Leonard M. Tannenbaum Purchases 25,959 Shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard M. Tannenbaum acquired 25,959 shares of the business's stock in a transaction dated Wednesday, March 26th. The shares were bought at an average price of $11.25 per share, for a total transaction of $292,038.75. Following the acquisition, the chairman now owns 2,649,762 shares of the company's stock, valued at approximately $29,809,822.50. This represents a 0.99 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sunrise Realty Trust Trading Down 1.2 %

Shares of Sunrise Realty Trust stock traded down $0.14 during trading hours on Monday, reaching $11.07. The stock had a trading volume of 164,199 shares, compared to its average volume of 101,769. The stock's 50 day moving average is $11.60 and its 200 day moving average is $13.39. Sunrise Realty Trust, Inc. has a twelve month low of $8.11 and a twelve month high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.30. The business had revenue of $3.45 million for the quarter, compared to analysts' expectations of $3.25 million. As a group, equities analysts predict that Sunrise Realty Trust, Inc. will post 0.58 earnings per share for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 10.84%. The ex-dividend date is Monday, March 31st.

Analyst Ratings Changes

Several analysts have recently commented on SUNS shares. Raymond James dropped their price objective on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an "outperform" rating on the stock in a report on Monday, March 10th. Keefe, Bruyette & Woods lowered their price target on shares of Sunrise Realty Trust from $12.75 to $12.25 and set an "outperform" rating on the stock in a report on Monday, March 10th. Finally, B. Riley initiated coverage on Sunrise Realty Trust in a research note on Thursday, February 13th. They set a "buy" rating and a $15.00 price objective for the company.

Hedge Funds Weigh In On Sunrise Realty Trust

A number of large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. purchased a new stake in shares of Sunrise Realty Trust during the third quarter worth about $231,000. Wasatch Advisors LP acquired a new stake in Sunrise Realty Trust in the 3rd quarter worth about $8,875,000. State Street Corp purchased a new stake in Sunrise Realty Trust during the 3rd quarter worth approximately $1,788,000. Barclays PLC purchased a new stake in Sunrise Realty Trust during the 3rd quarter worth approximately $106,000. Finally, Geode Capital Management LLC acquired a new position in shares of Sunrise Realty Trust during the third quarter valued at approximately $1,785,000.

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.