Leonard Tannenbaum Buys 23,109 Shares of Sunrise Realty Trust (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum bought 23,109 shares of Sunrise Realty Trust stock in a transaction dated Friday, August 7th. The shares were purchased at an average cost of $7.73 per share, for a total transaction of $178,632.57. Following the completion of the transaction, the chairman owned 3,047,719 shares of the company’s stock, valued at approximately $23,558,867.87. This represents a 0.76% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Sunrise Realty Trust Trading Up 0.3%

SUNS opened at $7.51 on Thursday. The company has a fifty day simple moving average of $8.17 and a 200 day simple moving average of $8.37. The firm has a market cap of $101.54 million, a price-to-earnings ratio of 7.74, a PEG ratio of 0.57 and a beta of 1.02. 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 released 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 return on equity of 8.24% and a net margin of 53.33%.The firm had revenue of $8.56 million for the quarter, compared to analysts’ expectations of $7.17 million. On average, analysts forecast that Sunrise Realty Trust, Inc. will post 1.2 earnings per share for the current fiscal year.

Sunrise Realty Trust Dividend Announcement

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

Institutional Investors Weigh In On Sunrise Realty Trust

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Sunrise Realty Trust during the second quarter worth about $1,038,000. Vanguard Group Inc. increased its holdings in Sunrise Realty Trust by 19.2% in the third quarter. Vanguard Group Inc. now owns 588,554 shares of the company’s stock valued at $6,115,000 after buying an additional 94,628 shares during the last quarter. GatePass Capital LLC bought a new stake in Sunrise Realty Trust in the first quarter valued at about $588,000. Corsair Capital Management L.P. raised its stake in Sunrise Realty Trust by 407.0% during the fourth quarter. Corsair Capital Management L.P. now owns 50,704 shares of the company’s stock valued at $478,000 after buying an additional 40,704 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Sunrise Realty Trust by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 252,711 shares of the company’s stock valued at $2,383,000 after buying an additional 19,565 shares in the last quarter.

Wall Street Analysts Forecast Growth

SUNS has been the subject of a number of analyst reports. Keefe, Bruyette & Woods increased their price target on Sunrise Realty Trust from $7.75 to $8.00 and gave the company a “market perform” rating in a report on Monday, May 18th. Zacks Research upgraded Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Wall Street Zen raised Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings cut Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, July 16th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Sunrise Realty Trust currently has an average rating of “Reduce” and an average target price of $8.00.

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.