Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Buys $906,587.64 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum purchased 80,514 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were purchased at an average price of $11.26 per share, for a total transaction of $906,587.64. Following the purchase, the chairman now directly owns 2,623,803 shares in the company, valued at $29,544,021.78. The trade was a 3.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sunrise Realty Trust Stock Down 1.1 %

NASDAQ:SUNS opened at $11.25 on Friday. The stock has a 50 day moving average of $11.90 and a 200-day moving average of $13.50. 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 issued its quarterly earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $3.45 million for the quarter, compared to the consensus estimate of $3.25 million. As a group, sell-side analysts anticipate that Sunrise Realty Trust, Inc. will post 0.58 earnings per share for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

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

Analyst Ratings Changes

SUNS has been the subject of several recent analyst reports. Raymond James reduced their price target on Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating for the company in a report on Monday, March 10th. Keefe, Bruyette & Woods lowered their price target 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. Finally, B. Riley started coverage on Sunrise Realty Trust in a research note on Thursday, February 13th. They set a “buy” rating and a $15.00 price objective on the stock.

Institutional Investors Weigh In On Sunrise Realty Trust

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its stake 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 acquiring an additional 2,279 shares in the last quarter. Bank of America Corp DE boosted its position 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 buying an additional 1,952 shares during the period. Barclays PLC acquired a new stake in shares of Sunrise Realty Trust in the third quarter worth $106,000. Spire Wealth Management acquired a new stake in shares of Sunrise Realty Trust in the fourth quarter worth $137,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Sunrise Realty Trust in the third quarter worth $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.