Sunrise Realty Trust, Inc. (SUNS) To Go Ex-Dividend on March 31st

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) declared a quarterly dividend on Tuesday, March 4th, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.30 per share on Tuesday, April 15th. This represents a $1.20 dividend on an annualized basis and a yield of 10.70%. The ex-dividend date is Monday, March 31st.

Sunrise Realty Trust Stock Performance

SUNS traded down $0.08 during trading on Friday, reaching $11.21. The company had a trading volume of 154,336 shares, compared to its average volume of 101,424. The business’s fifty day moving average price is $11.66 and its 200 day moving average price is $13.42. Sunrise Realty Trust has a 12 month low of $8.11 and a 12 month high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last released its quarterly earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $3.45 million during the quarter, compared to analyst estimates of $3.25 million. On average, analysts forecast that Sunrise Realty Trust will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

SUNS has been the subject of several analyst reports. Keefe, Bruyette & Woods decreased their price objective on Sunrise Realty Trust from $12.75 to $12.25 and set an “outperform” rating for the company in a report on Monday, March 10th. Raymond James dropped their price objective on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating on the stock in a research report on Monday, March 10th. Finally, B. Riley began coverage on shares of Sunrise Realty Trust in a report on Thursday, February 13th. They set a “buy” rating and a $15.00 target price for the company.

Insider Buying and Selling

In other news, Chairman Leonard M. Tannenbaum acquired 25,000 shares of Sunrise Realty Trust stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $11.06 per share, for a total transaction of $276,500.00. Following the completion of the purchase, the chairman now directly owns 2,469,282 shares of the company’s stock, valued at approximately $27,310,258.92. This represents a 1.02 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have purchased 1,181,473 shares of company stock valued at $14,026,626 over the last 90 days. 5.70% of the stock is owned by corporate insiders.

Institutional Trading of Sunrise Realty Trust

A hedge fund recently raised its stake in Sunrise Realty Trust stock. Bank of America Corp DE lifted its position in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) by 60.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,183 shares of the company’s stock after purchasing an additional 1,952 shares during the period. Bank of America Corp DE owned about 0.07% of Sunrise Realty Trust worth $73,000 as of its most recent filing with the Securities and Exchange Commission.

About Sunrise Realty Trust

Sunrise Realty Trust, Inc engages in commercial real estate (CRE) lending business. It focuses on originating CRE debt investments and providing capital to borrowers and sponsors with transitional business plans collateralized by CRE assets. The company intends to create a diversified investment portfolio, targeting investments in senior mortgage loans, mezzanine loans, whole loans, B-notes, CMBS, and debt-like preferred equity securities across CRE asset classes.