Sunrise Realty Trust, Inc. (NASDAQ:SUNS) to Issue Quarterly Dividend of $0.30

Key Points

• Sunrise Realty Trust declared a quarterly dividend of $0.30 per share, payable October 15 to shareholders of record on September 30. The dividend implies an annualized yield of approximately 16.1%.
• SUNS shares rose 0.3% to $7.45, near the lower end of their 52-week range of $7.19 to $11.78. The company’s latest earnings missed estimates by $0.01 per share, although revenue exceeded expectations.
• Insider and institutional interest increased: Chairman Leonard Tannenbaum bought 50,000 shares, while BlackRock, Susquehanna International Group and other investors initiated or expanded positions.

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) announced a quarterly dividend on Tuesday, September 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of 0.30 per share on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 16.1%. The ex-dividend date of this dividend is Wednesday, September 30th.

Sunrise Realty Trust Stock Up 0.3%

Shares of Sunrise Realty Trust stock traded up $0.02 during trading on Tuesday, reaching $7.45. The company's stock had a trading volume of 77,317 shares, compared to its average volume of 96,175. The company has a market cap of $100.69 million, a price-to-earnings ratio of 7.68, a PEG ratio of 0.56 and a beta of 1.00. The firm's 50-day moving average is $7.76 and its two-hundred day moving average is $8.09. Sunrise Realty Trust has a 52-week low of $7.19 and a 52-week high of $11.78.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share 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 business had revenue of $8.56 million during the quarter, compared to the consensus estimate of $7.17 million. On average, equities research analysts anticipate that Sunrise Realty Trust will post 1.19 EPS for the current year.

Insider Buying and Selling at Sunrise Realty Trust

In other news, Chairman Leonard Tannenbaum purchased 50,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were purchased at an average cost of $7.50 per share, with a total value of $375,000.00. Following the acquisition, the chairman directly owned 3,142,719 shares of the company's stock, valued at $23,570,392.50. This represents a 1.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders acquired 118,822 shares of company stock worth $905,787. 28.50% of the stock is owned by corporate insiders.

Institutional Trading of Sunrise Realty Trust

Several large investors have recently modified their holdings of SUNS. Susquehanna International Group LLP bought a new position in Sunrise Realty Trust in the second quarter valued at about $233,000. Hsbc Holdings PLC bought a new stake in shares of Sunrise Realty Trust during the 2nd quarter valued at about $133,000. BlackRock Inc. bought a new stake in shares of Sunrise Realty Trust during the 2nd quarter valued at about $1,038,000. Quantinno Capital Management LP increased its position in shares of Sunrise Realty Trust by 22.9% during the 1st quarter. Quantinno Capital Management LP now owns 50,951 shares of the company's stock valued at $391,000 after purchasing an additional 9,510 shares during the last quarter. Finally, GatePass Capital LLC purchased a new stake in shares of Sunrise Realty Trust during the 1st quarter valued at about $588,000.

About Sunrise Realty Trust

Sunrise Realty Trust is a real estate investment trust (REIT) that focuses on acquiring, owning and leasing convenience store and fuel retail properties under long-term net leases. The company targets sale-leaseback transactions and joint-venture investments with high-credit tenants in the convenience retail sector. Sunrise Realty Trust's portfolio comprises single-tenant properties that benefit from predictable cash flows, structured lease agreements and tenant-driven site improvements, providing exposure to a segment of the retail real estate market that aligns closely with consumer essentials.

The company's primary business activities include sourcing and underwriting new property investments, negotiating sale-leaseback and ground lease transactions, and managing asset performance throughout the lease term.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.