Sunrise Realty Trust (NASDAQ:SUNS – Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01), FiscalAI reports. Sunrise Realty Trust had a return on equity of 8.24% and a net margin of 53.33%.The business had revenue of $8.56 million for the quarter, compared to analyst estimates of $7.17 million.
Here are the key takeaways from Sunrise Realty Trust’s conference call:
- Proposed SRT merger is expected to increase SUNS’s equity base by approximately 60%, improve financing access and trading liquidity, and generate G&A savings. The management agreement would also reduce the incentive fee rate to 17.5% and provide a $1 million fee waiver over four quarters.
- Second-quarter distributable earnings were $0.29 per share, while first-half distributable earnings of $0.65 per share exceeded the $0.60 per share in declared dividends, indicating continued portfolio earnings coverage.
- All loans were current and performing at quarter-end, with a weighted-average portfolio yield to maturity of approximately 12.3%. The Panther National loan repaid in full after quarter-end, reducing debt outstanding from $141.7 million to approximately $85.6 million and creating capital for redeployment.
- Management reported improving multifamily fundamentals in selected markets, including stronger absorption, rent increases and fewer concessions, while identifying a broader pipeline of need-driven structured lending opportunities. SUNS also signed a term sheet for a proposed $93 million senior construction loan for a Texas multifamily development.
- SUNS and its affiliates agreed to sell The Thompson San Antonio, with the buyer having funded $6 million in non-refundable option payments, while SUNS will provide seller financing. Management did not disclose expected loan-to-value or interest-rate terms for that financing.
Sunrise Realty Trust Trading Down 0.6%
NASDAQ SUNS traded down $0.05 during trading on Friday, hitting $7.80. 112,199 shares of the company traded hands, compared to its average volume of 58,318. Sunrise Realty Trust has a 12 month low of $7.34 and a 12 month high of $11.78. The business has a fifty day simple moving average of $8.23 and a 200 day simple moving average of $8.41. The company has a market capitalization of $105.46 million, a P/E ratio of 8.04, a PEG ratio of 0.59 and a beta of 1.02.
Sunrise Realty Trust Dividend Announcement
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Sunrise Realty Trust by 19.2% in the 3rd quarter. Vanguard Group Inc. now owns 588,554 shares of the company’s stock worth $6,115,000 after purchasing an additional 94,628 shares during the last quarter. Corsair Capital Management L.P. grew its holdings in Sunrise Realty Trust by 407.0% during the fourth quarter. Corsair Capital Management L.P. now owns 50,704 shares of the company’s stock valued at $478,000 after purchasing an additional 40,704 shares during the last quarter. Geode Capital Management LLC grew its holdings in Sunrise Realty Trust by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 252,711 shares of the company’s stock valued at $2,383,000 after purchasing an additional 19,565 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Sunrise Realty Trust by 67.3% in the fourth quarter. Renaissance Technologies LLC now owns 47,000 shares of the company’s stock valued at $443,000 after purchasing an additional 18,900 shares during the period. Finally, Curi Capital LLC acquired a new stake in shares of Sunrise Realty Trust in the second quarter worth $138,000.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on SUNS. Zacks Research raised shares of Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Wall Street Zen upgraded shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings lowered shares of Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, July 16th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the stock a “market perform” rating in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Sunrise Realty Trust currently has a consensus rating of “Reduce” and a consensus price target of $8.00.
View Our Latest Analysis on Sunrise Realty Trust
About Sunrise Realty Trust
Sunrise Realty Trust is a real estate investment trust (REIT) that focuses on acquiring, owning and leasing convenience store and fuel retail properties under long-term net leases. The company targets sale-leaseback transactions and joint-venture investments with high-credit tenants in the convenience retail sector. Sunrise Realty Trust’s portfolio comprises single-tenant properties that benefit from predictable cash flows, structured lease agreements and tenant-driven site improvements, providing exposure to a segment of the retail real estate market that aligns closely with consumer essentials.
The company’s primary business activities include sourcing and underwriting new property investments, negotiating sale-leaseback and ground lease transactions, and managing asset performance throughout the lease term.
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