Key Points
- Chairman Leonard Tannenbaum purchased 17,790 shares on Nov. 18 at an average price of $9.45 (about $168,115), increasing his holding to 2,973,226 shares (a 0.60% rise) valued near $28.1 million.
- Sunrise pays a quarterly dividend of $0.30 (annualized $1.20), implying a 12.8% yield, though the payout ratio is elevated at roughly 110%, raising sustainability concerns.
- The stock trades around $9.39 with a market cap near $126 million and a P/E of 8.6, and analysts have a consensus "Moderate Buy" rating with an average price target of $13.13.
Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard Tannenbaum purchased 3,592 shares of Sunrise Realty Trust stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired at an average price of $9.48 per share, with a total value of $34,052.16. Following the acquisition, the chairman directly owned 2,976,818 shares of the company's stock, valued at $28,220,234.64. This trade represents a 0.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Sunrise Realty Trust Trading Up 1.5%
NASDAQ:SUNS traded up $0.15 on Friday, hitting $9.51. The company's stock had a trading volume of 32,051 shares, compared to its average volume of 98,028. Sunrise Realty Trust, Inc. has a one year low of $7.80 and a one year high of $15.70. The firm has a market capitalization of $127.56 million, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 0.75 and a beta of 0.93. The stock has a fifty day moving average of $10.03 and a two-hundred day moving average of $10.48.
Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $0.30 EPS for the quarter. Sunrise Realty Trust had a return on equity of 7.76% and a net margin of 62.48%. Sunrise Realty Trust has set its Q1 2025 guidance at 0.300-0.320 EPS. As a group, sell-side analysts anticipate that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current year.
Sunrise Realty Trust Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a $0.30 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $1.20 annualized dividend and a yield of 12.6%. Sunrise Realty Trust's payout ratio is 110.09%.
Hedge Funds Weigh In On Sunrise Realty Trust
A number of institutional investors have recently added to or reduced their stakes in SUNS. Acadian Asset Management LLC acquired a new position in Sunrise Realty Trust in the 1st quarter worth about $1,450,000. Raymond James Financial Inc. bought a new position in Sunrise Realty Trust in the 1st quarter valued at approximately $3,337,000. Corebridge Financial Inc. raised its holdings in Sunrise Realty Trust by 82.4% in the 1st quarter. Corebridge Financial Inc. now owns 5,117 shares of the company's stock valued at $57,000 after buying an additional 2,312 shares during the last quarter. MYDA Advisors LLC acquired a new stake in Sunrise Realty Trust during the 1st quarter worth approximately $775,000. Finally, Pacific Ridge Capital Partners LLC bought a new stake in Sunrise Realty Trust during the 1st quarter worth approximately $2,142,000.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on SUNS shares. Weiss Ratings reissued a "sell (d)" rating on shares of Sunrise Realty Trust in a report on Wednesday, October 8th. Keefe, Bruyette & Woods reduced their price target on Sunrise Realty Trust from $11.25 to $11.00 and set an "outperform" rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $13.13.
View Our Latest Research Report on SUNS
About Sunrise Realty Trust
(
Get Free Report)
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.
Further Reading
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