Leonard Tannenbaum Purchases 20,000 Shares of Sunrise Realty Trust (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average price of $7.60 per share, with a total value of $152,000.00. Following the purchase, the chairman directly owned 3,092,719 shares in the company, valued at $23,504,664.40. This trade represents a 0.65% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Sunrise Realty Trust Stock Performance

Shares of SUNS opened at $7.75 on Friday. Sunrise Realty Trust, Inc. has a fifty-two week low of $7.34 and a fifty-two week high of $11.78. The business has a 50-day moving average of $8.13 and a 200 day moving average of $8.36. The firm has a market cap of $104.78 million, a P/E ratio of 7.99, a price-to-earnings-growth ratio of 0.57 and a beta of 1.02.

Sunrise Realty Trust (NASDAQ:SUNS) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $8.56 million for the quarter, compared to analysts’ expectations of $7.17 million. Sunrise Realty Trust had a net margin of 53.33% and a return on equity of 8.25%. As a group, research analysts predict that Sunrise Realty Trust, Inc. will post 1.2 earnings per share for the current fiscal year.

Sunrise Realty Trust Announces Dividend

The firm 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 of this dividend was Tuesday, June 30th. This represents a $1.20 annualized dividend and a dividend yield of 15.5%. Sunrise Realty Trust’s payout ratio is 123.71%.

Analysts Set New Price Targets

Several research firms recently commented on SUNS. Wall Street Zen raised shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings cut shares of Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 16th. Keefe, Bruyette & Woods boosted their target price on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the company a “market perform” rating in a report on Monday, May 18th. 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 investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $8.00.

Hedge Funds Weigh In On Sunrise Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Sunrise Realty Trust by 90.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company’s stock worth $67,000 after acquiring an additional 2,880 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Sunrise Realty Trust by 60.4% during the fourth 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. Hsbc Holdings PLC bought a new position in shares of Sunrise Realty Trust in the first quarter worth approximately $87,000. Wells Fargo & Company MN increased its position in shares of Sunrise Realty Trust by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,394 shares of the company’s stock worth $107,000 after purchasing an additional 3,602 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Sunrise Realty Trust by 22.5% in the first quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock worth $108,000 after purchasing an additional 1,794 shares during the last quarter.

About Sunrise Realty Trust

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.