Sunrise Realty Trust (NASDAQ:SUNS) Chairman Buys $178,632.57 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard Tannenbaum bought 23,109 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average price of $7.73 per share, for a total transaction of $178,632.57. Following the completion of the acquisition, the chairman owned 3,047,719 shares of the company’s stock, valued at $23,558,867.87. The trade was a 0.76% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Sunrise Realty Trust Price Performance

Shares of SUNS stock opened at $7.50 on Friday. The stock has a market cap of $101.40 million, a P/E ratio of 7.73, a P/E/G ratio of 0.57 and a beta of 1.02. The company has a fifty day moving average price of $8.14 and a two-hundred day moving average price of $8.36. Sunrise Realty Trust, Inc. has a one year low of $7.34 and a one year high of $11.78.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $8.56 million during the quarter, compared to the consensus estimate of $7.17 million. Sunrise Realty Trust had a net margin of 53.33% and a return on equity of 8.24%. As a group, equities research analysts anticipate that Sunrise Realty Trust, Inc. will post 1.2 EPS for the current fiscal year.

Sunrise Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.20 dividend on an annualized basis and a yield of 16.0%. Sunrise Realty Trust’s dividend payout ratio (DPR) is presently 123.71%.

Hedge Funds Weigh In On Sunrise Realty Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Sunrise Realty Trust during the 2nd quarter worth approximately $1,038,000. Vanguard Group Inc. increased its position in Sunrise Realty Trust by 19.2% during the 3rd quarter. Vanguard Group Inc. now owns 588,554 shares of the company’s stock worth $6,115,000 after buying an additional 94,628 shares during the period. GatePass Capital LLC acquired a new position in shares of Sunrise Realty Trust in the first quarter valued at about $588,000. Corsair Capital Management L.P. grew its stake in shares of Sunrise Realty Trust by 407.0% in the fourth quarter. Corsair Capital Management L.P. now owns 50,704 shares of the company’s stock valued at $478,000 after acquiring an additional 40,704 shares in the last quarter. Finally, Geode Capital Management LLC increased its position 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 worth $2,383,000 after acquiring an additional 19,565 shares during the period.

Wall Street Analysts Forecast Growth

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

Sunrise Realty Trust Company Profile

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.