Key Points
- Chairman Leonard Tannenbaum bought 23,109 SUNS shares at an average price of $7.73, increasing his direct ownership by 0.76% to 3.05 million shares.
- Sunrise Realty Trust reported quarterly EPS of $0.29, slightly below the $0.30 consensus, while revenue of $8.56 million exceeded estimates of $7.17 million.
- The stock traded at $7.49, down 3.1%, while the company maintained a quarterly dividend of $0.30 per share, representing a 16% annualized yield; analysts’ consensus rating remains “Reduce” with an $8.00 price target.
Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard Tannenbaum acquired 23,109 shares of Sunrise Realty Trust stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average cost of $7.73 per share, with a total value of $178,632.57. Following the acquisition, the chairman directly owned 3,047,719 shares of the company's stock, valued at approximately $23,558,867.87. This trade represents a 0.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Sunrise Realty Trust Trading Down 3.1%
Sunrise Realty Trust stock opened at $7.49 on Wednesday. The stock has a market cap of $101.26 million, a price-to-earnings ratio of 7.72, a PEG ratio of 0.59 and a beta of 1.02. The company's 50-day moving average price is $8.19 and its two-hundred day moving average price is $8.39. Sunrise Realty Trust, Inc. has a 52 week low of $7.34 and a 52 week high of $11.78.
Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). The company had revenue of $8.56 million for the quarter, compared to the consensus estimate of $7.17 million. Sunrise Realty Trust had a return on equity of 8.24% and a net margin of 53.33%. Research analysts expect that Sunrise Realty Trust, Inc. will post 1.2 earnings per share for the current fiscal year.
Sunrise Realty Trust Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.20 annualized dividend and a yield of 16.0%. Sunrise Realty Trust's payout ratio is presently 123.71%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on SUNS. Wall Street Zen upgraded Sunrise Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Keefe, Bruyette & Woods raised their target price on Sunrise Realty Trust from $7.75 to $8.00 and gave the company a "market perform" rating in a research note on Monday, May 18th. Weiss Ratings lowered Sunrise Realty Trust from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, July 16th. Finally, Zacks Research upgraded shares of Sunrise Realty Trust from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Sunrise Realty Trust presently has an average rating of "Reduce" and a consensus price target of $8.00.
Get Our Latest Stock Report on SUNS
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of SUNS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Sunrise Realty Trust by 90.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company's stock valued at $67,000 after acquiring an additional 2,880 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Sunrise Realty Trust by 60.4% in the 4th 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 during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Sunrise Realty Trust in the 1st quarter worth $87,000. Wells Fargo & Company MN raised its position in shares of Sunrise Realty Trust by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 11,394 shares of the company's stock worth $107,000 after purchasing an additional 3,602 shares during the period. Finally, Rhumbline Advisers raised its position 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 worth $108,000 after purchasing an additional 1,794 shares during the period.
Sunrise Realty Trust Company Profile
(
Get Free Report)
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.
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