Philadelphia Financial Management of San Francisco LLC Invests $6.63 Million in Sunrise Realty Trust, Inc. $SUNS

Key Points

• Philadelphia Financial Management of San Francisco LLC has acquired a new stake in Sunrise Realty Trust, purchasing 598,865 shares valued at approximately $6.6 million, making it the fund's 29th largest holding.
• Sunrise Realty Trust announced a quarterly dividend of $0.30, which yields approximately 11.1% annually, despite a dividend payout ratio exceeding 115%.
• Analysts have mixed ratings on Sunrise Realty Trust, with a consensus rating of "Buy" and a target price set at $13.19, down from a previous estimate of $11.50.

Philadelphia Financial Management of San Francisco LLC acquired a new stake in Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 598,865 shares of the company's stock, valued at approximately $6,629,000. Sunrise Realty Trust accounts for about 1.3% of Philadelphia Financial Management of San Francisco LLC's portfolio, making the stock its 29th largest position. Philadelphia Financial Management of San Francisco LLC owned about 4.46% of Sunrise Realty Trust at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SUNS. PNC Financial Services Group Inc. acquired a new stake in shares of Sunrise Realty Trust during the first quarter worth $25,000. Tower Research Capital LLC TRC increased its holdings in shares of Sunrise Realty Trust by 353.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company's stock worth $41,000 after buying an additional 2,279 shares in the last quarter. Corebridge Financial Inc. boosted its stake in shares of Sunrise Realty Trust by 82.4% during the first quarter. Corebridge Financial Inc. now owns 5,117 shares of the company's stock valued at $57,000 after purchasing an additional 2,312 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Sunrise Realty Trust by 90.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company's stock worth $67,000 after acquiring an additional 2,880 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Sunrise Realty Trust by 60.4% in the fourth quarter. Bank of America Corp DE now owns 5,183 shares of the company's stock valued at $73,000 after purchasing an additional 1,952 shares during the period.

Sunrise Realty Trust Price Performance

Shares of NASDAQ SUNS traded up $0.07 during trading on Tuesday, reaching $11.04. 39,070 shares of the stock traded hands, compared to its average volume of 53,791. The stock has a market capitalization of $148.16 million, a P/E ratio of 9.71, a price-to-earnings-growth ratio of 0.87 and a beta of 1.05. Sunrise Realty Trust, Inc. has a 52-week low of $7.80 and a 52-week high of $15.74. The company has a 50-day moving average of $10.66 and a 200-day moving average of $10.64.

Sunrise Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend 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%.

Insider Transactions at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum bought 32,275 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $10.48 per share, with a total value of $338,242.00. Following the completion of the purchase, the chairman owned 2,878,209 shares of the company's stock, valued at approximately $30,163,630.32. This trade represents a 1.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 99,786 shares of company stock worth $1,054,538.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lowered their target price on shares of Sunrise Realty Trust from $11.50 to $11.25 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $13.19.

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.