Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Buys 80,514 Shares

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 80,514 shares of the 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 completion of the acquisition, the chairman now owns 2,623,803 shares of the company’s stock, valued at $29,544,021.78. The trade was a 3.17 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Sunrise Realty Trust Stock Up 0.2 %

Shares of SUNS stock opened at $11.37 on Friday. Sunrise Realty Trust, Inc. has a 52 week low of $8.11 and a 52 week high of $15.74. The company has a 50-day simple moving average of $11.95 and a 200 day simple moving average of $13.53.

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

Sunrise Realty Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 10.55%. The ex-dividend date is Monday, March 31st.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SUNS. Raymond James decreased their price objective on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating for the company in a research 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 on the stock in a research report on Monday, March 10th. Finally, B. Riley assumed coverage on Sunrise Realty Trust in a research report on Thursday, February 13th. They issued a “buy” rating and a $15.00 price objective for the company.

Institutional Investors Weigh In On Sunrise Realty Trust

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. bought a new position in Sunrise Realty Trust during the third quarter worth about $231,000. Wasatch Advisors LP bought a new stake in shares of Sunrise Realty Trust in the third quarter valued at approximately $8,875,000. State Street Corp acquired a new stake in Sunrise Realty Trust during the third quarter worth approximately $1,788,000. Barclays PLC acquired a new stake in Sunrise Realty Trust during the third quarter worth approximately $106,000. Finally, Geode Capital Management LLC bought a new position in Sunrise Realty Trust during the 3rd quarter worth $1,785,000.

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.