Leonard Tannenbaum Buys 10,000 Shares of Sunrise Realty Trust (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were bought at an average price of $10.79 per share, with a total value of $107,900.00. Following the transaction, the chairman owned 2,923,226 shares in the company, valued at $31,541,608.54. This represents a 0.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Sunrise Realty Trust Trading Up 2.4%

Sunrise Realty Trust stock opened at $11.20 on Thursday. The stock has a market cap of $150.30 million and a PE ratio of 10.77. The stock has a 50-day moving average price of $10.65 and a 200 day moving average price of $10.68. Sunrise Realty Trust, Inc. has a 52 week low of $7.80 and a 52 week high of $15.74.

Sunrise Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 10.7%. The ex-dividend date of this dividend was Monday, June 30th. Sunrise Realty Trust’s dividend payout ratio (DPR) is presently 115.38%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods decreased their price target on Sunrise Realty Trust from $11.50 to $11.25 and set an “outperform” rating on the stock in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $13.19.

Hedge Funds Weigh In On Sunrise Realty Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers lifted its stake in shares of Sunrise Realty Trust by 22.5% in the 1st quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock valued at $108,000 after purchasing an additional 1,794 shares in the last quarter. Castalian Partners LLC acquired a new position in shares of Sunrise Realty Trust in the 4th quarter valued at about $2,709,000. Pacific Ridge Capital Partners LLC acquired a new position in shares of Sunrise Realty Trust in the 1st quarter valued at about $2,142,000. Marshall Wace LLP acquired a new position in shares of Sunrise Realty Trust in the 4th quarter valued at about $475,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Sunrise Realty Trust by 31.0% in the 1st quarter. Bank of New York Mellon Corp now owns 27,609 shares of the company’s stock valued at $306,000 after purchasing an additional 6,538 shares in the last quarter.

Sunrise Realty Trust Company Profile

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.