Sunrise Realty Trust (NASDAQ:SUNS) Chairman Buys $194,750.00 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum acquired 25,000 shares of the stock in a transaction dated Monday, August 10th. The shares were bought at an average cost of $7.79 per share, with a total value of $194,750.00. Following the transaction, the chairman directly owned 3,072,719 shares of the company’s stock, valued at $23,936,481.01. This represents a 0.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Sunrise Realty Trust Stock Down 0.1%

Shares of NASDAQ:SUNS opened at $7.50 on Friday. The firm has a market cap of $101.40 million, a price-to-earnings ratio of 7.73, a PEG ratio of 0.57 and a beta of 1.02. Sunrise Realty Trust, Inc. has a 12 month low of $7.34 and a 12 month high of $11.78. The company’s fifty day simple moving average is $8.14 and its 200 day simple moving average is $8.36.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The company had revenue of $8.56 million during the quarter, compared to analyst estimates of $7.17 million. Sunrise Realty Trust had a return on equity of 8.24% and a net margin of 53.33%. Research analysts expect that Sunrise Realty Trust, Inc. will post 1.2 earnings per share for the current fiscal 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 given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 16.0%. The ex-dividend date of this dividend was Tuesday, June 30th. Sunrise Realty Trust’s dividend payout ratio is currently 123.71%.

Institutional Trading of Sunrise Realty Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in Sunrise Realty Trust by 60.4% during the fourth quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock worth $73,000 after acquiring an additional 1,952 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Sunrise Realty Trust in the first quarter valued at approximately $139,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 purchasing an additional 2,880 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Sunrise Realty Trust by 53.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 27,911 shares of the company’s stock worth $309,000 after purchasing an additional 9,732 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of 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 purchasing an additional 1,794 shares during the last quarter.

Wall Street Analyst Weigh In

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