Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Purchases 25,000 Shares

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $11.06 per share, with a total value of $276,500.00. Following the completion of the transaction, the chairman now directly owns 2,469,282 shares in the company, valued at $27,310,258.92. This represents a 1.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Sunrise Realty Trust Stock Performance

Shares of SUNS traded down $0.04 on Monday, reaching $11.00. 138,355 shares of the company’s stock traded hands, compared to its average volume of 94,703. The stock’s 50 day simple moving average is $12.14 and its two-hundred day simple moving average is $13.60. Sunrise Realty Trust, Inc. has a 52-week low of $8.11 and a 52-week 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 (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $3.45 million for the quarter, compared to analysts’ expectations of $3.25 million. As a group, sell-side analysts forecast that Sunrise Realty Trust, Inc. will post 0.58 earnings per share 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 issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 10.91%. The ex-dividend date is Monday, March 31st.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Sunrise Realty Trust

Institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP bought a new stake in Sunrise Realty Trust during the third quarter valued at $8,875,000. Castalian Partners LLC purchased a new stake in shares of Sunrise Realty Trust in the 4th quarter valued at about $2,709,000. Geode Capital Management LLC boosted its position in shares of Sunrise Realty Trust by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 125,942 shares of the company’s stock valued at $1,773,000 after acquiring an additional 1,887 shares during the last quarter. State Street Corp purchased a new position in shares of Sunrise Realty Trust during the third quarter worth about $1,788,000. Finally, Renaissance Technologies LLC bought a new position in shares of Sunrise Realty Trust in the 4th quarter worth $594,000.

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.