Insider Buying: Sunrise Realty Trust (NASDAQ:SUNS) Chairman Purchases 3,592 Shares of Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum acquired 3,592 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average price of $9.48 per share, for a total transaction of $34,052.16. Following the completion of the purchase, the chairman owned 2,976,818 shares of the company’s stock, valued at approximately $28,220,234.64. This represents a 0.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Sunrise Realty Trust Stock Performance

Shares of SUNS stock traded down $0.23 during midday trading on Thursday, reaching $9.36. 95,126 shares of the company were exchanged, compared to its average volume of 55,653. The company’s 50 day moving average price is $10.03 and its two-hundred day moving average price is $10.48. The company has a market cap of $125.61 million, a P/E ratio of 8.59, a PEG ratio of 0.75 and a beta of 0.93. Sunrise Realty Trust, Inc. has a 12 month low of $7.80 and a 12 month high of $15.70.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its earnings results on Tuesday, April 22nd. The company reported $0.30 EPS for the quarter. Sunrise Realty Trust had a return on equity of 7.76% and a net margin of 62.48%. Sunrise Realty Trust has set its Q1 2025 guidance at 0.300-0.320 EPS. As a group, sell-side analysts predict that Sunrise Realty Trust, Inc. will post 0.58 earnings per share for the current year.

Sunrise Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.20 annualized dividend and a dividend yield of 12.8%. Sunrise Realty Trust’s payout ratio is currently 110.09%.

Institutional Trading of Sunrise Realty Trust

Hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its holdings in shares of Sunrise Realty Trust by 61.6% during the second quarter. Nisa Investment Advisors LLC now owns 3,014 shares of the company’s stock valued at $33,000 after buying an additional 1,149 shares in the last quarter. Rhumbline Advisers grew its stake in Sunrise Realty Trust by 22.5% during the 1st quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock valued at $108,000 after acquiring an additional 1,794 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Sunrise Realty Trust by 60.4% in the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock valued at $73,000 after purchasing an additional 1,952 shares during the period. Alliancebernstein L.P. lifted its position in shares of Sunrise Realty Trust by 16.3% in the third quarter. Alliancebernstein L.P. now owns 15,672 shares of the company’s stock worth $163,000 after purchasing an additional 2,200 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Sunrise Realty Trust during the first quarter worth approximately $25,000.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Sunrise Realty Trust from $11.25 to $11.00 and set an “outperform” rating on the stock in a research report on Wednesday. Weiss Ratings reissued a “sell (d)” rating on shares of Sunrise Realty Trust in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.13.

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.