Leonard Tannenbaum Purchases 25,000 Shares of Sunrise Realty Trust (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum bought 25,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average price of $7.79 per share, with a total value of $194,750.00. Following the completion of the acquisition, the chairman owned 3,072,719 shares of the company’s stock, valued at $23,936,481.01. This trade represents a 0.82% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sunrise Realty Trust Stock Up 0.3%

NASDAQ:SUNS opened at $7.51 on Thursday. The company has a market cap of $101.54 million, a P/E ratio of 7.74, a P/E/G ratio of 0.57 and a beta of 1.02. Sunrise Realty Trust, Inc. has a fifty-two week low of $7.34 and a fifty-two week high of $11.78. The firm’s 50 day moving average is $8.17 and its two-hundred day moving average is $8.37.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $7.17 million. Research 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.0%. The ex-dividend date was Tuesday, June 30th. Sunrise Realty Trust’s dividend payout ratio (DPR) is 123.71%.

Institutional Investors Weigh In On Sunrise Realty Trust

Several institutional investors and hedge funds have recently modified their holdings of SUNS. GatePass Capital LLC purchased a new stake in shares of Sunrise Realty Trust during the 1st quarter valued at about $588,000. Royal Bank of Canada lifted its position in Sunrise Realty Trust by 12.5% during the 4th quarter. Royal Bank of Canada now owns 13,782 shares of the company’s stock worth $130,000 after acquiring an additional 1,535 shares in the last quarter. Barclays PLC boosted its holdings in Sunrise Realty Trust by 7.3% in the 4th quarter. Barclays PLC now owns 22,183 shares of the company’s stock worth $209,000 after acquiring an additional 1,518 shares during the period. Wells Fargo & Company MN boosted its holdings in 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 acquiring an additional 3,602 shares during the period. Finally, Alliancebernstein L.P. grew its position in Sunrise Realty Trust by 16.3% in the third quarter. Alliancebernstein L.P. now owns 15,672 shares of the company’s stock valued at $163,000 after acquiring an additional 2,200 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their target price on Sunrise Realty Trust from $7.75 to $8.00 and gave the stock a “market perform” rating in a report on Monday, May 18th. Wall Street Zen upgraded shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. 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 shares of 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, the company has an average rating of “Reduce” and an average target price of $8.00.

Sunrise Realty Trust Company Profile

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.