Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Buys 50,000 Shares

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard M. Tannenbaum bought 50,000 shares of Sunrise Realty Trust stock in a transaction dated Monday, March 17th. The stock was acquired at an average cost of $11.03 per share, with a total value of $551,500.00. Following the transaction, the chairman now owns 2,543,289 shares of the company's stock, valued at $28,052,477.67. This trade represents a 2.01 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sunrise Realty Trust Trading Down 0.8 %

Sunrise Realty Trust stock traded down $0.09 during mid-day trading on Friday, hitting $11.28. The company had a trading volume of 193,620 shares, compared to its average volume of 97,452. The stock's 50 day moving average price is $11.95 and its two-hundred day moving average price is $13.53. Sunrise Realty Trust, Inc. 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 announced its quarterly earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.30. The business had revenue of $3.45 million for the quarter, compared to the consensus estimate 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.

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Sunrise Realty Trust Cuts Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 10.64%. The ex-dividend date is Monday, March 31st.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. State Street Corp bought a new position in Sunrise Realty Trust in the third quarter valued at about $1,788,000. Geode Capital Management LLC purchased a new stake in Sunrise Realty Trust in the third quarter worth about $1,785,000. Barclays PLC purchased a new stake in Sunrise Realty Trust in the third quarter worth about $106,000. Charles Schwab Investment Management Inc. purchased a new stake in Sunrise Realty Trust in the third quarter worth about $231,000. Finally, JPMorgan Chase & Co. purchased a new stake in Sunrise Realty Trust in the third quarter worth about $155,000.

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.