Insider Buying: Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Buys 6,000 Shares of Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard M. Tannenbaum purchased 6,000 shares of the company's stock in a transaction on Monday, June 16th. The stock was acquired at an average cost of $10.86 per share, for a total transaction of $65,160.00. Following the completion of the purchase, the chairman now owns 2,825,034 shares of the company's stock, valued at approximately $30,679,869.24. This trade represents a 0.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sunrise Realty Trust Stock Performance

SUNS traded down $0.25 during midday trading on Tuesday, reaching $10.69. 56,895 shares of the company were exchanged, compared to its average volume of 100,441. The company has a market cap of $143.47 million and a price-to-earnings ratio of 10.58. Sunrise Realty Trust, Inc. has a one year low of $7.80 and a one year high of $15.74. The company's fifty day moving average price is $10.25 and its 200 day moving average price is $11.62.

Sunrise Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 11.23%. Sunrise Realty Trust's dividend payout ratio (DPR) is currently 118.81%.

Institutional Investors Weigh In On Sunrise Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of SUNS. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Sunrise Realty Trust in the 1st quarter worth $6,629,000. Raymond James Financial Inc. bought a new stake in Sunrise Realty Trust during the first quarter worth $3,337,000. Pacific Ridge Capital Partners LLC bought a new stake in Sunrise Realty Trust during the first quarter worth $2,142,000. Castalian Partners LLC purchased a new position in Sunrise Realty Trust in the fourth quarter worth $2,709,000. Finally, Acadian Asset Management LLC bought a new position in Sunrise Realty Trust in the 1st quarter valued at $1,450,000.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SUNS shares. Keefe, Bruyette & Woods dropped their target price on shares of Sunrise Realty Trust from $12.25 to $10.75 and set an "outperform" rating on the stock in a research report on Monday, April 7th. Raymond James cut their price objective on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an "outperform" rating on the stock in a research report on Monday, March 10th. Finally, Oppenheimer initiated coverage on Sunrise Realty Trust in a research note on Thursday, April 17th. They issued an "outperform" rating and a $12.00 target price for the company. One 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 currently has a consensus rating of "Buy" and an average target price of $13.06.

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.

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