Sunrise Realty Trust (NASDAQ:SUNS) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Sunrise Realty Trust (NASDAQ:SUNS) from a hold rating to a strong sell rating in a research report report published on Tuesday morning,Zacks.com reports.

A number of other brokerages also recently weighed in on SUNS. Weiss Ratings reiterated a “sell (d)” rating on shares of Sunrise Realty Trust in a research report on Thursday, January 22nd. Wall Street Zen cut Sunrise Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. Finally, Keefe, Bruyette & Woods cut their price target on Sunrise Realty Trust from $9.50 to $8.75 and set a “market perform” rating for the company in a research note on Wednesday, March 18th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $10.38.

Sunrise Realty Trust Trading Down 2.8%

Sunrise Realty Trust stock opened at $8.07 on Tuesday. The firm has a market cap of $109.11 million, a PE ratio of 8.59, a P/E/G ratio of 0.62 and a beta of 0.90. Sunrise Realty Trust has a 12 month low of $7.80 and a 12 month high of $11.78. The stock’s 50 day simple moving average is $9.11 and its two-hundred day simple moving average is $9.68.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its earnings results on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.04). The firm had revenue of $7.17 million during the quarter, compared to analyst estimates of $7.13 million. Sunrise Realty Trust had a net margin of 56.29% and a return on equity of 7.70%. On average, equities research analysts forecast 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 Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 14.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Sunrise Realty Trust’s payout ratio is presently 127.66%.

Insiders Place Their Bets

In related news, Chairman Leonard M. Tannenbaum acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were acquired at an average cost of $9.40 per share, with a total value of $940,000.00. Following the completion of the acquisition, the chairman directly owned 585,681 shares in the company, valued at approximately $5,505,401.40. This trade represents a 20.59% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 24.80% of the company’s stock.

Institutional Trading of Sunrise Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Pacific Ridge Capital Partners LLC lifted its stake in Sunrise Realty Trust by 55.9% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 372,774 shares of the company’s stock valued at $3,873,000 after buying an additional 133,608 shares in the last quarter. Vanguard Group Inc. increased its stake in Sunrise Realty Trust by 19.2% during the 3rd quarter. Vanguard Group Inc. now owns 588,554 shares of the company’s stock worth $6,115,000 after buying an additional 94,628 shares in the last quarter. Gratia Capital LLC raised its holdings in shares of Sunrise Realty Trust by 19.9% during the second quarter. Gratia Capital LLC now owns 446,720 shares of the company’s stock valued at $4,735,000 after acquiring an additional 74,193 shares during the last quarter. Corsair Capital Management L.P. raised its holdings in shares of Sunrise Realty Trust by 407.0% during the fourth quarter. Corsair Capital Management L.P. now owns 50,704 shares of the company’s stock valued at $478,000 after acquiring an additional 40,704 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Sunrise Realty Trust by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 252,711 shares of the company’s stock valued at $2,383,000 after acquiring an additional 19,565 shares in 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.