Sunrise Realty Trust (NASDAQ:SUNS) Chairman Leonard Tannenbaum Buys 23,109 Shares of Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum bought 23,109 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average price of $7.73 per share, with a total value of $178,632.57. Following the completion of the acquisition, the chairman owned 3,047,719 shares of the company’s stock, valued at $23,558,867.87. This trade represents a 0.76% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sunrise Realty Trust Stock Down 3.1%

Shares of SUNS opened at $7.49 on Wednesday. Sunrise Realty Trust, Inc. has a fifty-two week low of $7.34 and a fifty-two week high of $11.78. The company’s fifty day moving average is $8.19 and its two-hundred day moving average is $8.39. The firm has a market cap of $101.26 million, a PE ratio of 7.72, a price-to-earnings-growth ratio of 0.59 and a beta of 1.02.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm 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 8.24%. As a group, equities research analysts anticipate that Sunrise Realty Trust, Inc. will post 1.2 earnings per share for the current year.

Sunrise Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.0%. Sunrise Realty Trust’s payout ratio is presently 123.71%.

Institutional Trading of Sunrise Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in SUNS. GatePass Capital LLC acquired a new stake in shares of Sunrise Realty Trust in the 1st quarter valued at about $588,000. Royal Bank of Canada lifted its holdings in shares of Sunrise Realty Trust by 12.5% in the 4th quarter. Royal Bank of Canada now owns 13,782 shares of the company’s stock worth $130,000 after purchasing an additional 1,535 shares during the last quarter. Barclays PLC lifted its stake in Sunrise Realty Trust by 7.3% in the fourth quarter. Barclays PLC now owns 22,183 shares of the company’s stock valued at $209,000 after buying an additional 1,518 shares during the last quarter. Wells Fargo & Company MN lifted its position in Sunrise Realty Trust by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 11,394 shares of the company’s stock valued at $107,000 after purchasing an additional 3,602 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Sunrise Realty Trust by 16.3% during the third quarter. Alliancebernstein L.P. now owns 15,672 shares of the company’s stock worth $163,000 after buying an additional 2,200 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SUNS. Keefe, Bruyette & Woods lifted their price target on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the company a “market perform” rating in a research report on Monday, May 18th. Weiss Ratings lowered shares of Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 16th. Zacks Research raised shares of Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen upgraded shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Sunrise Realty Trust has a consensus rating of “Reduce” and a consensus target price of $8.00.

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.