Sunrise Realty Trust (NASDAQ:SUNS) Chairman Buys $375,000.00 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum bought 50,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of $7.50 per share, with a total value of $375,000.00. Following the completion of the acquisition, the chairman directly owned 3,142,719 shares in the company, valued at $23,570,392.50. This trade represents a 1.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Sunrise Realty Trust Stock Up 0.1%

NASDAQ:SUNS traded up $0.01 on Monday, reaching $7.76. 84,185 shares of the company’s stock were exchanged, compared to its average volume of 101,216. The firm has a market capitalization of $104.92 million, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 0.59 and a beta of 1.02. The business has a fifty day moving average of $8.13 and a 200-day moving average of $8.35. Sunrise Realty Trust, Inc. has a 52-week low of $7.34 and a 52-week high of $11.78.

Sunrise Realty Trust (NASDAQ:SUNS) last issued 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 8.25% and a net margin of 53.33%.The business had revenue of $8.56 million for the quarter, compared to analyst estimates of $7.17 million. As a group, equities analysts anticipate that Sunrise Realty Trust, Inc. will post 1.2 earnings per share for the current year.

Sunrise Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued 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 yield of 15.5%. Sunrise Realty Trust’s dividend payout ratio is 123.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SUNS shares. 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. 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 research note on Monday, May 18th. Zacks Research raised Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen upgraded Sunrise Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $8.00.

Institutional Trading of Sunrise Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Sunrise Realty Trust during the second quarter worth approximately $1,038,000. Vanguard Group Inc. increased its stake 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 purchasing an additional 94,628 shares during the last quarter. GatePass Capital LLC purchased a new position in Sunrise Realty Trust in the first quarter valued at approximately $588,000. Corsair Capital Management L.P. raised its holdings 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 worth $478,000 after purchasing an additional 40,704 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings 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 worth $2,383,000 after purchasing an additional 19,565 shares in 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.