Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Buys 80,514 Shares

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum acquired 80,514 shares of Sunrise Realty Trust stock in a transaction that occurred on Wednesday, March 19th. The shares were purchased at an average cost of $11.26 per share, with a total value of $906,587.64. Following the transaction, the chairman now owns 2,623,803 shares of the company’s stock, valued at approximately $29,544,021.78. The trade was a 3.17 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Sunrise Realty Trust Stock Performance

NASDAQ SUNS opened at $11.25 on Friday. Sunrise Realty Trust, Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $15.74. The stock’s 50-day moving average is $11.90 and its two-hundred day moving average is $13.50.

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

Sunrise Realty Trust Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.20 annualized dividend and a yield of 10.67%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Sunrise Realty Trust

Several institutional investors have recently bought and sold shares of SUNS. Bank of America Corp DE increased its stake in shares of Sunrise Realty Trust by 60.4% in the fourth quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock worth $73,000 after purchasing an additional 1,952 shares during the period. Castalian Partners LLC acquired a new position in shares of Sunrise Realty Trust in the 4th quarter worth approximately $2,709,000. Tower Research Capital LLC TRC raised its position in Sunrise Realty Trust by 353.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock worth $41,000 after purchasing an additional 2,279 shares during the last quarter. Marshall Wace LLP bought a new position in Sunrise Realty Trust in the 4th quarter worth approximately $475,000. Finally, Barclays PLC raised its position in Sunrise Realty Trust by 14.8% in the 4th quarter. Barclays PLC now owns 8,484 shares of the company’s stock worth $120,000 after purchasing an additional 1,092 shares during 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.