Leonard Tannenbaum Acquires 50,000 Shares of Sunrise Realty Trust (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum purchased 50,000 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $7.50 per share, with a total value of $375,000.00. Following the completion of the acquisition, the chairman directly owned 3,142,719 shares in the company, valued at $23,570,392.50. The trade was a 1.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Sunrise Realty Trust Price Performance

Shares of SUNS opened at $7.90 on Wednesday. The firm’s 50 day moving average is $8.10 and its 200-day moving average is $8.33. Sunrise Realty Trust, Inc. has a 12-month low of $7.34 and a 12-month high of $11.78. The stock has a market capitalization of $106.81 million, a P/E ratio of 8.14, a P/E/G ratio of 0.59 and a beta of 1.02.

Sunrise Realty Trust (NASDAQ:SUNS) last released its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $8.56 million for the quarter, compared to analyst estimates of $7.17 million. Sunrise Realty Trust had a net margin of 53.33% and a return on equity of 8.25%. As a group, equities research analysts forecast that Sunrise Realty Trust, Inc. will post 1.2 EPS for the current fiscal year.

Sunrise Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 15.2%. The ex-dividend date was Tuesday, June 30th. Sunrise Realty Trust’s dividend payout ratio is 123.71%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SUNS. Keefe, Bruyette & Woods boosted their target price on 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. Weiss Ratings cut Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, July 16th. Zacks Research upgraded Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Wall Street Zen raised shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Sunrise Realty Trust has a consensus rating of “Reduce” and an average price target of $8.00.

Institutional Trading of Sunrise Realty Trust

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Sunrise Realty Trust in the 2nd quarter worth about $1,038,000. Vanguard Group Inc. increased its holdings in shares of Sunrise Realty Trust by 19.2% in the 3rd quarter. Vanguard Group Inc. now owns 588,554 shares of the company’s stock valued at $6,115,000 after purchasing an additional 94,628 shares during the period. GatePass Capital LLC acquired a new position in shares of Sunrise Realty Trust in the 1st quarter valued at about $588,000. Corsair Capital Management L.P. lifted its position in shares of Sunrise Realty Trust by 407.0% in the fourth quarter. Corsair Capital Management L.P. now owns 50,704 shares of the company’s stock worth $478,000 after purchasing an additional 40,704 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position 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 worth $2,383,000 after purchasing an additional 19,565 shares in the last quarter.

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.