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

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum purchased 80,514 shares of Sunrise Realty Trust 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 transaction, the chairman now directly owns 2,623,803 shares in the company, valued at $29,544,021.78. This represents a 3.17 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Sunrise Realty Trust Trading Up 0.2 %

Shares of SUNS 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 stock has a fifty day moving average of $11.95 and a 200-day moving average of $13.53.

Sunrise Realty Trust (NASDAQ:SUNS) last announced 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 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. 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 10.55%. The ex-dividend date of this dividend is Monday, March 31st.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. B. Riley initiated coverage on Sunrise Realty Trust in a report on Thursday, February 13th. They issued a “buy” rating and a $15.00 target price on the stock. Keefe, Bruyette & Woods lowered their target price on 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 price target on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating on the stock in a research note on Monday, March 10th.

Hedge Funds Weigh In On Sunrise Realty Trust

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased 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 valued at $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 fourth quarter valued at about $2,709,000. Tower Research Capital LLC TRC raised its position in shares of 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. Marshall Wace LLP acquired a new position in shares of Sunrise Realty Trust in the fourth quarter worth approximately $475,000. Finally, Barclays PLC boosted its holdings in Sunrise Realty Trust by 14.8% in the fourth quarter. Barclays PLC now owns 8,484 shares of the company’s stock valued at $120,000 after acquiring an additional 1,092 shares during the last quarter.

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.