Insider Buying: Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Acquires 17,495 Shares of Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard M. Tannenbaum purchased 17,495 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were purchased at an average price of $11.17 per share, for a total transaction of $195,419.15. Following the purchase, the chairman now directly owns 2,667,257 shares in the company, valued at $29,793,260.69. The trade was a 0.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sunrise Realty Trust Stock Down 7.1 %

Shares of SUNS stock traded down $0.75 during mid-day trading on Friday, hitting $9.82. The stock had a trading volume of 202,944 shares, compared to its average volume of 102,318. The company's 50-day simple moving average is $11.49 and its 200-day simple moving average is $13.28. Sunrise Realty Trust, Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $15.74.

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

Sunrise Realty Trust Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.30 per share. The ex-dividend date is Monday, March 31st. This represents a $1.20 annualized dividend and a dividend yield of 12.22%.

Institutional Trading of Sunrise Realty Trust

A number of institutional investors have recently added to or reduced their stakes in SUNS. Tower Research Capital LLC TRC increased its holdings in Sunrise Realty Trust by 353.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company's stock valued at $41,000 after buying an additional 2,279 shares in the last quarter. Bank of America Corp DE boosted its position in Sunrise Realty Trust by 60.4% during the fourth quarter. Bank of America Corp DE now owns 5,183 shares of the company's stock worth $73,000 after purchasing an additional 1,952 shares in the last quarter. Barclays PLC acquired a new stake in Sunrise Realty Trust in the third quarter valued at $106,000. Spire Wealth Management purchased a new position in shares of Sunrise Realty Trust in the fourth quarter valued at $137,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Sunrise Realty Trust during the 3rd quarter worth $155,000.

Wall Street Analysts Forecast Growth

SUNS has been the topic of a number of research reports. Raymond James lowered their target price on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an "outperform" rating on the stock in a research report on Monday, March 10th. Keefe, Bruyette & Woods lowered their price objective on shares of Sunrise Realty Trust from $12.75 to $12.25 and set an "outperform" rating on the stock in a research report on Monday, March 10th. Finally, B. Riley began coverage on Sunrise Realty Trust in a report on Thursday, February 13th. They set a "buy" rating and a $15.00 price target on the stock.

About Sunrise Realty Trust

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.