Leonard M. Tannenbaum Acquires 17,495 Shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum purchased 17,495 shares of the stock in a transaction dated Friday, March 28th. The shares were bought at an average price of $11.17 per share, with a total value of $195,419.15. Following the completion of the acquisition, the chairman now directly owns 2,667,257 shares of the company’s stock, valued at approximately $29,793,260.69. This represents a 0.66 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Sunrise Realty Trust Stock Performance

Shares of SUNS opened at $10.94 on Thursday. The business has a 50-day moving average of $11.56 and a 200-day moving average of $13.35. 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 released its quarterly earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) 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. Sell-side analysts predict that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.30 per share. 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 10.97%.

Institutional Trading of Sunrise Realty Trust

Large investors have recently bought and sold shares of the business. State Street Corp bought a new stake in shares of Sunrise Realty Trust during the 3rd quarter valued at about $1,788,000. Geode Capital Management LLC bought a new position in shares of Sunrise Realty Trust during the 3rd quarter worth approximately $1,785,000. Barclays PLC acquired a new position in shares of Sunrise Realty Trust during the 3rd quarter valued at $106,000. Charles Schwab Investment Management Inc. bought a new position in Sunrise Realty Trust during the third quarter worth $231,000. Finally, JPMorgan Chase & Co. acquired a new stake in Sunrise Realty Trust in the third quarter worth $155,000.

Analysts Set New Price Targets

SUNS has been the subject of several research reports. Keefe, Bruyette & Woods dropped their target price 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 started coverage on shares of Sunrise Realty Trust in a research report on Thursday, February 13th. They set a “buy” rating and a $15.00 target price on the stock. Finally, 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 report on Monday, March 10th.

About Sunrise Realty Trust

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.