Short Interest in Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Drops By 60.7%

Key Points

• Short interest in Sunrise Realty Trust plunged 60.7% in June to 274,493 shares, or about 2.8% of the float. The current short-interest ratio stands at 1.2 days based on average trading volume.
• Analyst sentiment remains weak overall, with a consensus rating of "Sell" and an average price target of $8.00. Recent moves included a Zacks downgrade to strong sell, while other firms made mixed rating and target adjustments.
• The company recently beat earnings expectations, reporting $0.35 EPS versus $0.29 expected and revenue of $10.27 million. It also announced a quarterly dividend of $0.30 per share, equal to a 14.9% annualized yield.

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) saw a large decline in short interest in June. As of June 30th, there was short interest totaling 274,493 shares, a decline of 60.7% from the June 15th total of 697,958 shares. Approximately 2.8% of the company's stock are sold short. Based on an average daily volume of 231,794 shares, the short-interest ratio is presently 1.2 days.

Analyst Ratings Changes

Several brokerages have issued reports on SUNS. Weiss Ratings raised shares of Sunrise Realty Trust from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, June 26th. Keefe, Bruyette & Woods increased their price target on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the company a "market perform" rating in a report on Monday, May 18th. Zacks Research downgraded shares of Sunrise Realty Trust from a "hold" rating to a "strong sell" rating in a research report on Monday, June 29th. Finally, Wall Street Zen upgraded shares of Sunrise Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Sell" and an average target price of $8.00.

Sunrise Realty Trust Stock Performance

NASDAQ SUNS opened at $8.04 on Monday. Sunrise Realty Trust has a one year low of $7.34 and a one year high of $11.78. The stock has a 50-day moving average of $8.22 and a 200 day moving average of $8.62. The company has a market capitalization of $108.68 million, a price-to-earnings ratio of 8.12, a PEG ratio of 0.61 and a beta of 1.02.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. Sunrise Realty Trust had a net margin of 54.82% and a return on equity of 8.33%. The business had revenue of $10.27 million for the quarter, compared to analysts' expectations of $6.18 million. On average, equities analysts predict that Sunrise Realty Trust will post 1.2 earnings per share for the current fiscal year.

Sunrise Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.20 dividend on an annualized basis and a yield of 14.9%. Sunrise Realty Trust's dividend payout ratio is 121.21%.

Institutional Investors Weigh In On Sunrise Realty Trust

Large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 buying an additional 2,880 shares during the period. Bank of America Corp DE grew its holdings 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 worth $73,000 after acquiring an additional 1,952 shares during the period. Hsbc Holdings PLC purchased a new stake in Sunrise Realty Trust during the first quarter valued at $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 valued at $107,000 after acquiring an additional 3,602 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Sunrise Realty Trust by 22.5% during the first quarter. Rhumbline Advisers now owns 9,780 shares of the company's stock valued at $108,000 after acquiring an additional 1,794 shares during the last quarter.

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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