Sunrise Realty Trust (NASDAQ:SUNS) Chairman Leonard Tannenbaum Acquires 20,000 Shares of Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $7.60 per share, with a total value of $152,000.00. Following the transaction, the chairman directly owned 3,092,719 shares of the company’s stock, valued at approximately $23,504,664.40. This represents a 0.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Sunrise Realty Trust Trading Down 0.1%

NASDAQ:SUNS opened at $7.50 on Friday. The firm has a market capitalization of $101.40 million, a price-to-earnings ratio of 7.73, a PEG ratio of 0.57 and a beta of 1.02. The firm’s fifty day simple moving average is $8.14 and its 200 day simple moving average is $8.36. Sunrise Realty Trust, Inc. has a twelve month low of $7.34 and a twelve month high of $11.78.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Sunrise Realty Trust had a net margin of 53.33% and a return on equity of 8.24%. The company had revenue of $8.56 million during the quarter, compared to analyst estimates of $7.17 million. On average, analysts predict that Sunrise Realty Trust, Inc. will post 1.2 earnings per share for the current year.

Sunrise Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.0%. Sunrise Realty Trust’s dividend payout ratio (DPR) is currently 123.71%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the stock a “market perform” rating in a report on Monday, May 18th. Zacks Research raised shares of Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings downgraded Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $8.00.

Institutional Investors Weigh In On Sunrise Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake in shares of Sunrise Realty Trust by 60.4% in 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 in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Sunrise Realty Trust in the first quarter valued at about $139,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Sunrise Realty Trust by 90.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company’s stock valued at $67,000 after buying an additional 2,880 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Sunrise Realty Trust by 53.5% during the first quarter. Goldman Sachs Group Inc. now owns 27,911 shares of the company’s stock valued at $309,000 after buying an additional 9,732 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Sunrise Realty Trust by 22.5% during the 1st quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock worth $108,000 after buying an additional 1,794 shares during the last quarter.

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.