Leonard M. Tannenbaum Acquires 25,000 Shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard M. Tannenbaum purchased 25,000 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $11.06 per share, with a total value of $276,500.00. Following the completion of the acquisition, the chairman now owns 2,469,282 shares of the company's stock, valued at approximately $27,310,258.92. The trade was a 1.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sunrise Realty Trust Stock Performance

Shares of NASDAQ:SUNS traded down $0.09 during midday trading on Friday, reaching $11.28. The company's stock had a trading volume of 193,620 shares, compared to its average volume of 97,494. Sunrise Realty Trust, Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $15.74. The business's fifty day simple moving average is $11.95 and its 200-day simple moving average is $13.53.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The company reported $0.30 EPS for the quarter, hitting analysts' consensus estimates of $0.30. The firm had revenue of $3.45 million during the quarter, compared to analyst estimates of $3.25 million. On average, equities research analysts predict that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current fiscal year.

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Sunrise Realty Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 10.64%. The ex-dividend date of this dividend is Monday, March 31st.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SUNS shares. B. Riley started coverage on Sunrise Realty Trust in a report on Thursday, February 13th. They set a "buy" rating and a $15.00 price target for the company. Raymond James cut their price target 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 cut their target price 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.

Hedge Funds Weigh In On Sunrise Realty Trust

Several institutional investors have recently modified their holdings of SUNS. Wasatch Advisors LP bought a new stake in Sunrise Realty Trust in the 3rd quarter valued at approximately $8,875,000. Castalian Partners LLC bought a new stake in shares of Sunrise Realty Trust during the 4th quarter worth $2,709,000. Geode Capital Management LLC bought a new stake in shares of Sunrise Realty Trust during the 3rd quarter worth $1,785,000. State Street Corp acquired a new position in Sunrise Realty Trust in the 3rd quarter worth about $1,788,000. Finally, Renaissance Technologies LLC acquired a new position in Sunrise Realty Trust in the 4th quarter worth about $594,000.

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.