Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Buys 20,900 Shares

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum acquired 20,900 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were bought at an average price of $10.17 per share, for a total transaction of $212,553.00. Following the completion of the purchase, the chairman owned 2,845,934 shares of the company’s stock, valued at approximately $28,943,148.78. This represents a 0.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Sunrise Realty Trust Trading Up 1.4%

Shares of Sunrise Realty Trust stock opened at $10.78 on Thursday. The company’s 50-day moving average price is $10.69 and its two-hundred day moving average price is $10.76. Sunrise Realty Trust, Inc. has a 52 week low of $7.80 and a 52 week high of $15.74. The stock has a market cap of $144.68 million and a PE ratio of 10.37.

Sunrise Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.30 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.20 annualized dividend and a yield of 11.1%. Sunrise Realty Trust’s payout ratio is 115.38%.

Wall Street Analysts Forecast Growth

SUNS has been the topic of a number of recent analyst reports. Oppenheimer initiated coverage on shares of Sunrise Realty Trust in a research note on Thursday, April 17th. They set an “outperform” rating and a $12.00 price objective on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Sunrise Realty Trust from $11.50 to $11.25 and set an “outperform” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $13.19.

Institutional Investors Weigh In On Sunrise Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. acquired a new stake in Sunrise Realty Trust during the 1st quarter worth about $25,000. Nisa Investment Advisors LLC raised its holdings in Sunrise Realty Trust by 61.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,014 shares of the company’s stock worth $33,000 after buying an additional 1,149 shares during the period. Tower Research Capital LLC TRC raised its holdings in 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 worth $41,000 after buying an additional 2,279 shares during the period. Corebridge Financial Inc. raised its holdings in Sunrise Realty Trust by 82.4% during the 1st quarter. Corebridge Financial Inc. now owns 5,117 shares of the company’s stock worth $57,000 after buying an additional 2,312 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Sunrise Realty Trust by 90.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company’s stock worth $67,000 after buying an additional 2,880 shares during the period.

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.