Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Acquires $551,500.00 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum purchased 50,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were acquired at an average cost of $11.03 per share, with a total value of $551,500.00. Following the purchase, the chairman now directly owns 2,543,289 shares of the company’s stock, valued at approximately $28,052,477.67. The trade was a 2.01 % 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 Trading Down 0.4 %

Shares of NASDAQ:SUNS traded down $0.04 during trading on Monday, reaching $11.00. The stock had a trading volume of 138,355 shares, compared to its average volume of 94,703. Sunrise Realty Trust, Inc. has a 52 week low of $8.11 and a 52 week high of $15.74. The firm’s fifty day moving average is $12.14 and its 200 day moving average is $13.60.

Sunrise Realty Trust (NASDAQ:SUNS) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.30 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. Equities analysts expect that Sunrise Realty Trust, Inc. will post 0.58 earnings per share for the current year.

Sunrise Realty Trust Cuts Dividend

The firm also recently announced 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 is Monday, March 31st. This represents a $1.20 annualized dividend and a dividend yield of 10.91%.

Institutional Investors Weigh In On Sunrise Realty Trust

A number of hedge funds have recently added to or reduced their stakes in SUNS. Bank of America Corp DE grew its holdings in 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 purchasing an additional 1,952 shares during the period. Castalian Partners LLC acquired a new stake in shares of Sunrise Realty Trust in the 4th quarter valued at about $2,709,000. Tower Research Capital LLC TRC grew its stake in shares of Sunrise Realty Trust by 353.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock valued at $41,000 after buying an additional 2,279 shares during the period. Marshall Wace LLP bought a new stake in Sunrise Realty Trust in the 4th quarter valued at about $475,000. Finally, Barclays PLC raised its stake in Sunrise Realty Trust by 14.8% during the 4th quarter. Barclays PLC now owns 8,484 shares of the company’s stock worth $120,000 after buying an additional 1,092 shares during the period.

Analyst Ratings Changes

A number of analysts recently weighed in on SUNS shares. Raymond James decreased their price objective 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 reduced their price target on Sunrise Realty Trust from $12.75 to $12.25 and set an “outperform” rating on the stock in a research report on Monday, March 10th. Finally, B. Riley initiated coverage on Sunrise Realty Trust in a research report on Thursday, February 13th. They set a “buy” rating and a $15.00 price objective for the company.

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.