Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Purchases $195,419.15 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 17,495 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was acquired at an average cost of $11.17 per share, with a total value of $195,419.15. Following the transaction, the chairman now owns 2,667,257 shares in the company, valued at $29,793,260.69. The trade was a 0.66 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Sunrise Realty Trust Trading Down 1.5 %

Sunrise Realty Trust stock traded down $0.17 during midday trading on Tuesday, hitting $10.90. The stock had a trading volume of 78,036 shares, compared to its average volume of 101,640. Sunrise Realty Trust, Inc. has a 52-week low of $8.11 and a 52-week high of $15.74. The firm’s fifty day moving average is $11.60 and its two-hundred day moving average is $13.39.

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 firm had revenue of $3.45 million for the quarter, compared to analysts’ expectations of $3.25 million. As a group, research analysts predict that Sunrise Realty Trust, Inc. will post 0.58 earnings per share for the current year.

Sunrise Realty Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 11.01%. The ex-dividend date is Monday, March 31st.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SUNS shares. B. Riley initiated coverage on Sunrise Realty Trust in a research note on Thursday, February 13th. They set a “buy” rating and a $15.00 price target for the company. Keefe, Bruyette & Woods decreased their price target on shares of Sunrise Realty Trust from $12.75 to $12.25 and set an “outperform” rating on the stock in a research report on Monday, March 10th. Finally, Raymond James reduced their price objective on Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating for the company in a research note on Monday, March 10th.

Hedge Funds Weigh In On Sunrise Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of SUNS. Tower Research Capital LLC TRC raised its stake in shares of Sunrise Realty Trust by 353.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock valued at $41,000 after acquiring an additional 2,279 shares during the period. Bank of America Corp DE grew its holdings in Sunrise Realty Trust by 60.4% during the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company’s stock valued at $73,000 after purchasing an additional 1,952 shares during the last quarter. Barclays PLC purchased a new stake in Sunrise Realty Trust in the 3rd quarter worth about $106,000. Spire Wealth Management bought a new stake in Sunrise Realty Trust in the fourth quarter worth about $137,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Sunrise Realty Trust during the third quarter valued at approximately $155,000.

About Sunrise Realty Trust

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.