Sunrise Realty Trust (NASDAQ:SUNS) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Sunrise Realty Trust (NASDAQ:SUNS) issued its quarterly earnings results on Tuesday. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.05), FiscalAI reports. Sunrise Realty Trust had a return on equity of 8.25% and a net margin of 53.33%. The business had revenue of $7.97 million for the quarter, compared to the consensus estimate of $9.13 million.

Sunrise Realty Trust Stock Performance

SUNS traded up $0.04 during trading hours on Tuesday, reaching $6.97. The company’s stock had a trading volume of 30,557 shares, compared to its average volume of 94,726. Sunrise Realty Trust has a 52 week low of $5.77 and a 52 week high of $10.45. The company’s 50-day moving average is $6.80 and its 200-day moving average is $7.94. The firm has a market cap of $94.23 million, a PE ratio of 7.19, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00.

Sunrise Realty Trust Dividend Announcement

The firm also recently declared a special dividend, which was paid on Thursday, November 5th. Investors of record on Monday, November 2nd were paid a $0.09 dividend. Sunrise Realty Trust’s dividend payout ratio (DPR) is presently 123.71%.

Analyst Upgrades and Downgrades

SUNS has been the topic of several analyst reports. New Street Research upgraded Sunrise Realty Trust from a “sell” rating to a “neutral” rating in a report on Wednesday, September 23rd. 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. Keefe, Bruyette & Woods cut their price target on shares of Sunrise Realty Trust from $8.00 to $6.50 and set a “market perform” rating for the company in a research note on Friday, October 9th. Finally, Weiss Ratings raised shares of Sunrise Realty Trust from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $6.50.

Insider Transactions at Sunrise Realty Trust

In related news, Chairman Leonard Tannenbaum acquired 50,000 shares of Sunrise Realty Trust stock in a transaction on Thursday, August 13th. The stock was purchased at an average cost of $7.50 per share, with a total value of $375,000.00. Following the completion of the transaction, the chairman directly owned 3,142,719 shares in the company, valued at $23,570,392.50. This trade represents a 1.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 28.50% of the stock is owned by corporate insiders.

About Sunrise Realty Trust

Sunrise Realty Trust, Inc. is a real estate investment trust focused on commercial real estate finance. The company invests in and originates commercial real estate debt, seeking to generate income from loans and other investments secured by properties in the United States. Its investment activities are centered primarily on mortgage loans and other credit investments backed by commercial real estate. These investments may support the acquisition, refinancing, development, redevelopment or repositioning of properties, with the portfolio generally targeting opportunities in the middle-market commercial real estate sector.