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

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) declared a quarterly dividend on Tuesday, September 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of 0.30 per share on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 16.1%. The ex-dividend date of this dividend is Wednesday, September 30th.

Sunrise Realty Trust Stock Performance

Shares of SUNS stock traded up $0.02 during mid-day trading on Tuesday, reaching $7.45. 77,317 shares of the company’s stock traded hands, compared to its average volume of 96,175. Sunrise Realty Trust has a 12 month low of $7.19 and a 12 month high of $11.78. The firm has a 50 day moving average price of $7.76 and a two-hundred day moving average price of $8.09. The firm has a market capitalization of $100.69 million, a PE ratio of 7.68, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its earnings results on Thursday, August 6th. The company reported $0.29 EPS 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 the consensus estimate of $7.17 million. Sunrise Realty Trust had a return on equity of 8.25% and a net margin of 53.33%. As a group, equities analysts expect that Sunrise Realty Trust will post 1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on SUNS shares. Zacks Research upgraded Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their price objective on Sunrise Realty Trust from $7.75 to $8.00 and gave the company a “market perform” rating in a research report on Monday, May 18th. 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 analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus 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.