Sunrise Realty Trust (NASDAQ:SUNS) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

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

Sunrise Realty Trust Trading Down 0.6 %

Shares of SUNS traded down $0.08 during mid-day trading on Thursday, reaching $11.84. 14,425 shares of the company’s stock were exchanged, compared to its average volume of 148,571. Sunrise Realty Trust has a 52-week low of $8.11 and a 52-week high of $15.74. The company has a 50-day simple moving average of $12.60 and a two-hundred day simple moving average of $13.70.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods assumed coverage on Sunrise Realty Trust in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $12.75 price target on the stock. B. Riley began coverage on shares of Sunrise Realty Trust in a report on Thursday, February 13th. They issued a “buy” rating and a $15.00 price target for the company. Finally, Raymond James reissued an “outperform” rating and set a $15.00 price objective (down previously from $17.50) on shares of Sunrise Realty Trust in a report on Monday, February 3rd.

Insiders Place Their Bets

In other news, Chairman Leonard M. Tannenbaum purchased 1,000,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average cost of $12.00 per share, with a total value of $12,000,000.00. Following the purchase, the chairman now directly owns 2,434,213 shares of the company’s stock, valued at approximately $29,210,556. This trade represents a 69.72 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders purchased 1,087,429 shares of company stock valued at $13,171,696. Corporate insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Sunrise Realty Trust

An institutional investor recently raised its position in Sunrise Realty Trust stock. Bank of America Corp DE boosted its holdings in Sunrise Realty Trust, Inc. (NASDAQ:SUNS) by 60.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,183 shares of the company’s stock after buying an additional 1,952 shares during the period. Bank of America Corp DE owned approximately 0.07% of Sunrise Realty Trust worth $73,000 at the end of the most recent reporting period.

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.