Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Purchases $551,500.00 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 50,000 shares of Sunrise Realty Trust stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average cost of $11.03 per share, with a total value of $551,500.00. Following the acquisition, the chairman now directly owns 2,543,289 shares in the company, valued at $28,052,477.67. This trade represents a 2.01 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Sunrise Realty Trust Stock Performance

Shares of NASDAQ:SUNS opened at $11.35 on Thursday. Sunrise Realty Trust, Inc. has a 12-month low of $8.11 and a 12-month high of $15.74. The company’s 50 day moving average price is $12.03 and its two-hundred day moving average price is $13.56.

Sunrise Realty Trust (NASDAQ:SUNS) last issued its quarterly 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 company had revenue of $3.45 million for the quarter, compared to analyst estimates of $3.25 million. As a group, sell-side analysts forecast that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current year.

Sunrise Realty Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 10.57%. The ex-dividend date is Monday, March 31st.

Institutional Investors Weigh In On Sunrise Realty Trust

Several institutional investors and hedge funds have recently bought and sold shares of SUNS. Bank of America Corp DE increased its holdings in 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. Castalian Partners LLC acquired a new stake in shares of 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% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock valued at $41,000 after acquiring an additional 2,279 shares during the last quarter. Marshall Wace LLP acquired a new position in Sunrise Realty Trust during the fourth quarter valued at approximately $475,000. Finally, Barclays PLC lifted its stake in Sunrise Realty Trust by 14.8% during the fourth quarter. Barclays PLC now owns 8,484 shares of the company’s stock worth $120,000 after purchasing an additional 1,092 shares during the last quarter.

Wall Street Analyst Weigh In

SUNS has been the subject of a number of research analyst reports. Raymond James reduced their price objective on Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating for the company in a report on Monday, March 10th. B. Riley began 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 objective on Sunrise Realty Trust from $12.75 to $12.25 and set an “outperform” rating on the stock in a research report on Monday, March 10th.

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.