Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Purchases 5,122 Shares

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard M. Tannenbaum bought 5,122 shares of the business's stock in a transaction dated Monday, April 28th. The stock was acquired at an average price of $10.30 per share, for a total transaction of $52,756.60. Following the purchase, the chairman now directly owns 2,729,313 shares in the company, valued at approximately $28,111,923.90. The trade was a 0.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Sunrise Realty Trust Trading Up 1.2 %

SUNS traded up $0.13 during trading hours on Friday, hitting $10.96. The stock had a trading volume of 15,027 shares, compared to its average volume of 105,077. Sunrise Realty Trust, Inc. has a 1 year low of $7.80 and a 1 year high of $15.74. The company's fifty day simple moving average is $10.47 and its 200 day simple moving average is $12.56.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $3.45 million during the quarter, compared to the consensus estimate of $3.25 million. As a group, research analysts forecast that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current year.

Sunrise Realty Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.30 per share. The ex-dividend date was Monday, March 31st. This represents a $1.20 annualized dividend and a dividend yield of 10.95%.

Hedge Funds Weigh In On Sunrise Realty Trust

Several hedge funds have recently made changes to their positions in SUNS. Tower Research Capital LLC TRC lifted its holdings 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 purchasing an additional 2,279 shares in the last quarter. Bank of America Corp DE lifted 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 buying an additional 1,952 shares in the last quarter. Barclays PLC bought a new position in shares of Sunrise Realty Trust in the third quarter valued at approximately $106,000. Rhumbline Advisers grew its stake 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 in the last quarter. Finally, Spire Wealth Management bought a new stake in Sunrise Realty Trust during the 4th quarter worth approximately $137,000.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SUNS shares. 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 research report on Monday, April 7th. Oppenheimer assumed coverage on shares of Sunrise Realty Trust in a report on Thursday, April 17th. They issued an "outperform" rating and a $12.00 price target on the stock. Raymond James lowered 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, B. Riley initiated coverage on shares of Sunrise Realty Trust in a research note on Thursday, February 13th. They issued a "buy" rating and a $15.00 target price on the stock. One investment 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target 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.