Insider Buying: Sunrise Realty Trust (NASDAQ:SUNS) Chairman Purchases 20,000 Shares

Key Points

• Insider buying: Chairman Leonard Tannenbaum purchased 20,000 Sunrise Realty Trust shares at $7.60 each, increasing his stake by 0.65% to 3.09 million shares.
• Stock and earnings: SUNS recently traded near $7.50, close to its 52-week low, while quarterly EPS of $0.29 narrowly missed estimates despite revenue exceeding expectations.
• Dividend and analyst view: The company pays a $0.30 quarterly dividend, representing a 16% yield, but its payout ratio exceeds 100%. Analysts’ consensus rating remains “Reduce,” with an $8.00 price target.

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard Tannenbaum bought 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average price of $7.60 per share, with a total value of $152,000.00. Following the completion of the purchase, the chairman directly owned 3,092,719 shares in the company, valued at $23,504,664.40. The trade was a 0.65% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Sunrise Realty Trust Stock Performance

Sunrise Realty Trust stock traded down $0.01 during midday trading on Thursday, reaching $7.50. 258,009 shares of the company's stock were exchanged, compared to its average volume of 100,665. The stock's 50-day simple moving average is $8.17 and its 200 day simple moving average is $8.37. The firm has a market cap of $101.40 million, a price-to-earnings ratio of 7.73, a P/E/G ratio of 0.57 and a beta of 1.02. Sunrise Realty Trust, Inc. has a 52 week low of $7.34 and a 52 week high of $11.78.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Sunrise Realty Trust had a return on equity of 8.24% and a net margin of 53.33%.The business had revenue of $8.56 million for the quarter, compared to the consensus estimate of $7.17 million. Research analysts forecast that Sunrise Realty Trust, Inc. will post 1.2 earnings per share for the current year.

Sunrise Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 16.0%. The ex-dividend date was Tuesday, June 30th. Sunrise Realty Trust's payout ratio is currently 123.71%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Sunrise Realty Trust by 90.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company's stock worth $67,000 after buying an additional 2,880 shares in the last quarter. Bank of America Corp DE grew its stake in shares of 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 acquiring an additional 1,952 shares in the last quarter. Hsbc Holdings PLC bought a new position in Sunrise Realty Trust during the first quarter worth about $87,000. Wells Fargo & Company MN increased its position in Sunrise Realty Trust by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 11,394 shares of the company's stock worth $107,000 after acquiring an additional 3,602 shares during the period. Finally, Rhumbline Advisers raised its stake in Sunrise Realty Trust by 22.5% in the 1st quarter. Rhumbline Advisers now owns 9,780 shares of the company's stock worth $108,000 after purchasing an additional 1,794 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings cut shares of Sunrise Realty Trust from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, July 16th. Zacks Research raised shares of Sunrise Realty Trust from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 28th. Wall Street Zen upgraded shares of Sunrise Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods boosted their price objective on Sunrise Realty Trust from $7.75 to $8.00 and gave the stock a "market perform" rating in a report on Monday, May 18th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $8.00.

About Sunrise Realty Trust

Sunrise Realty Trust is a real estate investment trust (REIT) that focuses on acquiring, owning and leasing convenience store and fuel retail properties under long-term net leases. The company targets sale-leaseback transactions and joint-venture investments with high-credit tenants in the convenience retail sector. Sunrise Realty Trust's portfolio comprises single-tenant properties that benefit from predictable cash flows, structured lease agreements and tenant-driven site improvements, providing exposure to a segment of the retail real estate market that aligns closely with consumer essentials.

The company's primary business activities include sourcing and underwriting new property investments, negotiating sale-leaseback and ground lease transactions, and managing asset performance throughout the lease term.

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