Leonard M. Tannenbaum Acquires 5,122 Shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Stock

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

Sunrise Realty Trust Stock Down 0.2 %

Shares of NASDAQ:SUNS traded down $0.02 on Friday, hitting $10.81. The company had a trading volume of 67,358 shares, compared to its average volume of 105,324. Sunrise Realty Trust, Inc. has a 52-week low of $7.80 and a 52-week high of $15.74. The business has a 50 day moving average of $10.45 and a 200 day moving average of $12.51.

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

Sunrise Realty Trust Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors 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 dividend on an annualized basis and a yield of 11.10%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SUNS. Bank of New York Mellon Corp grew its stake in shares of Sunrise Realty Trust by 31.0% during the 1st quarter. Bank of New York Mellon Corp now owns 27,609 shares of the company's stock valued at $306,000 after buying an additional 6,538 shares during the period. Rhumbline Advisers lifted its stake in shares of Sunrise Realty Trust by 22.5% in the 1st quarter. Rhumbline Advisers now owns 9,780 shares of the company's stock valued at $108,000 after purchasing an additional 1,794 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Sunrise Realty Trust by 60.4% during the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company's stock worth $73,000 after purchasing an additional 1,952 shares during the period. Castalian Partners LLC acquired a new stake in Sunrise Realty Trust during the 4th quarter worth approximately $2,709,000. Finally, Tower Research Capital LLC TRC increased its position 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SUNS. Oppenheimer began coverage on shares of Sunrise Realty Trust in a research report on Thursday, April 17th. They set an "outperform" rating and a $12.00 price target for the company. B. Riley initiated coverage on Sunrise Realty Trust in a research note on Thursday, February 13th. They set a "buy" rating and a $15.00 price target for the company. Raymond James dropped their target price on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an "outperform" rating for the company in a report on Monday, March 10th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Sunrise Realty Trust from $12.25 to $10.75 and set an "outperform" rating for the company in a research report on Monday, April 7th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus 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.