Sunrise Realty Trust (NASDAQ:SUNS – Get Free Report) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.
A number of other analysts have also commented on SUNS. Wall Street Zen raised Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Keefe, Bruyette & Woods raised 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, Weiss Ratings upgraded Sunrise Realty Trust from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Sell” and a consensus target price of $8.00.
Check Out Our Latest Research Report on SUNS
Sunrise Realty Trust Stock Performance
Sunrise Realty Trust (NASDAQ:SUNS – Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. Sunrise Realty Trust had a net margin of 54.82% and a return on equity of 8.33%. The business had revenue of $10.27 million for the quarter, compared to analyst estimates of $6.18 million. On average, equities research analysts forecast that Sunrise Realty Trust will post 1.22 EPS for the current year.
Institutional Investors Weigh In On Sunrise Realty Trust
A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in Sunrise Realty Trust by 60.4% during the fourth quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock valued at $73,000 after purchasing an additional 1,952 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Sunrise Realty Trust in the first quarter valued at $139,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 buying an additional 2,880 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Sunrise Realty Trust by 53.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 27,911 shares of the company’s stock worth $309,000 after acquiring an additional 9,732 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Sunrise Realty Trust by 22.5% during the 1st quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock worth $108,000 after acquiring 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.
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