Zacks Research Downgrades Sunrise Realty Trust (NASDAQ:SUNS) to Strong Sell

Sunrise Realty Trust (NASDAQ:SUNS) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Sunrise Realty Trust in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods decreased their price target on shares of Sunrise Realty Trust from $9.50 to $8.75 and set a “market perform” rating on the stock in a research note on Wednesday, March 18th. Finally, Wall Street Zen cut Sunrise Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $10.38.

Sunrise Realty Trust Stock Performance

Sunrise Realty Trust stock opened at $8.30 on Tuesday. The stock has a market capitalization of $112.22 million, a P/E ratio of 8.83, a P/E/G ratio of 0.62 and a beta of 0.90. The company’s fifty day moving average price is $9.14 and its 200 day moving average price is $9.69. Sunrise Realty Trust has a 1 year low of $7.80 and a 1 year high of $11.78.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.04). The company had revenue of $7.17 million for the quarter, compared to analyst estimates of $7.13 million. Sunrise Realty Trust had a return on equity of 7.70% and a net margin of 56.29%. Sell-side analysts predict that Sunrise Realty Trust will post 0.58 EPS for the current year.

Insider Activity at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum purchased 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were purchased at an average cost of $9.40 per share, with a total value of $940,000.00. Following the completion of the purchase, the chairman owned 585,681 shares in the company, valued at approximately $5,505,401.40. This represents a 20.59% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 24.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sunrise Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 valued at $67,000 after acquiring an additional 2,880 shares in the last quarter. Bank of America Corp DE lifted its stake in Sunrise Realty Trust by 60.4% in the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock worth $73,000 after purchasing an additional 1,952 shares in the last quarter. GatePass Capital LLC acquired a new position in shares of Sunrise Realty Trust during the 2nd quarter worth approximately $106,000. Corsair Capital Management L.P. acquired a new position in shares of Sunrise Realty Trust during the 2nd quarter worth approximately $106,000. Finally, Wells Fargo & Company MN grew its position in shares of Sunrise Realty Trust by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,394 shares of the company’s stock valued at $107,000 after purchasing an additional 3,602 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.