Sunrise Realty Trust (SUNS) Expected to Announce Quarterly Earnings on Thursday

Sunrise Realty Trust (NASDAQ:SUNS) is anticipated to post its quarterly earnings results before the market opens on Thursday, March 6th. Analysts expect Sunrise Realty Trust to post earnings of $0.32 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Sunrise Realty Trust Stock Down 0.8 %

NASDAQ:SUNS opened at $12.08 on Tuesday. Sunrise Realty Trust has a 12 month low of $8.11 and a 12 month high of $15.74. The company has a 50 day simple moving average of $12.72 and a two-hundred day simple moving average of $13.70.

Insider Activity at Sunrise Realty Trust

In other news, Chairman Leonard M. Tannenbaum bought 39,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average price of $13.42 per share, for a total transaction of $523,380.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders have bought 1,087,429 shares of company stock worth $13,171,696. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sunrise Realty Trust stock. Bank of America Corp DE lifted its position in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) by 60.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 approximately 0.07% of Sunrise Realty Trust worth $73,000 at the end of the most recent quarter.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Raymond James reaffirmed an “outperform” rating and issued a $15.00 target price (down previously from $17.50) on shares of Sunrise Realty Trust in a research report on Monday, February 3rd. B. Riley initiated coverage on shares of 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, Keefe, Bruyette & Woods initiated coverage on shares of Sunrise Realty Trust in a research note on Tuesday, February 11th. They set an “outperform” rating and a $12.75 price target on the stock.

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.