Insider Buying: Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Buys 44,065 Shares of Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 44,065 shares of the stock in a transaction on Monday, March 31st. The shares were purchased at an average price of $10.89 per share, with a total value of $479,867.85. Following the acquisition, the chairman now owns 2,711,322 shares in the company, valued at approximately $29,526,296.58. This represents a 1.65 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Sunrise Realty Trust Stock Performance

NASDAQ SUNS traded down $0.17 during trading hours on Tuesday, hitting $10.90. 78,036 shares of the company traded hands, compared to its average volume of 101,640. The business’s 50-day moving average is $11.60 and its 200-day moving average is $13.39. Sunrise Realty Trust, Inc. has a twelve month low of $8.11 and a twelve month high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last released its quarterly earnings data on Thursday, March 6th. The company reported $0.30 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. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 11.01%. The ex-dividend date of this dividend is Monday, March 31st.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. 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 objective for the company. Keefe, Bruyette & Woods decreased their price target on shares of Sunrise Realty Trust from $12.75 to $12.25 and set an “outperform” rating for the company in a research note on Monday, March 10th. Finally, Raymond James reduced 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 report on Monday, March 10th.

Institutional Investors Weigh In On Sunrise Realty Trust

Several hedge funds have recently bought and sold shares of SUNS. State Street Corp bought a new stake in Sunrise Realty Trust in the third quarter valued at approximately $1,788,000. Geode Capital Management LLC bought a new stake in Sunrise Realty Trust in the 3rd quarter valued at $1,785,000. Barclays PLC acquired a new stake in 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 position in shares of Sunrise Realty Trust in the third quarter valued at $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.