Sunrise Realty Trust (NASDAQ:SUNS) Releases Earnings Results

Sunrise Realty Trust (NASDAQ:SUNS) released its quarterly earnings data on Thursday. The company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31, FiscalAI reports. The business had revenue of $6.06 million for the quarter, compared to analyst estimates of $6.81 million. Sunrise Realty Trust had a return on equity of 8.04% and a net margin of 62.48%.

Sunrise Realty Trust Stock Up 3.4%

NASDAQ SUNS traded up $0.32 on Friday, reaching $9.73. The company had a trading volume of 71,385 shares, compared to its average volume of 45,427. The company’s fifty day moving average is $10.16 and its 200 day moving average is $10.52. Sunrise Realty Trust has a 52-week low of $7.80 and a 52-week high of $15.70. The stock has a market capitalization of $130.58 million, a P/E ratio of 8.04, a P/E/G ratio of 0.74 and a beta of 0.93.

Sunrise Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.20 annualized dividend and a yield of 12.3%. Sunrise Realty Trust’s dividend payout ratio is 115.38%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SUNS. Weiss Ratings reiterated a “sell (d)” rating on shares of Sunrise Realty Trust in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods dropped their price objective on shares of Sunrise Realty Trust from $11.50 to $11.25 and set an “outperform” rating for the company in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sunrise Realty Trust has a consensus rating of “Moderate Buy” and an average target price of $13.19.

Insider Activity at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum bought 20,200 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were purchased at an average price of $11.00 per share, for a total transaction of $222,200.00. Following the purchase, the chairman directly owned 2,913,226 shares of the company’s stock, valued at approximately $32,045,486. This represents a 0.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have purchased 40,611 shares of company stock worth $438,583. 24.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunrise Realty Trust

Several large investors have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in Sunrise Realty Trust by 60.4% during 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 period. Cubist Systematic Strategies LLC bought a new position in shares of Sunrise Realty Trust during the 1st quarter valued at $139,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Sunrise Realty Trust by 90.1% in the first 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. Goldman Sachs Group Inc. increased its stake in Sunrise Realty Trust by 53.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 27,911 shares of the company’s stock worth $309,000 after purchasing an additional 9,732 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Sunrise Realty Trust by 22.5% in the first quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock worth $108,000 after purchasing an additional 1,794 shares during the last quarter.

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.