Sunrise Realty Trust, Inc. (NASDAQ:SUNS) to Issue Quarterly Dividend of $0.30

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) announced a quarterly dividend on Tuesday, March 4th, Wall Street Journal reports. Investors of record on Monday, March 31st will be given a dividend of 0.30 per share on Tuesday, April 15th. This represents a $1.20 annualized dividend and a yield of 10.70%. The ex-dividend date is Monday, March 31st.

Sunrise Realty Trust Stock Down 0.7 %

NASDAQ SUNS opened at $11.21 on Friday. Sunrise Realty Trust has a 1-year low of $8.11 and a 1-year high of $15.74. The business has a 50 day moving average price of $11.66 and a 200 day moving average price of $13.42.

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

Insider Buying and Selling at Sunrise Realty Trust

In related news, Chairman Leonard M. Tannenbaum bought 1,000,000 shares of Sunrise Realty Trust stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average price of $12.00 per share, for a total transaction of $12,000,000.00. Following the completion of the purchase, the chairman now owns 2,434,213 shares in the company, valued at approximately $29,210,556. This represents a 69.72 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased a total of 1,181,473 shares of company stock worth $14,026,626 over the last three months. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Sunrise Realty Trust

An institutional investor recently raised its position in Sunrise Realty Trust stock. Bank of America Corp DE raised its position in Sunrise Realty Trust, Inc. (NASDAQ:SUNS) by 60.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,183 shares of the company’s stock after purchasing an additional 1,952 shares during the period. Bank of America Corp DE owned approximately 0.07% of Sunrise Realty Trust worth $73,000 as of its most recent filing with the SEC.

Analysts Set New Price Targets

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

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.