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

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 44,065 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was purchased at an average cost of $10.89 per share, for a total transaction of $479,867.85. Following the transaction, the chairman now directly owns 2,711,322 shares of the company’s stock, valued at $29,526,296.58. The trade was a 1.65 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sunrise Realty Trust Stock Performance

NASDAQ:SUNS traded down $0.17 during mid-day trading on Tuesday, reaching $10.90. The stock had a trading volume of 78,036 shares, compared to its average volume of 101,640. The stock has a 50-day simple moving average of $11.60 and a two-hundred day simple moving average of $13.39. Sunrise Realty Trust, Inc. has a 12 month low of $8.11 and a 12 month high of $15.74.

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

Sunrise Realty Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 annualized dividend and a yield of 11.01%.

Hedge Funds Weigh In On Sunrise Realty Trust

Large investors have recently modified their holdings of the business. Bank of America Corp DE lifted 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 worth $73,000 after acquiring 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 $2,709,000. Tower Research Capital LLC TRC boosted its position 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 valued at $41,000 after acquiring an additional 2,279 shares during the last quarter. Marshall Wace LLP bought a new stake in Sunrise Realty Trust during the fourth quarter valued at $475,000. Finally, Barclays PLC grew its holdings in Sunrise Realty Trust by 14.8% during the 4th quarter. Barclays PLC now owns 8,484 shares of the company’s stock worth $120,000 after acquiring an additional 1,092 shares during the period.

Analyst Upgrades and Downgrades

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

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.