Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Purchases $104,800.00 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 10,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average price of $10.48 per share, with a total value of $104,800.00. Following the purchase, the chairman now owns 2,785,216 shares of the company’s stock, valued at approximately $29,189,063.68. This represents a 0.36 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Sunrise Realty Trust Trading Up 1.4 %

SUNS stock opened at $10.61 on Friday. The business has a 50 day simple moving average of $10.29 and a 200-day simple moving average of $12.35. The company has a market capitalization of $142.40 million and a P/E ratio of 10.50. Sunrise Realty Trust, Inc. has a twelve month low of $7.80 and a twelve month high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $3.45 million during the quarter, compared to analyst estimates of $3.25 million. Research analysts predict that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 11.31%. The ex-dividend date of this dividend was Monday, March 31st. Sunrise Realty Trust’s payout ratio is currently 118.81%.

Institutional Investors Weigh In On Sunrise Realty Trust

Several hedge funds have recently modified their holdings of SUNS. Pacific Ridge Capital Partners LLC purchased a new position in Sunrise Realty Trust during the 1st quarter worth $2,142,000. Castalian Partners LLC purchased a new stake in Sunrise Realty Trust in the 4th quarter valued at approximately $2,709,000. Geode Capital Management LLC increased its position in Sunrise Realty Trust by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 125,942 shares of the company’s stock worth $1,773,000 after purchasing an additional 1,887 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Sunrise Realty Trust during the 4th quarter worth approximately $594,000. Finally, Marshall Wace LLP acquired a new stake in shares of Sunrise Realty Trust in the 4th quarter valued at approximately $475,000.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SUNS shares. Keefe, Bruyette & Woods dropped their price objective on Sunrise Realty Trust from $12.25 to $10.75 and set an “outperform” rating on the stock in a report on Monday, April 7th. Oppenheimer began coverage on shares of Sunrise Realty Trust in a report on Thursday, April 17th. They set an “outperform” rating and a $12.00 price objective on the stock. Raymond James reduced their price objective on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating for the company in a research report on Monday, March 10th. Finally, B. Riley assumed coverage on shares of Sunrise Realty Trust in a research note on Thursday, February 13th. They set a “buy” rating and a $15.00 price target on the stock. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Sunrise Realty Trust presently has a consensus rating of “Buy” and an average target price of $13.06.

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.