Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Purchases 25,000 Shares

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum acquired 25,000 shares of the stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $11.06 per share, with a total value of $276,500.00. Following the completion of the acquisition, the chairman now directly owns 2,469,282 shares of the company’s stock, valued at $27,310,258.92. This trade represents a 1.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Sunrise Realty Trust Trading Down 0.4 %

Shares of SUNS opened at $11.00 on Tuesday. Sunrise Realty Trust, Inc. has a 1-year low of $8.11 and a 1-year high of $15.74. The firm has a fifty day simple moving average of $12.14 and a two-hundred day simple moving average of $13.60.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $3.45 million during the quarter, compared to analysts’ expectations of $3.25 million. As a group, 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 is Monday, March 31st.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings 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 purchasing an additional 2,279 shares during the last quarter. Bank of America Corp DE raised its position 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 purchasing an additional 1,952 shares during the period. Barclays PLC purchased a new stake in Sunrise Realty Trust in the 3rd quarter worth about $106,000. Spire Wealth Management purchased a new position in shares of Sunrise Realty Trust during the fourth quarter worth approximately $137,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Sunrise Realty Trust during the third quarter worth approximately $155,000.

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.