Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard Tannenbaum purchased 50,000 shares of Sunrise Realty Trust stock in a transaction on Thursday, August 13th. The stock was bought at an average price of $7.50 per share, for a total transaction of $375,000.00. Following the transaction, the chairman directly owned 3,142,719 shares in the company, valued at approximately $23,570,392.50. The trade was a 1.62% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Sunrise Realty Trust Price Performance
Shares of SUNS opened at $7.76 on Tuesday. Sunrise Realty Trust, Inc. has a 1 year low of $7.34 and a 1 year high of $11.78. The company has a market capitalization of $104.92 million, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 0.59 and a beta of 1.02. The business has a 50-day moving average of $8.12 and a 200-day moving average of $8.34.
Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $8.56 million during the quarter, compared to analyst estimates of $7.17 million. As a group, sell-side analysts anticipate that Sunrise Realty Trust, Inc. will post 1.2 EPS for the current year.
Sunrise Realty Trust Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.30 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 15.5%. Sunrise Realty Trust's payout ratio is 123.71%.
Institutional Investors Weigh In On Sunrise Realty Trust
Several hedge funds and other institutional investors have recently bought and sold shares of SUNS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Sunrise Realty Trust by 90.1% during 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 period. Bank of America Corp DE grew its stake 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 valued at $73,000 after buying an additional 1,952 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Sunrise Realty Trust in the 1st quarter valued at about $87,000. Wells Fargo & Company MN increased its position in Sunrise Realty Trust by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 11,394 shares of the company's stock valued at $107,000 after buying an additional 3,602 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Sunrise Realty Trust by 22.5% in the 1st quarter. Rhumbline Advisers now owns 9,780 shares of the company's stock valued at $108,000 after buying an additional 1,794 shares in the last quarter.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. 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. Wall Street Zen raised shares of Sunrise Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Keefe, Bruyette & Woods increased their price target on Sunrise Realty Trust from $7.75 to $8.00 and gave the stock a "market perform" rating in a report on Monday, May 18th. Finally, Weiss Ratings lowered Sunrise Realty Trust from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, July 16th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Sunrise Realty Trust has an average rating of "Reduce" and a consensus price target of $8.00.
View Our Latest Research Report on Sunrise Realty Trust
About Sunrise Realty Trust
(
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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