Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Shareholders to Receive $0.09 Special Dividend

Key Points

• Sunrise Realty Trust declared a $0.09 special dividend payable November 5 to shareholders of record on November 2; the ex-dividend date is also November 2.
• SUNS shares opened at $6.61, near analysts’ consensus price target of $6.50, after the company reported quarterly revenue of $8.56 million but missed earnings estimates slightly, posting EPS of $0.29 versus $0.30 expected.
• Analyst sentiment remains cautious: three analysts rate the stock Hold and one rates it Sell, resulting in a consensus “Reduce” rating, though some firms recently upgraded their outlooks.

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) declared a special dividend on Friday, October 23rd. Investors of record on Monday, November 2nd will be paid a dividend of $0.09 per share on Thursday, November 5th. The ex-dividend date of this dividend is Monday, November 2nd.

Sunrise Realty Trust Stock Up 0.3%

NASDAQ SUNS opened at $6.61 on Friday. The stock's 50-day simple moving average is $6.89 and its two-hundred day simple moving average is $8.01. Sunrise Realty Trust has a twelve month low of $5.77 and a twelve month high of $10.45. The company has a market capitalization of $89.34 million, a price-to-earnings ratio of 6.81, a PEG ratio of 0.53 and a beta of 1.04.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Sunrise Realty Trust had a return on equity of 8.25% and a net margin of 53.33%. The firm had revenue of $8.56 million for the quarter, compared to the consensus estimate of $7.17 million. On average, equities analysts expect that Sunrise Realty Trust will post 1.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on SUNS shares. New Street Research upgraded Sunrise Realty Trust from a "sell" rating to a "neutral" rating in a research report on Wednesday, September 23rd. Keefe, Bruyette & Woods cut their target price on Sunrise Realty Trust from $8.00 to $6.50 and set a "market perform" rating for the company in a research note on Friday, October 9th. Weiss Ratings upgraded shares of Sunrise Realty Trust from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, October 2nd. Finally, Zacks Research raised shares of Sunrise Realty Trust from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $6.50.

Sunrise Realty Trust Company Profile

Sunrise Realty Trust, Inc is a real estate investment trust focused on commercial real estate finance. The company invests in and originates commercial real estate debt, seeking to generate income from loans and other investments secured by properties in the United States.

Its investment activities are centered primarily on mortgage loans and other credit investments backed by commercial real estate. These investments may support the acquisition, refinancing, development, redevelopment or repositioning of properties, with the portfolio generally targeting opportunities in the middle-market commercial real estate sector.

Sunrise Realty Trust is externally managed and focuses on building a diversified portfolio of commercial real estate investments.

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