Insider Buying: Sunrise Realty Trust (NASDAQ:SUNS) Chairman Purchases 25,000 Shares of Stock

Key Points

• Insider buying: Chairman Leonard Tannenbaum purchased 25,000 SUNS shares at an average price of $7.79, increasing his direct stake to 3,072,719 shares.
• Stock and earnings performance: Shares fell 3.1% to $7.49, near their 52-week low. Quarterly EPS of $0.29 slightly missed estimates, although revenue of $8.56 million exceeded expectations.
• Dividend and analyst outlook: Sunrise Realty Trust pays a quarterly dividend of $0.30, equivalent to a 16% annualized yield, while analysts maintain a generally cautious outlook with an average “Reduce” rating and an $8.00 price target.

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard Tannenbaum purchased 25,000 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $7.79 per share, with a total value of $194,750.00. Following the acquisition, the chairman directly owned 3,072,719 shares of the company's stock, valued at $23,936,481.01. This represents a 0.82% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Sunrise Realty Trust Trading Down 3.1%

Shares of SUNS traded down $0.24 on Tuesday, reaching $7.49. 99,930 shares of the company's stock traded hands, compared to its average volume of 99,755. Sunrise Realty Trust, Inc. has a 52-week low of $7.34 and a 52-week high of $11.78. The stock has a market cap of $101.26 million, a PE ratio of 7.72, a PEG ratio of 0.59 and a beta of 1.02. The stock's 50 day simple moving average is $8.21 and its two-hundred day simple moving average is $8.40.

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

Sunrise Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.0%. The ex-dividend date was Tuesday, June 30th. Sunrise Realty Trust's dividend payout ratio (DPR) is 123.71%.

Institutional Investors Weigh In On Sunrise Realty Trust

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Sunrise Realty Trust during the second quarter worth about $1,038,000. Vanguard Group Inc. grew its holdings in shares of Sunrise Realty Trust by 19.2% in the third quarter. Vanguard Group Inc. now owns 588,554 shares of the company's stock valued at $6,115,000 after purchasing an additional 94,628 shares in the last quarter. GatePass Capital LLC bought a new stake in shares of Sunrise Realty Trust in the 1st quarter worth about $588,000. Corsair Capital Management L.P. increased its stake in Sunrise Realty Trust by 407.0% during the fourth quarter. Corsair Capital Management L.P. now owns 50,704 shares of the company's stock worth $478,000 after acquiring an additional 40,704 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Sunrise Realty Trust by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 252,711 shares of the company's stock worth $2,383,000 after buying an additional 19,565 shares during the last quarter.

Wall Street Analysts Forecast Growth

SUNS has been the topic of several recent research reports. Wall Street Zen raised shares of Sunrise Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Zacks Research upgraded Sunrise Realty Trust from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods increased their price target on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the stock a "market perform" rating in a research note on Monday, May 18th. Finally, Weiss Ratings lowered Sunrise Realty Trust from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, July 16th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price 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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