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

Sunrise Realty Trust (NASDAQ:SUNS) posted its earnings results on Thursday. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02), Zacks reports.

Sunrise Realty Trust Trading Down 0.6 %

SUNS traded down $0.08 during trading on Thursday, reaching $11.84. The company’s stock had a trading volume of 14,425 shares, compared to its average volume of 148,571. Sunrise Realty Trust has a 1 year low of $8.11 and a 1 year high of $15.74. The firm has a fifty day simple moving average of $12.60 and a two-hundred day simple moving average of $13.70.

Wall Street Analysts Forecast Growth

SUNS has been the topic of several recent research reports. Keefe, Bruyette & Woods began coverage on shares of Sunrise Realty Trust in a research report on Tuesday, February 11th. They set an “outperform” rating and a $12.75 target price on the stock. B. Riley started coverage on Sunrise Realty Trust in a research note on Thursday, February 13th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Raymond James reaffirmed an “outperform” rating and issued a $15.00 price objective (down from $17.50) on shares of Sunrise Realty Trust in a report on Monday, February 3rd.

Insider Buying and Selling at Sunrise Realty Trust

In related news, Chairman Leonard M. Tannenbaum acquired 39,000 shares of the stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average cost of $13.42 per share, with a total value of $523,380.00. Following the completion of the transaction, the chairman now owns 1,373,376 shares in the company, valued at $18,430,705.92. This represents a 2.92 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have bought 1,087,429 shares of company stock worth $13,171,696 in the last ninety days. 5.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunrise Realty Trust

An institutional investor recently raised its position in Sunrise Realty Trust stock. Bank of America Corp DE increased its position 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 & Exchange Commission. The fund owned 5,183 shares of the company’s stock after buying an additional 1,952 shares during the quarter. Bank of America Corp DE owned about 0.07% of Sunrise Realty Trust worth $73,000 as of its most recent SEC filing.

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.