MYDA Advisors LLC Purchases New Holdings in Sunrise Realty Trust, Inc. $SUNS

Key Points

• MYDA Advisors LLC has made a new investment in Sunrise Realty Trust, acquiring 70,000 shares valued at approximately $775,000, representing about 0.52% of the company.
• Insider transactions show that Chairman Leonard M. Tannenbaum purchased 32,275 shares of Sunrise Realty, increasing his stake and highlighting confidence in the company.
• Sunrise Realty Trust declared a quarterly dividend of $0.30 per share, yielding 10.7%, though the payout ratio stands at 115.38%, indicating a potential risk of sustainability.

MYDA Advisors LLC bought a new stake in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 70,000 shares of the company's stock, valued at approximately $775,000. MYDA Advisors LLC owned about 0.52% of Sunrise Realty Trust as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SUNS. Raymond James Financial Inc. bought a new position in shares of Sunrise Realty Trust during the 1st quarter valued at $3,337,000. Pacific Ridge Capital Partners LLC bought a new stake in Sunrise Realty Trust in the 1st quarter worth $2,142,000. Castalian Partners LLC bought a new stake in Sunrise Realty Trust in the 4th quarter worth $2,709,000. Renaissance Technologies LLC bought a new stake in Sunrise Realty Trust in the 4th quarter worth $594,000. Finally, Marshall Wace LLP bought a new stake in Sunrise Realty Trust in the 4th quarter worth $475,000.

Insider Transactions at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum purchased 32,275 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average cost of $10.48 per share, with a total value of $338,242.00. Following the transaction, the chairman directly owned 2,878,209 shares in the company, valued at approximately $30,163,630.32. The trade was a 1.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have bought 99,786 shares of company stock worth $1,054,538.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods cut their price target on shares of Sunrise Realty Trust from $11.50 to $11.25 and set an "outperform" rating on the stock in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat, Sunrise Realty Trust presently has a consensus rating of "Buy" and an average target price of $13.19.

Sunrise Realty Trust Stock Down 0.5%

Shares of NASDAQ:SUNS traded down $0.05 on Tuesday, hitting $11.01. The company had a trading volume of 22,022 shares, compared to its average volume of 110,119. The firm's 50-day simple moving average is $10.66 and its two-hundred day simple moving average is $10.66. Sunrise Realty Trust, Inc. has a 1 year low of $7.80 and a 1 year high of $15.74. The firm has a market capitalization of $147.71 million, a price-to-earnings ratio of 10.60, a P/E/G ratio of 0.87 and a beta of 1.04.

Sunrise Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 10.9%. The ex-dividend date of this dividend was Monday, June 30th. Sunrise Realty Trust's dividend payout ratio (DPR) is 115.38%.

Sunrise Realty Trust 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.