Pacific Ridge Capital Partners LLC Invests $2.14 Million in Sunrise Realty Trust, Inc. (NASDAQ:SUNS)

Key Points

• Pacific Ridge Capital Partners LLC acquired 193,486 shares of Sunrise Realty Trust, valued at around $2.14 million, representing approximately 1.44% ownership as of the latest SEC filing.
• Sunrise Realty Trust announced a quarterly dividend of $0.30 per share, translating to an annualized dividend of $1.20 and a yield of 12.2%, with a payout ratio of 118.81%.
• Analysts have set an average target price of $13.25 for Sunrise Realty Trust, with ratings that include one hold, three buys, and one strong buy.

Pacific Ridge Capital Partners LLC purchased a new position in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 193,486 shares of the company's stock, valued at approximately $2,142,000. Pacific Ridge Capital Partners LLC owned 1.44% of Sunrise Realty Trust as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SUNS. Barclays PLC grew its stake in Sunrise Realty Trust by 14.8% during the 4th quarter. Barclays PLC now owns 8,484 shares of the company's stock valued at $120,000 after purchasing an additional 1,092 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Sunrise Realty Trust by 22.5% in the first quarter. Rhumbline Advisers now owns 9,780 shares of the company's stock worth $108,000 after buying an additional 1,794 shares during the last quarter. Geode Capital Management LLC raised its holdings in Sunrise Realty Trust by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 125,942 shares of the company's stock valued at $1,773,000 after acquiring an additional 1,887 shares in the last quarter. Bank of America Corp DE boosted its stake in Sunrise Realty Trust by 60.4% during the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company's stock valued at $73,000 after acquiring an additional 1,952 shares during the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in Sunrise Realty Trust during the 1st quarter worth $25,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Sunrise Realty Trust from $10.75 to $11.50 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Oppenheimer assumed coverage on Sunrise Realty Trust in a report on Thursday, April 17th. They issued an "outperform" rating and a $12.00 price target for the company. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $13.25.

Sunrise Realty Trust Price Performance

NASDAQ:SUNS traded down $0.17 during midday trading on Wednesday, reaching $9.77. 88,823 shares of the company traded hands, compared to its average volume of 116,097. The firm has a market capitalization of $131.11 million and a price-to-earnings ratio of 9.67. The company has a fifty day moving average price of $10.74 and a 200 day moving average price of $10.83. Sunrise Realty Trust, Inc. has a twelve month low of $7.80 and a twelve month high of $15.74.

Sunrise Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.3%. The ex-dividend date of this dividend was Monday, June 30th. Sunrise Realty Trust's dividend payout ratio (DPR) is 118.81%.

Insider Buying and Selling at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum purchased 6,000 shares of the business's stock in a transaction dated Monday, June 16th. The shares were bought at an average price of $10.86 per share, with a total value of $65,160.00. Following the completion of the acquisition, the chairman owned 2,825,034 shares in the company, valued at approximately $30,679,869.24. This represents a 0.21% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have bought 26,000 shares of company stock valued at $273,860.

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.