Leonard M. Tannenbaum Purchases 50,000 Shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 50,000 shares of Sunrise Realty Trust stock in a transaction dated Monday, March 17th. The shares were bought at an average cost of $11.03 per share, with a total value of $551,500.00. Following the completion of the transaction, the chairman now directly owns 2,543,289 shares in the company, valued at approximately $28,052,477.67. This trade represents a 2.01 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Sunrise Realty Trust Stock Down 0.4 %

SUNS opened at $11.00 on Tuesday. The company has a 50 day moving average of $12.14 and a 200 day moving average of $13.60. 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 announced its quarterly earnings results on Thursday, March 6th. The company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $3.45 million during the quarter, compared to the consensus estimate of $3.25 million. As a group, equities analysts forecast that Sunrise Realty Trust, Inc. will post 0.58 earnings per share for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 10.91%. The ex-dividend date of this dividend is Monday, March 31st.

Institutional Trading of Sunrise Realty Trust

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

Wall Street Analysts Forecast Growth

SUNS has been the subject of a number of research reports. Raymond James reduced their target price on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating for the company in a research report on Monday, March 10th. Keefe, Bruyette & Woods cut 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 report on Monday, March 10th. Finally, B. Riley began coverage on shares of Sunrise Realty Trust in a report on Thursday, February 13th. They issued a “buy” rating and a $15.00 price objective 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.