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

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum purchased 25,000 shares of Sunrise Realty Trust stock in a transaction on Monday, August 10th. The stock was bought at an average cost of $7.79 per share, with a total value of $194,750.00. Following the transaction, the chairman directly owned 3,072,719 shares of the company’s stock, valued at approximately $23,936,481.01. The trade was a 0.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Sunrise Realty Trust Stock Down 3.1%

Shares of Sunrise Realty Trust stock opened at $7.49 on Wednesday. The stock has a 50 day moving average price of $8.19 and a two-hundred day moving average price of $8.39. Sunrise Realty Trust, Inc. has a 12-month low of $7.34 and a 12-month high of $11.78. The stock has a market capitalization of $101.26 million, a P/E ratio of 7.72, a PEG ratio of 0.59 and a beta of 1.02.

Sunrise Realty Trust (NASDAQ:SUNS) last posted 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 return on equity of 8.24% and a net margin of 53.33%.The firm had revenue of $8.56 million for the quarter, compared to the consensus estimate of $7.17 million. Sell-side 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 disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 16.0%. The ex-dividend date of this dividend was Tuesday, June 30th. Sunrise Realty Trust’s dividend payout ratio is currently 123.71%.

Wall Street Analyst Weigh In

SUNS has been the subject of a number of research reports. Weiss Ratings downgraded Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 16th. Wall Street Zen raised shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research upgraded Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the stock a “market perform” rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $8.00.

Hedge Funds Weigh In On Sunrise Realty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of SUNS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 valued at $67,000 after buying an additional 2,880 shares during the last quarter. Bank of America Corp DE boosted its holdings in Sunrise Realty Trust by 60.4% in the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock valued at $73,000 after purchasing an additional 1,952 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Sunrise Realty Trust in the first quarter valued at approximately $87,000. Wells Fargo & Company MN grew its holdings in shares of Sunrise Realty Trust by 46.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,394 shares of the company’s stock worth $107,000 after purchasing an additional 3,602 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Sunrise Realty Trust by 22.5% during the first quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock worth $108,000 after buying an additional 1,794 shares in the last quarter.

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.