Sunrise Realty Trust (NASDAQ:SUNS) Announces Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Sunrise Realty Trust (NASDAQ:SUNS) announced its quarterly earnings data on Tuesday. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.05), FiscalAI reports. The business had revenue of $7.97 million for the quarter, compared to analysts’ expectations of $9.13 million. Sunrise Realty Trust had a net margin of 53.33% and a return on equity of 8.25%.

Sunrise Realty Trust Price Performance

Shares of SUNS traded up $0.04 during mid-day trading on Tuesday, reaching $6.97. The stock had a trading volume of 30,557 shares, compared to its average volume of 94,726. Sunrise Realty Trust has a 52-week low of $5.77 and a 52-week high of $10.45. The business’s fifty day moving average is $6.80 and its 200 day moving average is $7.94. The firm has a market cap of $94.23 million, a price-to-earnings ratio of 7.19, a P/E/G ratio of 0.56 and a beta of 1.00.

Sunrise Realty Trust Announces Dividend

The company also recently declared a special dividend, which was paid on Thursday, November 5th. Stockholders of record on Monday, November 2nd were given a dividend of $0.09 per share. Sunrise Realty Trust’s payout ratio is 123.71%.

Insider Transactions at Sunrise Realty Trust

In other news, Chairman Leonard Tannenbaum bought 50,000 shares of Sunrise Realty Trust stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of $7.50 per share, with a total value of $375,000.00. Following the completion of the purchase, the chairman directly owned 3,142,719 shares of the company’s stock, valued at approximately $23,570,392.50. This trade represents a 1.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 28.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SUNS shares. Keefe, Bruyette & Woods decreased their target price on shares of Sunrise Realty Trust from $8.00 to $6.50 and set a “market perform” rating on the stock in a research note on Friday, October 9th. Weiss Ratings upgraded Sunrise Realty Trust from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. Zacks Research upgraded Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, New Street Research raised Sunrise Realty Trust from a “sell” rating to a “neutral” rating in a report on Wednesday, September 23rd. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sunrise Realty Trust currently has a consensus rating of “Reduce” and a consensus target price of $6.50.

Sunrise Realty Trust Company Profile

Sunrise Realty Trust, Inc. is a real estate investment trust focused on commercial real estate finance. The company invests in and originates commercial real estate debt, seeking to generate income from loans and other investments secured by properties in the United States. Its investment activities are centered primarily on mortgage loans and other credit investments backed by commercial real estate. These investments may support the acquisition, refinancing, development, redevelopment or repositioning of properties, with the portfolio generally targeting opportunities in the middle-market commercial real estate sector.