Leonard M. Tannenbaum Buys 25,000 Shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 25,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $11.06 per share, for a total transaction of $276,500.00. Following the completion of the transaction, the chairman now owns 2,469,282 shares in the company, valued at approximately $27,310,258.92. This trade represents a 1.02 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Sunrise Realty Trust Stock Up 1.8 %

Shares of SUNS stock opened at $11.20 on Wednesday. The stock has a 50-day moving average of $12.03 and a 200-day moving average of $13.56. Sunrise Realty Trust, Inc. has a one year low of $8.11 and a one year high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $3.45 million for the quarter, compared to the consensus estimate of $3.25 million. As a group, research analysts expect that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current year.

Sunrise Realty Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a yield of 10.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Raymond James cut their target price on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating on the stock in a research report on Monday, March 10th. B. Riley started coverage on Sunrise Realty Trust in a research note on Thursday, February 13th. They issued a “buy” rating and a $15.00 price target for the company. Finally, Keefe, Bruyette & Woods lowered their price target on Sunrise Realty Trust from $12.75 to $12.25 and set an “outperform” rating for the company in a research note on Monday, March 10th.

Institutional Trading of Sunrise Realty Trust

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE increased its stake 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 worth $73,000 after purchasing an additional 1,952 shares in the last quarter. Castalian Partners LLC bought a new stake in Sunrise Realty Trust during the 4th quarter worth approximately $2,709,000. Tower Research Capital LLC TRC increased its stake in Sunrise Realty Trust by 353.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock worth $41,000 after purchasing an additional 2,279 shares in the last quarter. Marshall Wace LLP bought a new stake in Sunrise Realty Trust during the 4th quarter worth approximately $475,000. Finally, Barclays PLC grew its stake in shares of Sunrise Realty Trust by 14.8% during the 4th quarter. Barclays PLC now owns 8,484 shares of the company’s stock worth $120,000 after acquiring an additional 1,092 shares in the last quarter.

Sunrise Realty Trust Company Profile

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.