GatePass Capital LLC Purchases New Position in Sunrise Realty Trust, Inc. $SUNS

GatePass Capital LLC purchased a new stake in Sunrise Realty Trust, Inc. (NASDAQ:SUNS) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 76,700 shares of the company’s stock, valued at approximately $588,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Sunrise Realty Trust by 19.2% during the third quarter. Vanguard Group Inc. now owns 588,554 shares of the company’s stock worth $6,115,000 after buying an additional 94,628 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Sunrise Realty Trust by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 252,711 shares of the company’s stock valued at $2,383,000 after acquiring an additional 19,565 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Sunrise Realty Trust by 8.0% in the 4th quarter. Stifel Financial Corp now owns 77,700 shares of the company’s stock worth $733,000 after acquiring an additional 5,760 shares in the last quarter. Corsair Capital Management L.P. boosted its holdings in shares of Sunrise Realty Trust by 407.0% in the 4th quarter. Corsair Capital Management L.P. now owns 50,704 shares of the company’s stock worth $478,000 after acquiring an additional 40,704 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Sunrise Realty Trust by 67.3% during the 4th quarter. Renaissance Technologies LLC now owns 47,000 shares of the company’s stock worth $443,000 after acquiring an additional 18,900 shares during the last quarter.

Sunrise Realty Trust Stock Performance

NASDAQ SUNS opened at $8.30 on Friday. The stock has a market capitalization of $112.22 million, a P/E ratio of 8.38, a price-to-earnings-growth ratio of 0.65 and a beta of 1.02. Sunrise Realty Trust, Inc. has a 52 week low of $7.34 and a 52 week high of $11.78. The stock has a fifty day moving average of $8.29 and a 200-day moving average of $8.57.

Sunrise Realty Trust (NASDAQ:SUNS) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The business had revenue of $10.27 million for the quarter, compared to analyst estimates of $6.18 million. Sunrise Realty Trust had a return on equity of 8.33% and a net margin of 54.82%. Equities research analysts forecast that Sunrise Realty Trust, Inc. will post 1.2 earnings per share for the current fiscal year.

Sunrise Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 14.5%. The ex-dividend date of this dividend was Tuesday, June 30th. Sunrise Realty Trust’s payout ratio is currently 121.21%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Weiss Ratings cut Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday. Wall Street Zen raised Sunrise Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Keefe, Bruyette & Woods upped their price target on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the stock a “market perform” rating in a research report on Monday, May 18th. Finally, Zacks Research lowered shares of Sunrise Realty Trust from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Sell” and a consensus target price of $8.00.

About Sunrise Realty Trust

Sunrise Realty Trust is a real estate investment trust (REIT) that focuses on acquiring, owning and leasing convenience store and fuel retail properties under long-term net leases. The company targets sale-leaseback transactions and joint-venture investments with high-credit tenants in the convenience retail sector. Sunrise Realty Trust’s portfolio comprises single-tenant properties that benefit from predictable cash flows, structured lease agreements and tenant-driven site improvements, providing exposure to a segment of the retail real estate market that aligns closely with consumer essentials.

The company’s primary business activities include sourcing and underwriting new property investments, negotiating sale-leaseback and ground lease transactions, and managing asset performance throughout the lease term.