Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Sees Significant Growth in Short Interest

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) was the recipient of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 832,661 shares, an increase of 58.5% from the February 26th total of 525,381 shares. Currently, 6.2% of the shares of the stock are sold short. Based on an average daily volume of 101,517 shares, the days-to-cover ratio is currently 8.2 days.

Sunrise Realty Trust Stock Performance

Shares of SUNS opened at $7.99 on Friday. Sunrise Realty Trust has a fifty-two week low of $7.80 and a fifty-two week high of $11.78. The firm has a market cap of $108.02 million, a price-to-earnings ratio of 8.50, a PEG ratio of 0.60 and a beta of 0.90. The firm has a 50 day moving average price of $9.09 and a 200-day moving average price of $9.65.

Sunrise Realty Trust (NASDAQ:SUNS) last released its earnings results on Thursday, March 12th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.04). The business had revenue of $7.17 million for the quarter, compared to the consensus estimate of $7.13 million. Sunrise Realty Trust had a net margin of 56.29% and a return on equity of 7.70%. As a group, equities research analysts predict that Sunrise Realty Trust will post 0.58 earnings per share for the current year.

Sunrise Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 15.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Sunrise Realty Trust’s dividend payout ratio (DPR) is 127.66%.

Analyst Ratings Changes

Several equities analysts recently commented on SUNS shares. Weiss Ratings restated a “sell (d)” rating on shares of Sunrise Realty Trust in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods dropped their price target on Sunrise Realty Trust from $9.50 to $8.75 and set a “market perform” rating for the company in a research report on Wednesday, March 18th. Zacks Research lowered Sunrise Realty Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 24th. Finally, Wall Street Zen cut shares of Sunrise Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $10.38.

Insider Buying and Selling at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were bought at an average price of $9.40 per share, for a total transaction of $940,000.00. Following the completion of the transaction, the chairman owned 585,681 shares of the company’s stock, valued at approximately $5,505,401.40. This represents a 20.59% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 24.80% of the company’s stock.

Institutional Investors Weigh In On Sunrise Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Sunrise Realty Trust by 60.4% during the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock valued at $73,000 after acquiring an additional 1,952 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Sunrise Realty Trust in the 1st quarter worth approximately $139,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 purchasing an additional 2,880 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Sunrise Realty Trust by 53.5% in the first quarter. Goldman Sachs Group Inc. now owns 27,911 shares of the company’s stock valued at $309,000 after purchasing an additional 9,732 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Sunrise Realty Trust by 22.5% during the first quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock valued at $108,000 after purchasing an additional 1,794 shares during the period.

About Sunrise Realty Trust

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.