Philadelphia Financial Management of San Francisco LLC Makes New $6.63 Million Investment 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) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 598,865 shares of the company's stock, valued at approximately $6,629,000. Sunrise Realty Trust accounts for approximately 1.3% of Philadelphia Financial Management of San Francisco LLC's portfolio, making the stock its 29th biggest holding. Philadelphia Financial Management of San Francisco LLC owned approximately 4.46% of Sunrise Realty Trust at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new position in shares of Sunrise Realty Trust in the first quarter valued at about $25,000. Tower Research Capital LLC TRC boosted its stake in shares of Sunrise Realty Trust by 353.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company's stock valued at $41,000 after purchasing 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 1st 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. Bank of America Corp DE boosted its stake in shares of 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 purchasing an additional 1,952 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 valued at $67,000 after purchasing an additional 2,880 shares in the last quarter.

Sunrise Realty Trust Price Performance

NASDAQ:SUNS traded up $0.10 during mid-day trading on Thursday, hitting $11.13. 9,901 shares of the company's stock were exchanged, compared to its average volume of 107,449. The company has a market cap of $149.38 million, a PE ratio of 10.77, a P/E/G ratio of 0.87 and a beta of 1.05. Sunrise Realty Trust, Inc. has a one year low of $7.80 and a one year high of $15.74. The business has a fifty day moving average price of $10.66 and a 200 day moving average price of $10.64.

Sunrise Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.20 annualized dividend and a yield of 10.8%. Sunrise Realty Trust's payout ratio is 115.38%.

Analysts Set New Price Targets

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

Insider Transactions at Sunrise Realty Trust

In other 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 cost of $10.48 per share, with a total value of $338,242.00. Following the completion of the acquisition, the chairman owned 2,878,209 shares of the company's stock, valued at approximately $30,163,630.32. This represents a 1.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 99,786 shares of company stock valued at $1,054,538 over the last three months. 24.80% of the stock is currently owned by insiders.

Sunrise Realty Trust Company 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.