Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Short Interest Down 60.7% in June

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 274,493 shares, a decline of 60.7% from the June 15th total of 697,958 shares. Based on an average daily volume of 231,794 shares, the short-interest ratio is currently 1.2 days. Currently, 2.8% of the shares of the company are sold short.

Sunrise Realty Trust Price Performance

Shares of NASDAQ:SUNS traded up $0.14 during mid-day trading on Tuesday, reaching $8.26. 23,161 shares of the company traded hands, compared to its average volume of 104,697. The company’s 50 day moving average price is $8.23 and its 200-day moving average price is $8.61. The firm has a market cap of $111.72 million, a PE ratio of 8.34, a PEG ratio of 0.61 and a beta of 1.02. Sunrise Realty Trust has a 52 week low of $7.34 and a 52 week high of $11.78.

Sunrise Realty Trust (NASDAQ:SUNS) last released its earnings results on Thursday, May 14th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Sunrise Realty Trust had a net margin of 54.82% and a return on equity of 8.33%. The company had revenue of $10.27 million for the quarter, compared to analysts’ expectations of $6.18 million. On average, research analysts predict that Sunrise Realty Trust 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 will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 14.5%. The ex-dividend date is Tuesday, June 30th. Sunrise Realty Trust’s dividend payout ratio (DPR) is presently 121.21%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Quantinno Capital Management LP increased its stake in Sunrise Realty Trust by 22.9% in the 1st quarter. Quantinno Capital Management LP now owns 50,951 shares of the company’s stock worth $391,000 after buying an additional 9,510 shares in the last quarter. GatePass Capital LLC purchased a new position in Sunrise Realty Trust in the 1st quarter worth approximately $588,000. Hsbc Holdings PLC bought a new position in Sunrise Realty Trust in the 1st quarter worth approximately $87,000. Osaic Holdings Inc. boosted its position in shares of Sunrise Realty Trust by 7.1% during the fourth quarter. Osaic Holdings Inc. now owns 16,947 shares of the company’s stock worth $160,000 after acquiring an additional 1,127 shares during the last quarter. Finally, Corsair Capital Management L.P. grew its stake in Sunrise Realty Trust by 407.0% during the fourth quarter. Corsair Capital Management L.P. now owns 50,704 shares of the company’s stock valued at $478,000 after acquiring an additional 40,704 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages have issued reports on SUNS. Wall Street Zen raised Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. 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. Keefe, Bruyette & Woods increased their price objective on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the stock a “market perform” rating in a research note on Monday, May 18th. Finally, Weiss Ratings raised shares of Sunrise Realty Trust from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, June 26th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Sunrise Realty Trust has a consensus rating of “Sell” 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.