193,486 Shares in Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Bought by Pacific Ridge Capital Partners LLC

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) in the 1st quarter, according to its most recent 13F filing 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 institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Sunrise Realty Trust by 97.6% during the 4th quarter. JPMorgan Chase & Co. now owns 21,280 shares of the company's stock worth $300,000 after purchasing an additional 10,511 shares in the last quarter. Geode Capital Management LLC grew its stake in Sunrise Realty Trust by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 125,942 shares of the company's stock worth $1,773,000 after purchasing an additional 1,887 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Sunrise Realty Trust during the 4th quarter worth $594,000. 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 worth $120,000 after purchasing an additional 1,092 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Sunrise Realty Trust during the 4th quarter worth $475,000.

Sunrise Realty Trust Price Performance

NASDAQ:SUNS traded up $0.06 during trading hours on Monday, reaching $9.93. 90,373 shares of the company traded hands, compared to its average volume of 52,855. The firm's 50-day moving average is $10.76 and its 200-day moving average is $10.84. The stock has a market cap of $133.26 million and a P/E ratio of 9.83. Sunrise Realty Trust, Inc. has a 1-year low of $7.80 and a 1-year high of $15.74.

Sunrise Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, June 30th. This represents a $1.20 annualized dividend and a dividend yield of 12.1%. Sunrise Realty Trust's dividend payout ratio (DPR) is 118.81%.

Analysts Set New Price Targets

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

Insider Activity

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum acquired 6,000 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were acquired at an average price of $10.86 per share, for a total transaction of $65,160.00. Following the completion of the acquisition, the chairman directly owned 2,825,034 shares of the company's stock, valued at $30,679,869.24. This trade represents a 0.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired a total of 26,000 shares of company stock worth $273,860 in the last 90 days.

About Sunrise Realty Trust

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.