAQ:SUNS) Price Target to $8.75

Sunrise Realty Trust (NASDAQ:SUNS) had its price objective decreased by Keefe, Bruyette & Woods from $9.50 to $8.75 in a research note published on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other analysts have also recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Sunrise Realty Trust in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Sunrise Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sunrise Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $10.38.

Sunrise Realty Trust Stock Up 1.0%

Shares of Sunrise Realty Trust stock opened at $8.23 on Wednesday. The firm has a market cap of $111.27 million, a PE ratio of 8.76, a P/E/G ratio of 0.58 and a beta of 0.90. Sunrise Realty Trust has a twelve month low of $7.80 and a twelve month high of $11.78. The business has a 50-day moving average price of $9.19 and a 200 day moving average price of $9.76.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its earnings results on Thursday, March 12th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.04). The business had revenue of $7.17 million for the quarter, compared to analyst estimates of $7.13 million. Sunrise Realty Trust had a return on equity of 7.70% and a net margin of 56.29%. On average, sell-side analysts expect that Sunrise Realty Trust will post 0.58 EPS for the current year.

Sunrise Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 14.6%. The ex-dividend date of this dividend is Tuesday, March 31st. Sunrise Realty Trust’s payout ratio is presently 127.66%.

Insider Buying and Selling

In other news, Chairman Leonard M. Tannenbaum purchased 100,000 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were bought at an average price of $9.40 per share, for a total transaction of $940,000.00. Following the completion of the purchase, the chairman owned 585,681 shares of the company’s stock, valued at $5,505,401.40. This trade represents a 20.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 24.80% of the company’s stock.

Hedge Funds Weigh In On Sunrise Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its holdings in shares of Sunrise Realty Trust by 7.1% in the fourth quarter. Osaic Holdings Inc. now owns 16,947 shares of the company’s stock valued at $160,000 after buying an additional 1,127 shares during the period. Barclays PLC grew its holdings in Sunrise Realty Trust by 7.3% during the fourth quarter. Barclays PLC now owns 22,183 shares of the company’s stock worth $209,000 after acquiring an additional 1,518 shares during the period. Royal Bank of Canada grew its holdings in Sunrise Realty Trust by 12.5% during the fourth quarter. Royal Bank of Canada now owns 13,782 shares of the company’s stock worth $130,000 after acquiring an additional 1,535 shares during the period. Rhumbline Advisers raised its position in Sunrise Realty Trust by 22.5% in the first quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock worth $108,000 after acquiring an additional 1,794 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Sunrise Realty Trust by 60.4% in 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 during the last quarter.

About Sunrise Realty Trust

Sunrise Realty Trust is a real estate investment trust (REIT) that focuses on acquiring, owning and leasing convenience store and fuel retail properties under long-term net leases. The company targets sale-leaseback transactions and joint-venture investments with high-credit tenants in the convenience retail sector. Sunrise Realty Trust’s portfolio comprises single-tenant properties that benefit from predictable cash flows, structured lease agreements and tenant-driven site improvements, providing exposure to a segment of the retail real estate market that aligns closely with consumer essentials.

The company’s primary business activities include sourcing and underwriting new property investments, negotiating sale-leaseback and ground lease transactions, and managing asset performance throughout the lease term.