Sunrise Realty Trust, Inc. (NASDAQ:SUNS) to Issue Quarterly Dividend of $0.30

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

Sunrise Realty Trust Trading Up 0.3%

Sunrise Realty Trust stock opened at $7.45 on Wednesday. Sunrise Realty Trust has a 12-month low of $7.19 and a 12-month high of $11.78. The firm has a market capitalization of $100.72 million, a price-to-earnings ratio of 7.68, a P/E/G ratio of 0.57 and a beta of 1.00. The firm has a 50 day moving average of $7.76 and a 200 day moving average of $8.07.

Sunrise Realty Trust (NASDAQ:SUNS) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $8.56 million for the quarter, compared to analysts’ expectations of $7.17 million. Sunrise Realty Trust had a net margin of 53.33% and a return on equity of 8.25%. On average, analysts predict that Sunrise Realty Trust will post 1.19 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Leonard Tannenbaum acquired 50,000 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $7.50 per share, with a total value of $375,000.00. Following the acquisition, the chairman directly owned 3,142,719 shares in the company, valued at $23,570,392.50. This represents a 1.62% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders purchased 118,822 shares of company stock valued at $905,787. Corporate insiders own 28.50% of the company’s stock.

Hedge Funds Weigh In On Sunrise Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna International Group LLP bought a new stake in Sunrise Realty Trust in the 2nd quarter valued at $233,000. Hsbc Holdings PLC bought a new position in shares of Sunrise Realty Trust during the 2nd quarter valued at about $133,000. BlackRock Inc. bought a new position in shares of Sunrise Realty Trust during the 2nd quarter valued at about $1,038,000. Quantinno Capital Management LP grew its position in shares of Sunrise Realty Trust by 22.9% during the first quarter. Quantinno Capital Management LP now owns 50,951 shares of the company’s stock valued at $391,000 after purchasing an additional 9,510 shares in the last quarter. Finally, GatePass Capital LLC purchased a new position in shares of Sunrise Realty Trust during the first quarter valued at about $588,000.

About Sunrise Realty Trust

Sunrise Realty Trust, Inc is a real estate investment trust focused on commercial real estate debt investments. The company primarily originates, acquires and manages mortgage loans secured by commercial properties, seeking to generate income from interest payments and related investment activities.

Its portfolio is centered on senior-secured commercial real estate loans, including financing for properties such as multifamily, industrial, office, retail and other income-producing real estate.