Sunrise Realty Trust (NASDAQ:SUNS) Chairman Buys $152,000.00 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average price of $7.60 per share, with a total value of $152,000.00. Following the completion of the transaction, the chairman owned 3,092,719 shares of the company’s stock, valued at $23,504,664.40. This represents a 0.65% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Sunrise Realty Trust Stock Performance

Shares of SUNS stock traded down $0.01 during trading on Thursday, hitting $7.50. The company had a trading volume of 258,009 shares, compared to its average volume of 100,665. The firm has a market capitalization of $101.40 million, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 0.57 and a beta of 1.02. Sunrise Realty Trust, Inc. has a one year low of $7.34 and a one year high of $11.78. The stock’s 50-day moving average price is $8.17 and its 200 day moving average price is $8.37.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The company had revenue of $8.56 million for the quarter, compared to the consensus estimate of $7.17 million. Sunrise Realty Trust had a return on equity of 8.24% and a net margin of 53.33%. On average, research analysts anticipate that Sunrise Realty Trust, Inc. will post 1.2 earnings per share for the current fiscal year.

Sunrise Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.30 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.0%. Sunrise Realty Trust’s dividend payout ratio (DPR) is presently 123.71%.

Institutional Investors Weigh In On Sunrise Realty Trust

Large investors have recently modified their holdings of the business. Bank of America Corp DE increased its stake 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Sunrise Realty Trust by 90.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company’s stock worth $67,000 after buying an additional 2,880 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Sunrise Realty Trust by 22.5% during the 1st quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock worth $108,000 after buying an additional 1,794 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Sunrise Realty Trust by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,394 shares of the company’s stock valued at $107,000 after buying an additional 3,602 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Sunrise Realty Trust in the first quarter valued at about $87,000.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SUNS shares. Zacks Research raised shares of Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings lowered shares of Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 16th. Wall Street Zen upgraded shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the company a “market perform” rating in a research report on Monday, May 18th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target 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.