Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Acquires 10,000 Shares

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 10,000 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $10.48 per share, for a total transaction of $104,800.00. Following the completion of the transaction, the chairman now owns 2,785,216 shares of the company’s stock, valued at $29,189,063.68. This represents a 0.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Sunrise Realty Trust Price Performance

Shares of NASDAQ SUNS opened at $10.61 on Monday. The company has a 50-day simple moving average of $10.29 and a 200-day simple moving average of $12.34. The company has a market cap of $142.40 million and a PE ratio of 10.50. Sunrise Realty Trust, Inc. has a 12 month low of $7.80 and a 12 month high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last released its earnings results on Thursday, March 6th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $3.45 million during the quarter, compared to analysts’ expectations of $3.25 million. On average, analysts anticipate that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current year.

Sunrise Realty Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.20 annualized dividend and a yield of 11.31%. Sunrise Realty Trust’s payout ratio is currently 118.81%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pacific Ridge Capital Partners LLC purchased a new stake in Sunrise Realty Trust in the first quarter valued at approximately $2,142,000. Castalian Partners LLC purchased a new stake in shares of Sunrise Realty Trust during the 4th quarter valued at $2,709,000. Geode Capital Management LLC purchased a new stake in shares of Sunrise Realty Trust during the 3rd quarter valued at $1,785,000. Renaissance Technologies LLC acquired a new stake in shares of Sunrise Realty Trust during the 4th quarter worth $594,000. Finally, Marshall Wace LLP purchased a new position in shares of Sunrise Realty Trust in the 4th quarter worth $475,000.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SUNS shares. Raymond James dropped their target price on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating for the company in a report on Monday, March 10th. Oppenheimer initiated coverage on shares of Sunrise Realty Trust in a research note on Thursday, April 17th. They set an “outperform” rating and a $12.00 price objective for the company. Keefe, Bruyette & Woods cut their price objective on Sunrise Realty Trust from $12.25 to $10.75 and set an “outperform” rating for the company in a research report on Monday, April 7th. Finally, B. Riley assumed coverage on Sunrise Realty Trust in a research note on Thursday, February 13th. They issued a “buy” rating and a $15.00 target price on the stock. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Sunrise Realty Trust has a consensus rating of “Buy” and a consensus price target of $13.06.

About Sunrise Realty Trust

Sunrise Realty Trust, Inc engages in commercial real estate (CRE) lending business. It focuses on originating CRE debt investments and providing capital to borrowers and sponsors with transitional business plans collateralized by CRE assets. The company intends to create a diversified investment portfolio, targeting investments in senior mortgage loans, mezzanine loans, whole loans, B-notes, CMBS, and debt-like preferred equity securities across CRE asset classes.