Sunrise Realty Trust (NASDAQ:SUNS) Rating Lowered to Strong Sell at Zacks Research

Sunrise Realty Trust (NASDAQ:SUNS) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

SUNS has been the subject of several other research reports. Keefe, Bruyette & Woods lifted their price target on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the stock 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 report on Saturday, May 16th. Finally, Weiss Ratings raised shares of Sunrise Realty Trust from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Sell” and an average target price of $8.00.

Sunrise Realty Trust Stock Down 6.8%

Sunrise Realty Trust stock opened at $7.90 on Monday. The business’s 50-day simple moving average is $8.14 and its 200 day simple moving average is $8.74. The stock has a market cap of $106.81 million, a price-to-earnings ratio of 7.98, a P/E/G ratio of 0.63 and a beta of 0.98. Sunrise Realty Trust has a 12-month low of $7.34 and a 12-month high of $11.78.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $10.27 million during the quarter, compared to analysts’ expectations of $6.18 million. As a group, sell-side analysts expect that Sunrise Realty Trust will post 1.22 EPS for the current year.

Institutional Investors Weigh In On Sunrise Realty Trust

Large investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its position in shares of Sunrise Realty Trust by 12.5% during the fourth quarter. Royal Bank of Canada now owns 13,782 shares of the company’s stock worth $130,000 after purchasing an additional 1,535 shares in the last quarter. Barclays PLC increased its position in shares of Sunrise Realty Trust by 7.3% in the 4th quarter. Barclays PLC now owns 22,183 shares of the company’s stock valued at $209,000 after buying an additional 1,518 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Sunrise Realty Trust by 58.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 28,246 shares of the company’s stock valued at $266,000 after buying an additional 10,442 shares in the last quarter. Alliancebernstein L.P. raised its stake in Sunrise Realty Trust by 16.3% during the 3rd quarter. Alliancebernstein L.P. now owns 15,672 shares of the company’s stock worth $163,000 after buying an additional 2,200 shares during the period. Finally, Curi Capital LLC acquired a new stake in Sunrise Realty Trust during the 2nd quarter worth $138,000.

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.