Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Short Interest Update

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 832,661 shares, an increase of 58.5% from the February 26th total of 525,381 shares. Based on an average daily trading volume, of 101,517 shares, the short-interest ratio is currently 8.2 days. Approximately 6.2% of the company’s stock are sold short.

Sunrise Realty Trust Stock Down 2.8%

Shares of NASDAQ SUNS opened at $8.07 on Friday. The firm’s 50-day moving average price is $9.11 and its 200-day moving average price is $9.68. Sunrise Realty Trust has a 52-week low of $7.80 and a 52-week high of $11.78. The company has a market cap of $109.11 million, a PE ratio of 8.59, a PEG ratio of 0.62 and a beta of 0.90.

Sunrise Realty Trust (NASDAQ:SUNS) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.04). Sunrise Realty Trust had a net margin of 56.29% and a return on equity of 7.70%. The company had revenue of $7.17 million for the quarter, compared to the consensus estimate of $7.13 million. As a group, equities research analysts anticipate that Sunrise Realty Trust will post 0.58 EPS for the current fiscal year.

Sunrise Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 14.9%. The ex-dividend date of this dividend is Tuesday, March 31st. Sunrise Realty Trust’s dividend payout ratio is presently 127.66%.

Insider Buying and Selling

In related news, Chairman Leonard M. Tannenbaum bought 100,000 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were acquired at an average cost of $9.40 per share, with a total value of $940,000.00. Following the completion of the acquisition, the chairman owned 585,681 shares of the company’s stock, valued at $5,505,401.40. The trade was a 20.59% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 24.80% of the company’s stock.

Institutional Trading of Sunrise Realty Trust

Several large investors have recently modified their holdings of SUNS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Sunrise Realty Trust by 90.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company’s stock valued at $67,000 after acquiring an additional 2,880 shares during the period. Bank of America Corp DE grew its stake in shares of Sunrise Realty Trust by 60.4% during the 4th 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. GatePass Capital LLC purchased a new stake in shares of Sunrise Realty Trust during the 2nd quarter valued at about $106,000. Corsair Capital Management L.P. bought a new position in shares of Sunrise Realty Trust in the 2nd quarter worth approximately $106,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Sunrise Realty Trust by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 11,394 shares of the company’s stock worth $107,000 after purchasing an additional 3,602 shares during the period.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sunrise Realty Trust in a research report on Thursday, January 22nd. Zacks Research lowered shares of Sunrise Realty Trust from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Wall Street Zen cut shares of Sunrise Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Sunrise Realty Trust from $9.50 to $8.75 and set a “market perform” rating on the stock in a research note on Wednesday, March 18th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $10.38.

About Sunrise Realty Trust

Sunrise Realty Trust is a real estate investment trust (REIT) that focuses on acquiring, owning and leasing convenience store and fuel retail properties under long-term net leases. The company targets sale-leaseback transactions and joint-venture investments with high-credit tenants in the convenience retail sector. Sunrise Realty Trust’s portfolio comprises single-tenant properties that benefit from predictable cash flows, structured lease agreements and tenant-driven site improvements, providing exposure to a segment of the retail real estate market that aligns closely with consumer essentials.

The company’s primary business activities include sourcing and underwriting new property investments, negotiating sale-leaseback and ground lease transactions, and managing asset performance throughout the lease term.