Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Purchases $551,500.00 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum acquired 50,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average price of $11.03 per share, with a total value of $551,500.00. Following the completion of the transaction, the chairman now owns 2,543,289 shares in the company, valued at $28,052,477.67. This represents a 2.01 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Sunrise Realty Trust Price Performance

Shares of SUNS stock opened at $11.35 on Thursday. Sunrise Realty Trust, Inc. has a 1-year low of $8.11 and a 1-year high of $15.74. The stock has a 50-day moving average of $12.03 and a 200-day moving average of $13.56.

Sunrise Realty Trust (NASDAQ:SUNS) last released its earnings results on Thursday, March 6th. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $3.45 million for the quarter, compared to analyst estimates of $3.25 million. Research analysts expect that Sunrise Realty Trust, Inc. will post 0.58 earnings per share for the current year.

Sunrise Realty Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 10.57%. The ex-dividend date of this dividend is Monday, March 31st.

Institutional Trading of Sunrise Realty Trust

Large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its stake in Sunrise Realty Trust by 60.4% during the fourth 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 in the last quarter. Castalian Partners LLC acquired a new position in shares of Sunrise Realty Trust during the fourth quarter valued at about $2,709,000. Tower Research Capital LLC TRC boosted its position in shares of Sunrise Realty Trust by 353.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock worth $41,000 after purchasing an additional 2,279 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Sunrise Realty Trust in the 4th quarter valued at about $475,000. Finally, Barclays PLC increased its position in Sunrise Realty Trust by 14.8% in the 4th quarter. Barclays PLC now owns 8,484 shares of the company’s stock valued at $120,000 after buying an additional 1,092 shares in the last quarter.

Wall Street Analysts Forecast Growth

SUNS has been the topic of a number of research reports. B. Riley started coverage on shares of Sunrise Realty Trust in a research note on Thursday, February 13th. They set a “buy” rating and a $15.00 target price on the stock. Raymond James lowered their target price on Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating for the company in a report on Monday, March 10th. Finally, Keefe, Bruyette & Woods cut their price target on Sunrise Realty Trust from $12.75 to $12.25 and set an “outperform” rating on the stock in a research note on Monday, March 10th.

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.