Insider Buying: Sunrise Realty Trust (NASDAQ:SUNS) Chairman Buys 17,790 Shares of Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum purchased 17,790 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was bought at an average cost of $9.45 per share, with a total value of $168,115.50. Following the completion of the purchase, the chairman owned 2,973,226 shares of the company’s stock, valued at $28,096,985.70. This represents a 0.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Sunrise Realty Trust Trading Down 2.4%

Sunrise Realty Trust stock traded down $0.23 during trading hours on Thursday, hitting $9.36. 95,126 shares of the stock traded hands, compared to its average volume of 55,653. Sunrise Realty Trust, Inc. has a one year low of $7.80 and a one year high of $15.70. The company has a market cap of $125.61 million, a PE ratio of 8.59, a PEG ratio of 0.75 and a beta of 0.93. The firm’s 50-day moving average price is $10.03 and its two-hundred day moving average price is $10.48.

Sunrise Realty Trust (NASDAQ:SUNS) last released its earnings results on Tuesday, April 22nd. The company reported $0.30 EPS for the quarter. Sunrise Realty Trust had a return on equity of 7.76% and a net margin of 62.48%. Sunrise Realty Trust has set its Q1 2025 guidance at 0.300-0.320 EPS. On average, sell-side analysts expect that Sunrise Realty Trust, Inc. will post 0.58 earnings per share for the current fiscal year.

Sunrise Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.8%. The ex-dividend date was Tuesday, September 30th. Sunrise Realty Trust’s payout ratio is 110.09%.

Institutional Investors Weigh In On Sunrise Realty Trust

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. bought a new position in shares of Sunrise Realty Trust in the 1st quarter worth approximately $25,000. Nisa Investment Advisors LLC grew its position in Sunrise Realty Trust by 61.6% during the second quarter. Nisa Investment Advisors LLC now owns 3,014 shares of the company’s stock valued at $33,000 after buying an additional 1,149 shares during the period. Corebridge Financial Inc. raised its position in Sunrise Realty Trust by 82.4% in the first quarter. Corebridge Financial Inc. now owns 5,117 shares of the company’s stock worth $57,000 after acquiring an additional 2,312 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sunrise Realty Trust by 90.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company’s stock worth $67,000 after acquiring an additional 2,880 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Sunrise Realty Trust by 60.4% during the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock worth $73,000 after acquiring an additional 1,952 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SUNS shares. Keefe, Bruyette & Woods decreased their price target on shares of Sunrise Realty Trust from $11.25 to $11.00 and set an “outperform” rating for the company in a research note on Wednesday. Weiss Ratings restated a “sell (d)” rating on shares of Sunrise Realty Trust in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.13.

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.