Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Purchases $276,500.00 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum acquired 25,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $11.06 per share, for a total transaction of $276,500.00. Following the completion of the purchase, the chairman now owns 2,469,282 shares of the company’s stock, valued at approximately $27,310,258.92. This represents a 1.02 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Sunrise Realty Trust Stock Down 0.4 %

SUNS opened at $11.00 on Tuesday. Sunrise Realty Trust, Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $15.74. The company has a fifty day moving average of $12.14 and a two-hundred day moving average of $13.60.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $3.45 million during the quarter, compared to analyst estimates of $3.25 million. Sell-side analysts predict that Sunrise Realty Trust, Inc. will post 0.58 earnings per share for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 10.91%.

Wall Street Analysts Forecast Growth

SUNS has been the subject of several recent analyst reports. Raymond James lowered 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 research note on Monday, March 10th. Keefe, Bruyette & Woods reduced their target price on shares of 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 initiated coverage on shares of Sunrise Realty Trust in a report on Thursday, February 13th. They set a “buy” rating and a $15.00 target price for the company.

Hedge Funds Weigh In On Sunrise Realty Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its position in Sunrise Realty Trust by 353.9% during the fourth 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 during the last quarter. Bank of America Corp DE boosted its position 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 during the last quarter. Barclays PLC acquired a new position in Sunrise Realty Trust during the third quarter worth about $106,000. Spire Wealth Management acquired a new position in Sunrise Realty Trust during the fourth quarter worth about $137,000. Finally, JPMorgan Chase & Co. acquired a new position in Sunrise Realty Trust in the 3rd quarter valued at about $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.