Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Acquires 44,065 Shares

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum purchased 44,065 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was bought at an average cost of $10.89 per share, for a total transaction of $479,867.85. Following the purchase, the chairman now directly owns 2,711,322 shares in the company, valued at $29,526,296.58. This trade represents a 1.65 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sunrise Realty Trust Price Performance

SUNS opened at $10.90 on Wednesday. The company’s 50 day simple moving average is $11.60 and its two-hundred day simple moving average is $13.39. Sunrise Realty Trust, Inc. has a 1-year low of $8.11 and a 1-year high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its quarterly earnings data on Thursday, March 6th. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $3.45 million for the quarter, compared to analysts’ expectations of $3.25 million. Equities research analysts anticipate that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current year.

Sunrise Realty Trust Cuts Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.20 annualized dividend and a dividend yield of 11.01%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Sunrise Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of SUNS. Bank of America Corp DE grew its stake in shares of Sunrise Realty Trust by 60.4% in the 4th 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. Castalian Partners LLC acquired a new position in Sunrise Realty Trust in the fourth quarter valued at approximately $2,709,000. Tower Research Capital LLC TRC increased its stake 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 last quarter. Marshall Wace LLP purchased a new stake in Sunrise Realty Trust in the fourth quarter valued at $475,000. Finally, Barclays PLC lifted its stake in shares of Sunrise Realty Trust by 14.8% in the 4th quarter. Barclays PLC now owns 8,484 shares of the company’s stock valued at $120,000 after purchasing an additional 1,092 shares during the last quarter.

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.