Sunrise Realty Trust (NASDAQ:SUNS) Chairman Leonard Tannenbaum Purchases 50,000 Shares

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum bought 50,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were acquired at an average price 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. The trade was a 1.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Sunrise Realty Trust Stock Performance

Shares of SUNS opened at $7.76 on Tuesday. Sunrise Realty Trust, Inc. has a 52-week low of $7.34 and a 52-week high of $11.78. The business’s fifty day moving average is $8.12 and its 200-day moving average is $8.34. The firm has a market cap of $104.92 million, a price-to-earnings ratio of 8.00, a PEG 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 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Sunrise Realty Trust had a return on equity of 8.25% and a net margin of 53.33%.The business had revenue of $8.56 million for the quarter, compared to analyst estimates of $7.17 million. As a group, research analysts forecast that Sunrise Realty Trust, Inc. will post 1.2 EPS for the current fiscal year.

Sunrise Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.20 annualized dividend and a yield of 15.5%. Sunrise Realty Trust’s payout ratio is presently 123.71%.

Hedge Funds Weigh In On Sunrise Realty Trust

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of Sunrise Realty Trust by 60.4% in the fourth 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Sunrise Realty Trust by 90.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company’s stock worth $67,000 after buying an additional 2,880 shares during the period. Rhumbline Advisers grew its holdings in Sunrise Realty Trust by 22.5% during the 1st quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock worth $108,000 after acquiring an additional 1,794 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Sunrise Realty Trust during the 2nd quarter worth approximately $133,000. Finally, Wells Fargo & Company MN grew its holdings in Sunrise Realty Trust by 46.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,394 shares of the company’s stock worth $107,000 after acquiring an additional 3,602 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SUNS shares. Keefe, Bruyette & Woods raised 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 note on Monday, May 18th. 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. 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. Finally, Wall Street Zen raised shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Two investment 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.com, the company has an average rating of “Reduce” and a consensus target price of $8.00.

Sunrise Realty Trust Company Profile

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.