Sunrise Realty Trust (NASDAQ:SUNS) Chairman Purchases $152,000.00 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum bought 20,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was acquired at an average cost of $7.60 per share, with a total value of $152,000.00. Following the completion of the transaction, the chairman directly owned 3,092,719 shares of the company’s stock, valued at approximately $23,504,664.40. This represents a 0.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Sunrise Realty Trust Stock Up 3.3%

Shares of SUNS opened at $7.75 on Friday. The firm has a market cap of $104.78 million, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 0.59 and a beta of 1.02. The company’s fifty day moving average is $8.13 and its 200-day moving average is $8.36. Sunrise Realty Trust, Inc. has a 12 month low of $7.34 and a 12 month high of $11.78.

Sunrise Realty Trust (NASDAQ:SUNS) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $8.56 million during the quarter, compared to analyst estimates of $7.17 million. Sunrise Realty Trust had a net margin of 53.33% and a return on equity of 8.25%. As a group, research analysts predict that Sunrise Realty Trust, Inc. will post 1.2 earnings per share for the current fiscal year.

Sunrise Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 15.5%. Sunrise Realty Trust’s payout ratio is currently 123.71%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SUNS. Hsbc Holdings PLC acquired a new stake in shares of Sunrise Realty Trust in the second quarter valued at about $133,000. BlackRock Inc. bought a new position in shares of Sunrise Realty Trust in the second quarter worth about $1,038,000. Quantinno Capital Management LP lifted its position in shares of Sunrise Realty Trust by 22.9% during the 1st quarter. Quantinno Capital Management LP now owns 50,951 shares of the company’s stock worth $391,000 after purchasing an additional 9,510 shares during the last quarter. GatePass Capital LLC acquired a new position in shares of Sunrise Realty Trust during the 1st quarter worth about $588,000. Finally, Osaic Holdings Inc. lifted its position in shares of Sunrise Realty Trust by 7.1% during the 4th quarter. Osaic Holdings Inc. now owns 16,947 shares of the company’s stock worth $160,000 after purchasing an additional 1,127 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have recently commented on SUNS shares. Weiss Ratings lowered Sunrise Realty Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 16th. Wall Street Zen upgraded Sunrise Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research raised Sunrise Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods increased their price target on Sunrise Realty Trust from $7.75 to $8.00 and gave the company a “market perform” rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $8.00.

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.