Leonard M. Tannenbaum Purchases 25,959 Shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum purchased 25,959 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were bought at an average price of $11.25 per share, for a total transaction of $292,038.75. Following the completion of the transaction, the chairman now directly owns 2,649,762 shares in the company, valued at approximately $29,809,822.50. This trade represents a 0.99 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sunrise Realty Trust Stock Down 1.4 %

Sunrise Realty Trust stock traded down $0.16 during mid-day trading on Thursday, hitting $11.29. 74,145 shares of the company’s stock traded hands, compared to its average volume of 99,615. Sunrise Realty Trust, Inc. has a one year low of $8.11 and a one year high of $15.74. The firm has a 50 day moving average price of $11.72 and a 200 day moving average price of $13.43.

Sunrise Realty Trust (NASDAQ:SUNS) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $3.45 million for the quarter, compared to the consensus estimate of $3.25 million. As a group, research analysts forecast that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current year.

Sunrise Realty Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.30 per share. The ex-dividend date is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.63%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its holdings in Sunrise Realty Trust by 14.8% during the fourth quarter. Barclays PLC now owns 8,484 shares of the company’s stock worth $120,000 after purchasing an additional 1,092 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Sunrise Realty Trust by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 125,942 shares of the company’s stock valued at $1,773,000 after buying an additional 1,887 shares during the period. Bank of America Corp DE boosted its stake in 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 valued at $73,000 after buying an additional 1,952 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Sunrise Realty Trust by 353.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock worth $41,000 after acquiring an additional 2,279 shares during the period. Finally, Spire Wealth Management acquired a new stake in Sunrise Realty Trust in the 4th quarter valued at about $137,000.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Raymond James dropped their target price on 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. Keefe, Bruyette & Woods dropped their price objective on shares of Sunrise Realty Trust from $12.75 to $12.25 and set an “outperform” rating on the stock in a report on Monday, March 10th. Finally, B. Riley initiated coverage on shares of Sunrise Realty Trust in a research note on Thursday, February 13th. They set a “buy” rating and a $15.00 target price for the company.

Sunrise Realty Trust Company Profile

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.