Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) declared a quarterly dividend on Friday, March 7th, Wall Street Journal reports. Investors of record on Monday, March 31st will be paid a dividend of 0.30 per share on Tuesday, April 15th. This represents a $1.20 dividend on an annualized basis and a yield of 10.81%. The ex-dividend date of this dividend is Monday, March 31st.
Sunrise Realty Trust Price Performance
SUNS stock traded up $0.04 during midday trading on Friday, hitting $11.10. 366,515 shares of the company's stock were exchanged, compared to its average volume of 159,623. The firm has a 50 day moving average price of $12.54 and a 200-day moving average price of $13.68. Sunrise Realty Trust has a 12-month low of $8.11 and a 12-month high of $15.74.
Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $3.45 million during the quarter, compared to the consensus estimate of $3.25 million. Analysts predict that Sunrise Realty Trust will post 0.58 earnings per share for the current fiscal year.
Insider Activity at Sunrise Realty Trust
In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum purchased 39,000 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were bought at an average price of $13.42 per share, with a total value of $523,380.00. Following the completion of the acquisition, the chairman now owns 1,373,376 shares in the company, valued at approximately $18,430,705.92. This represents a 2.92 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 1,087,429 shares of company stock worth $13,171,696 in the last ninety days. 5.70% of the stock is owned by insiders.
Institutional Trading of Sunrise Realty Trust
An institutional investor recently raised its position in Sunrise Realty Trust stock. Bank of America Corp DE lifted its holdings in Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Free Report) by 60.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,183 shares of the company's stock after purchasing an additional 1,952 shares during the quarter. Bank of America Corp DE owned 0.07% of Sunrise Realty Trust worth $73,000 as of its most recent filing with the SEC.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on SUNS. Raymond James reiterated an "outperform" rating and issued a $15.00 price target (down from $17.50) on shares of Sunrise Realty Trust in a report on Monday, February 3rd. B. Riley started coverage on shares of Sunrise Realty Trust in a report on Thursday, February 13th. They issued a "buy" rating and a $15.00 price target for the company. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Sunrise Realty Trust in a research note on Tuesday, February 11th. They set an "outperform" rating and a $12.75 price objective on the stock.
Read Our Latest Stock Analysis on Sunrise Realty Trust
About Sunrise Realty Trust
(
Get Free Report)
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.
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