Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Acquires 6,000 Shares

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard M. Tannenbaum bought 6,000 shares of the firm's stock in a transaction on Monday, June 16th. The stock was purchased at an average cost of $10.86 per share, for a total transaction of $65,160.00. Following the completion of the acquisition, the chairman now owns 2,825,034 shares in the company, valued at approximately $30,679,869.24. This trade represents a 0.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Sunrise Realty Trust Stock Up 0.3%

NASDAQ SUNS traded up $0.03 on Friday, hitting $10.92. The company's stock had a trading volume of 48,897 shares, compared to its average volume of 130,030. The company's 50-day moving average is $10.38 and its 200 day moving average is $11.58. The firm has a market cap of $146.55 million and a PE ratio of 10.81. Sunrise Realty Trust, Inc. has a 1-year low of $7.80 and a 1-year high of $15.74.

Sunrise Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.20 annualized dividend and a yield of 10.99%. Sunrise Realty Trust's payout ratio is 118.81%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Raymond James Financial decreased their price target on Sunrise Realty Trust from $15.00 to $14.50 and set an "outperform" rating on the stock in a research note on Monday, March 10th. Oppenheimer initiated coverage on shares of Sunrise Realty Trust in a research note on Thursday, April 17th. They set an "outperform" rating and a $12.00 target price on the stock. Finally, Keefe, Bruyette & Woods cut their price objective on Sunrise Realty Trust from $12.25 to $10.75 and set an "outperform" rating on the stock in a report on Monday, April 7th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $13.06.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. acquired a new position in shares of Sunrise Realty Trust during the first quarter valued at about $25,000. Tower Research Capital LLC TRC raised its stake in 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 worth $41,000 after buying an additional 2,279 shares during the period. Corebridge Financial Inc. boosted its holdings in Sunrise Realty Trust by 82.4% in the first quarter. Corebridge Financial Inc. now owns 5,117 shares of the company's stock worth $57,000 after acquiring an additional 2,312 shares in the last quarter. Bank of America Corp DE boosted 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 worth $73,000 after acquiring an additional 1,952 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Sunrise Realty Trust by 90.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company's stock valued at $67,000 after acquiring an additional 2,880 shares during the period.

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.