Sunrise Realty Trust (NASDAQ:SUNS) Chairman Leonard Tannenbaum Buys 20,200 Shares of Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum bought 20,200 shares of the stock in a transaction on Friday, August 22nd. The shares were acquired at an average cost of $11.00 per share, for a total transaction of $222,200.00. Following the acquisition, the chairman directly owned 2,913,226 shares in the company, valued at approximately $32,045,486. This trade represents a 0.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sunrise Realty Trust Price Performance

Sunrise Realty Trust stock opened at $10.94 on Wednesday. Sunrise Realty Trust, Inc. has a one year low of $7.80 and a one year high of $15.74. The business has a fifty day moving average price of $10.65 and a 200-day moving average price of $10.68. The firm has a market capitalization of $146.81 million and a P/E ratio of 10.52.

Sunrise Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.30 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.20 annualized dividend and a yield of 11.0%. Sunrise Realty Trust’s dividend payout ratio (DPR) is currently 115.38%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods decreased their price target on Sunrise Realty Trust from $11.50 to $11.25 and set an “outperform” rating on the stock in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat, Sunrise Realty Trust currently has a consensus rating of “Buy” and an average price target of $13.19.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Philadelphia Financial Management of San Francisco LLC bought a new stake in Sunrise Realty Trust during the first quarter valued at approximately $6,629,000. Raymond James Financial Inc. purchased a new stake in shares of Sunrise Realty Trust during the 1st quarter valued at $3,337,000. Pacific Ridge Capital Partners LLC bought a new stake in shares of Sunrise Realty Trust during the 1st quarter worth $2,142,000. Castalian Partners LLC bought a new stake in shares of Sunrise Realty Trust during the 4th quarter worth $2,709,000. Finally, Acadian Asset Management LLC purchased a new position in Sunrise Realty Trust in the first quarter worth $1,450,000.

Sunrise Realty Trust Company Profile

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.