Sunrise Realty Trust (NASDAQ:SUNS) Chairman Purchases $375,000.00 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum purchased 50,000 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $7.50 per share, for a total transaction of $375,000.00. Following the completion of the transaction, the chairman directly owned 3,142,719 shares of the company’s stock, valued at approximately $23,570,392.50. This represents a 1.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Sunrise Realty Trust Price Performance

Shares of SUNS stock opened at $7.69 on Thursday. The stock has a market cap of $103.97 million, a P/E ratio of 7.93, a P/E/G ratio of 0.61 and a beta of 1.02. The company has a fifty day moving average price of $8.09 and a two-hundred day moving average price of $8.32. Sunrise Realty Trust, Inc. has a one year low of $7.34 and a one year high of $11.78.

Sunrise Realty Trust (NASDAQ:SUNS) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Sunrise Realty Trust had a return on equity of 8.25% and a net margin of 53.33%.The firm had revenue of $8.56 million for the quarter, compared to analyst estimates of $7.17 million. As a group, equities research analysts anticipate that Sunrise Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Sunrise Realty Trust Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 15.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Sunrise Realty Trust’s dividend payout ratio (DPR) is presently 123.71%.

Institutional Trading of Sunrise Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. GatePass Capital LLC acquired a new position in shares of Sunrise Realty Trust during the 1st quarter worth approximately $588,000. Osaic Holdings Inc. boosted its stake in shares of Sunrise Realty Trust by 7.1% in the fourth quarter. Osaic Holdings Inc. now owns 16,947 shares of the company’s stock valued at $160,000 after buying an additional 1,127 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Sunrise Realty Trust in the first quarter valued at approximately $139,000. Curi Capital LLC acquired a new stake in Sunrise Realty Trust during the second quarter worth approximately $138,000. Finally, Royal Bank of Canada increased its stake in Sunrise Realty Trust by 12.5% during the 4th quarter. Royal Bank of Canada now owns 13,782 shares of the company’s stock worth $130,000 after acquiring an additional 1,535 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SUNS shares. Zacks Research upgraded Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings cut shares of Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 16th. Keefe, Bruyette & Woods upped their price objective on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the company a “market perform” rating in a report on Monday, May 18th. Finally, Wall Street Zen upgraded shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $8.00.

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.