Wasatch Advisors LP lowered its stake in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS – Free Report) by 38.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 365,219 shares of the company’s stock after selling 228,609 shares during the quarter. Wasatch Advisors LP owned approximately 2.70% of Sunrise Realty Trust worth $2,801,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Bank of America Corp DE raised its stake in Sunrise Realty Trust by 60.4% during the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock worth $73,000 after acquiring an additional 1,952 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Sunrise Realty Trust by 90.1% in the first 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. Rhumbline Advisers boosted its stake in Sunrise Realty Trust by 22.5% in the first quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock valued at $108,000 after acquiring an additional 1,794 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Sunrise Realty Trust by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 11,394 shares of the company’s stock worth $107,000 after purchasing an additional 3,602 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Sunrise Realty Trust during the first quarter worth about $139,000.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Wall Street Zen raised Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings raised Sunrise Realty Trust from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday. Keefe, Bruyette & Woods boosted their price objective on Sunrise Realty Trust from $7.75 to $8.00 and gave the company a “market perform” rating in a research note on Monday, May 18th. Finally, Zacks Research raised Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $8.00.
Sunrise Realty Trust Stock Down 2.0%
Shares of SUNS stock opened at $8.42 on Friday. The stock’s 50-day moving average price is $8.12 and its 200 day moving average price is $8.77. The stock has a market capitalization of $113.84 million, a PE ratio of 8.51, a price-to-earnings-growth ratio of 0.63 and a beta of 0.98. Sunrise Realty Trust, Inc. has a 52-week low of $7.34 and a 52-week high of $11.78.
Sunrise Realty Trust (NASDAQ:SUNS – Get Free Report) 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. The company had revenue of $10.27 million during the quarter, compared to analysts’ expectations of $6.18 million. Sunrise Realty Trust had a return on equity of 8.33% and a net margin of 54.82%. Analysts expect that Sunrise Realty Trust, Inc. will post 1.22 earnings per share for the current fiscal year.
Sunrise Realty Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 14.3%. The ex-dividend date is Tuesday, June 30th. Sunrise Realty Trust’s dividend payout ratio (DPR) is 121.21%.
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.
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