Key Points
- Insider buying: Chairman Leonard Tannenbaum purchased 20,000 SUNS shares at $7.60 each for $152,000, increasing his stake by 0.65% to 3.09 million shares.
- Financial performance: Sunrise Realty Trust reported quarterly EPS of $0.29, slightly below the $0.30 analyst consensus, while revenue of $8.56 million exceeded estimates of $7.17 million.
- Dividend and outlook: The company’s $0.30 quarterly dividend implies a 16.0% annualized yield, though its 123.71% payout ratio is high. Analysts maintain a generally cautious view, with a consensus “Reduce” rating and an $8.00 price target.
Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard Tannenbaum purchased 20,000 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $7.60 per share, with a total value of $152,000.00. Following the completion of the acquisition, the chairman directly owned 3,092,719 shares in the company, valued at approximately $23,504,664.40. This trade represents a 0.65% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Sunrise Realty Trust Stock Down 0.1%
Shares of NASDAQ SUNS opened at $7.50 on Friday. The firm's 50-day moving average price is $8.14 and its two-hundred day moving average price is $8.36. Sunrise Realty Trust, Inc. has a 52-week low of $7.34 and a 52-week high of $11.78. The stock has a market capitalization of $101.40 million, a P/E ratio of 7.73, a P/E/G ratio of 0.57 and a beta of 1.02.
Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). Sunrise Realty Trust had a return on equity of 8.24% and a net margin of 53.33%.The company had revenue of $8.56 million for the quarter, compared to analyst estimates of $7.17 million. As a group, equities research analysts expect that Sunrise Realty Trust, Inc. will post 1.2 earnings per share for the current year.
Sunrise Realty Trust Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.30 dividend. 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 dividend payout ratio (DPR) is currently 123.71%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on SUNS shares. Wall Street Zen upgraded shares of Sunrise Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Keefe, Bruyette & Woods raised their price target on shares of 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 downgraded Sunrise Realty Trust from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, July 16th. Finally, Zacks Research upgraded Sunrise Realty Trust from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $8.00.
Check Out Our Latest Report on Sunrise Realty Trust
Hedge Funds Weigh In On Sunrise Realty Trust
Large investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Sunrise Realty Trust during the 2nd quarter worth about $1,038,000. Vanguard Group Inc. boosted its holdings in shares of Sunrise Realty Trust by 19.2% in the third quarter. Vanguard Group Inc. now owns 588,554 shares of the company's stock valued at $6,115,000 after acquiring an additional 94,628 shares in the last quarter. GatePass Capital LLC bought a new position in shares of Sunrise Realty Trust in the first quarter valued at approximately $588,000. Corsair Capital Management L.P. increased its stake in shares of Sunrise Realty Trust by 407.0% during the fourth quarter. Corsair Capital Management L.P. now owns 50,704 shares of the company's stock valued at $478,000 after acquiring an additional 40,704 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Sunrise Realty Trust by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 252,711 shares of the company's stock worth $2,383,000 after purchasing an additional 19,565 shares in the last quarter.
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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