Sunrise Realty Trust (NASDAQ:SUNS) Cut to “Market Perform” at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods downgraded shares of Sunrise Realty Trust (NASDAQ:SUNS) from an outperform rating to a market perform rating in a report released on Wednesday, MarketBeat Ratings reports. The brokerage currently has $9.50 price objective on the stock, down from their previous price objective of $10.75.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Sunrise Realty Trust in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sunrise Realty Trust presently has an average rating of “Moderate Buy” and an average price target of $12.75.

Sunrise Realty Trust Stock Up 0.1%

SUNS stock opened at $9.37 on Wednesday. Sunrise Realty Trust has a 12 month low of $7.80 and a 12 month high of $14.32. The firm has a market cap of $125.75 million, a P/E ratio of 8.60, a P/E/G ratio of 0.65 and a beta of 0.92. The company’s 50-day moving average price is $9.75 and its two-hundred day moving average price is $10.27.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.30 earnings per share (EPS) for the quarter. Sunrise Realty Trust had a net margin of 62.48% and a return on equity of 7.76%. Equities analysts predict that Sunrise Realty Trust will post 0.58 EPS for the current year.

Sunrise Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.20 annualized dividend and a dividend yield of 12.8%. Sunrise Realty Trust’s dividend payout ratio is 110.09%.

Insider Activity at Sunrise Realty Trust

In other news, Chairman Leonard M. Tannenbaum acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The shares were bought at an average price of $9.40 per share, with a total value of $940,000.00. Following the acquisition, the chairman directly owned 585,681 shares in the company, valued at $5,505,401.40. The trade was a 20.59% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders acquired 225,000 shares of company stock valued at $2,137,194. 24.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sunrise Realty Trust

Several large investors have recently bought and sold shares of SUNS. Nisa Investment Advisors LLC grew its holdings in shares of Sunrise Realty Trust by 61.6% during the second quarter. Nisa Investment Advisors LLC now owns 3,014 shares of the company’s stock worth $33,000 after purchasing an additional 1,149 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Sunrise Realty Trust by 90.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company’s stock worth $67,000 after buying an additional 2,880 shares during the period. Bank of America Corp DE grew its holdings in 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 worth $73,000 after acquiring an additional 1,952 shares during the last quarter. GatePass Capital LLC bought a new stake in Sunrise Realty Trust during the 2nd quarter worth approximately $106,000. Finally, Corsair Capital Management L.P. acquired a new position in Sunrise Realty Trust in the 2nd quarter valued at approximately $106,000.

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.