Sunrise Realty Trust initiated with a Buy at Alliance Global Partners

Alliance Global Partners analyst Gaurav Mehta initiated coverage of Sunrise Realty Trust (SUNS) with a Buy rating and $16 price target Sunrise is an institutional lender with a focus on originating and funding secured loans collateralized by commercial real estate projects in the Southern U.S., notes the analyst, whose Buy rating is based on a “strong” loan pipeline that provides an opportunity to grow as well as the company’s lack of legacy loans with issues.