Raymond James analyst Stephen Laws lowered the firm’s price target on Sunrise Realty Trust (SUNS) to $15 from $17.50 and keeps an Outperform rating on the shares. The price target reduction is a result of the recent common stock offering, wherein Sunrise Realty raised $69M of gross proceeds through a 5.75 million share offering, with use of proceeds being to grow the investment portfolio, the analyst tells investors in a research note.
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Read More on SUNS:
- Sunrise Realty Trust commits $44M to senior loan for Shell Plaza
- Sunrise Realty price target lowered to $14.50 from $16 at Alliance Global
- Sunrise Realty Trust Inc Expands Capital Through Stock Offering
- Sunrise Realty Trust prices 5.75M shares at $12.00 in upsized offering
- Sunrise Realty Trust 5.75M share Secondary priced at $12.00
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