Sunrise Realty Trust (NASDAQ:SUNS) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Key Points

• Sunrise Realty Trust missed quarterly expectations: EPS was $0.24 versus the $0.29 consensus, while revenue of $7.97 million fell short of analysts’ $9.13 million estimate.
• Shares rose 0.6% to $6.97 during Tuesday trading. The company also paid a special dividend of $0.09 per share; its reported payout ratio was 123.71%.
• Analyst sentiment remains cautious: MarketBeat lists an average “Reduce” rating and a $6.50 price target. Chairman Leonard Tannenbaum bought 50,000 shares for $375,000.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) posted its earnings results on Tuesday. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.05), FiscalAI reports. Sunrise Realty Trust had a return on equity of 8.25% and a net margin of 53.33%. The firm had revenue of $7.97 million for the quarter, compared to analysts' expectations of $9.13 million.

Sunrise Realty Trust Stock Up 0.6%

Shares of NASDAQ SUNS traded up $0.04 during midday trading on Tuesday, hitting $6.97. The stock had a trading volume of 30,557 shares, compared to its average volume of 94,726. The stock has a 50 day simple moving average of $6.80 and a 200-day simple moving average of $7.94. The company has a market capitalization of $94.23 million, a PE ratio of 7.19, a P/E/G ratio of 0.56 and a beta of 1.00. Sunrise Realty Trust has a 1 year low of $5.77 and a 1 year high of $10.45.

Sunrise Realty Trust Announces Dividend

The business also recently disclosed a special dividend, which was paid on Thursday, November 5th. Shareholders of record on Monday, November 2nd were issued a dividend of $0.09 per share. Sunrise Realty Trust's payout ratio is 123.71%.

Insider Activity at Sunrise Realty Trust

In other news, Chairman Leonard Tannenbaum acquired 50,000 shares of Sunrise Realty Trust stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $7.50 per share, with a total value of $375,000.00. Following the purchase, the chairman owned 3,142,719 shares in the company, valued at $23,570,392.50. This trade represents a 1.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 28.50% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods cut their price target 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 Sunrise Realty Trust from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, October 2nd. New Street Research raised Sunrise Realty Trust from a "sell" rating to a "neutral" rating in a report on Wednesday, September 23rd. Finally, Zacks Research raised Sunrise Realty Trust from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 28th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target 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.

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