Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Purchases $195,419.15 in Stock

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

Sunrise Realty Trust Price Performance

Shares of NASDAQ SUNS traded down $0.75 during mid-day trading on Friday, hitting $9.82. The company had a trading volume of 202,839 shares, compared to its average volume of 102,317. The stock's 50-day moving average price is $11.54 and its 200-day moving average price is $13.33. Sunrise Realty Trust, Inc. has a 1 year low of $8.11 and a 1 year high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last posted its earnings results on Thursday, March 6th. The company reported $0.30 earnings per share for the quarter, meeting analysts' consensus estimates of $0.30. The company had revenue of $3.45 million for the quarter, compared to analysts' expectations of $3.25 million. Equities research analysts anticipate that Sunrise Realty Trust, Inc. will post 0.58 earnings per share for the current year.

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Sunrise Realty Trust Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SUNS. Tower Research Capital LLC TRC increased its stake in Sunrise Realty Trust by 353.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company's stock worth $41,000 after acquiring an additional 2,279 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of 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 bought a new position in shares of Sunrise Realty Trust in the third quarter worth approximately $106,000. Spire Wealth Management purchased a new stake in Sunrise Realty Trust in the fourth quarter valued at approximately $137,000. Finally, JPMorgan Chase & Co. purchased a new stake in Sunrise Realty Trust in the third quarter valued at approximately $155,000.

Analyst Ratings Changes

SUNS has been the subject of a number of recent research reports. B. Riley assumed coverage on Sunrise Realty Trust in a research report on Thursday, February 13th. They issued a "buy" rating and a $15.00 target price for the company. Raymond James decreased their price objective on Sunrise Realty Trust from $15.00 to $14.50 and set an "outperform" rating for the company in a report on Monday, March 10th. Finally, Keefe, Bruyette & Woods dropped 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 report on Monday, March 10th.

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.