Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Acquires $292,038.75 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 25,959 shares of the company’s stock in a transaction dated Wednesday, March 26th. The stock was purchased at an average cost of $11.25 per share, for a total transaction of $292,038.75. Following the completion of the acquisition, the chairman now owns 2,649,762 shares in the company, valued at $29,809,822.50. This trade represents a 0.99 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Sunrise Realty Trust Price Performance

Shares of NASDAQ:SUNS opened at $11.29 on Friday. The business’s 50 day simple moving average is $11.72 and its 200 day simple moving average is $13.43. Sunrise Realty Trust, Inc. has a 1 year low of $8.11 and a 1 year high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $3.45 million for the quarter, compared to the consensus estimate of $3.25 million. On average, equities analysts predict that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current year.

Sunrise Realty Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a yield of 10.63%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SUNS shares. B. Riley began coverage on Sunrise Realty Trust in a research report on Thursday, February 13th. They issued a “buy” rating and a $15.00 price objective for the company. Keefe, Bruyette & Woods dropped their price objective on shares of Sunrise Realty Trust from $12.75 to $12.25 and set an “outperform” rating on the stock in a research report on Monday, March 10th. Finally, Raymond James reduced their target price on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating for the company in a report on Monday, March 10th.

Institutional Investors Weigh In On Sunrise Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its holdings in shares of Sunrise Realty Trust by 353.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock worth $41,000 after buying an additional 2,279 shares in the last quarter. Bank of America Corp DE raised its stake in Sunrise Realty Trust by 60.4% during the fourth quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock worth $73,000 after acquiring an additional 1,952 shares in the last quarter. Barclays PLC bought a new position in shares of Sunrise Realty Trust in the third quarter worth about $106,000. Spire Wealth Management acquired a new stake in shares of Sunrise Realty Trust in the 4th quarter valued at approximately $137,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Sunrise Realty Trust during the 3rd quarter valued at approximately $155,000.

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.