Insider Buying: Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Buys 17,495 Shares of Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 17,495 shares of the company’s stock in a transaction on Friday, March 28th. The shares were purchased at an average cost of $11.17 per share, for a total transaction of $195,419.15. Following the transaction, the chairman now owns 2,667,257 shares in the company, valued at approximately $29,793,260.69. This represents a 0.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sunrise Realty Trust Trading Down 1.5 %

Shares of SUNS stock traded down $0.17 on Tuesday, reaching $10.90. The company’s stock had a trading volume of 78,036 shares, compared to its average volume of 101,640. The stock’s 50 day simple moving average is $11.60 and its 200-day simple moving average is $13.39. Sunrise Realty Trust, Inc. has a 12-month low of $8.11 and a 12-month high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last issued its earnings results on Thursday, March 6th. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $3.45 million during the quarter, compared to analysts’ expectations of $3.25 million. On average, equities research analysts anticipate that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

The company 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 11.01%. The ex-dividend date is Monday, March 31st.

Institutional Trading of Sunrise Realty Trust

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

Analyst Upgrades and Downgrades

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

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.