Sunrise Realty Trust, Inc. Declares Quarterly Dividend of $0.30 (NASDAQ:SUNS)

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) announced a quarterly dividend on Tuesday, March 4th, Wall Street Journal reports. Investors of record on Monday, March 31st will be given a dividend of 0.30 per share on Tuesday, April 15th. This represents a $1.20 annualized dividend and a yield of 10.70%. The ex-dividend date of this dividend is Monday, March 31st.

Sunrise Realty Trust Stock Performance

Sunrise Realty Trust stock opened at $11.21 on Friday. Sunrise Realty Trust has a one year low of $8.11 and a one year high of $15.74. The stock’s fifty day moving average price is $11.66 and its two-hundred day moving average price is $13.42.

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, meeting analysts’ consensus estimates of $0.30. The business had revenue of $3.45 million during the quarter, compared to the consensus estimate of $3.25 million. As a group, equities research analysts forecast that Sunrise Realty Trust will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Leonard M. Tannenbaum bought 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average cost of $12.00 per share, with a total value of $12,000,000.00. Following the completion of the purchase, the chairman now owns 2,434,213 shares of the company’s stock, valued at approximately $29,210,556. The trade was a 69.72 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have purchased 1,181,473 shares of company stock worth $14,026,626. 5.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sunrise Realty Trust stock. Bank of America Corp DE raised its holdings in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) by 60.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,183 shares of the company’s stock after purchasing an additional 1,952 shares during the period. Bank of America Corp DE owned 0.07% of Sunrise Realty Trust worth $73,000 at the end of the most recent reporting period.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. B. Riley began coverage on Sunrise Realty Trust in a research note on Thursday, February 13th. They set a “buy” rating and a $15.00 target price on the stock. Raymond James lowered 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 research report on Monday, March 10th. Finally, Keefe, Bruyette & Woods cut 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 research note on Monday, March 10th.

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.