MYDA Advisors LLC Takes $775,000 Position 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) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

Several other hedge funds have also modified their holdings of SUNS. Raymond James Financial Inc. purchased a new stake in shares of Sunrise Realty Trust during the first quarter valued at $3,337,000. Pacific Ridge Capital Partners LLC acquired a new position in Sunrise Realty Trust in the 1st quarter worth about $2,142,000. Castalian Partners LLC acquired a new position in Sunrise Realty Trust in the 4th quarter worth about $2,709,000. Renaissance Technologies LLC acquired a new position in Sunrise Realty Trust in the 4th quarter worth about $594,000. Finally, Marshall Wace LLP acquired a new position in shares of Sunrise Realty Trust during the 4th quarter valued at about $475,000.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lowered their target price on 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 analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat, Sunrise Realty Trust presently has an average rating of "Buy" and an average price target of $13.19.

Insider Transactions at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum acquired 32,275 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was purchased at an average price of $10.48 per share, for a total transaction of $338,242.00. Following the transaction, the chairman owned 2,878,209 shares in the company, valued at $30,163,630.32. This trade represents a 1.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders acquired 99,786 shares of company stock valued at $1,054,538. Insiders own 24.80% of the company's stock.

Sunrise Realty Trust Stock Up 0.5%

SUNS traded up $0.05 during trading on Monday, hitting $11.06. The company's stock had a trading volume of 55,079 shares, compared to its average volume of 65,188. The firm's 50 day moving average price is $10.66 and its two-hundred day moving average price is $10.66. Sunrise Realty Trust, Inc. has a 12 month low of $7.80 and a 12 month high of $15.74. The stock has a market capitalization of $148.44 million, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 0.87 and a beta of 1.04.

Sunrise Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.30 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.20 annualized dividend and a yield of 10.8%. Sunrise Realty Trust's payout ratio is presently 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.