Insider Buying: Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Buys 25,000 Shares of Stock

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

Sunrise Realty Trust Trading Up 1.3 %

Shares of Sunrise Realty Trust stock 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 business’s 50-day moving average price is $12.03 and its 200-day moving average price is $13.56.

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

Sunrise Realty Trust Cuts Dividend

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

Institutional Trading of Sunrise Realty Trust

Several institutional investors have recently added to or reduced their stakes in SUNS. Tower Research Capital LLC TRC lifted its stake in shares of Sunrise Realty Trust by 353.9% in the 4th 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. Bank of America Corp DE increased its stake 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 worth $73,000 after purchasing an additional 1,952 shares during the period. Barclays PLC bought a new stake in Sunrise Realty Trust in the third quarter valued at approximately $106,000. Spire Wealth Management purchased a new stake in shares of Sunrise Realty Trust during the fourth quarter valued at approximately $137,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Sunrise Realty Trust during the third quarter valued at approximately $155,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SUNS. B. Riley started coverage on Sunrise Realty Trust in a report on Thursday, February 13th. They set a “buy” rating and a $15.00 price objective for the company. Keefe, Bruyette & Woods cut their price target on shares of 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. Finally, Raymond James lowered their price objective 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.

About Sunrise Realty Trust

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.