Sunrise Realty Trust (NASDAQ:SUNS) Shares Down 1.4% – Here’s What Happened

Sunrise Realty Trust, Inc. (NASDAQ:SUNS)’s share price fell 1.4% during trading on Wednesday . The company traded as low as $8.41 and last traded at $8.41. 39,237 shares were traded during trading, a decline of 52% from the average session volume of 82,160 shares. The stock had previously closed at $8.53.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SUNS shares. Keefe, Bruyette & Woods increased their target price on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the company a “market perform” rating in a research report on Monday, May 18th. Wall Street Zen upgraded shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research upgraded shares of Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Weiss Ratings cut shares of Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Sunrise Realty Trust presently has a consensus rating of “Reduce” and a consensus price target of $8.00.

Sunrise Realty Trust Stock Performance

The business has a 50-day moving average of $7.95 and a 200-day moving average of $8.89. The stock has a market capitalization of $113.70 million, a price-to-earnings ratio of 8.49, a PEG ratio of 0.64 and a beta of 0.98.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Sunrise Realty Trust had a return on equity of 8.33% and a net margin of 54.82%.The company had revenue of $10.27 million during the quarter, compared to analysts’ expectations of $6.18 million. On average, research analysts predict that Sunrise Realty Trust, Inc. will post 1.22 earnings per share for the current fiscal year.

Institutional Trading of Sunrise Realty Trust

Several hedge funds have recently made changes to their positions in SUNS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Sunrise Realty Trust by 90.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company’s stock worth $67,000 after acquiring an additional 2,880 shares during the period. Bank of America Corp DE lifted its holdings in shares of 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 valued at $73,000 after buying an additional 1,952 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Sunrise Realty Trust in the 1st quarter valued at approximately $87,000. Wells Fargo & Company MN lifted its holdings in shares of Sunrise Realty Trust by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 11,394 shares of the company’s stock valued at $107,000 after buying an additional 3,602 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Sunrise Realty Trust by 22.5% in the 1st quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock valued at $108,000 after buying an additional 1,794 shares during the period.

Sunrise Realty Trust Company Profile

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.