Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Buys 7,869 Shares

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard M. Tannenbaum acquired 7,869 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average cost of $9.99 per share, with a total value of $78,611.31. Following the completion of the acquisition, the chairman now owns 2,719,191 shares in the company, valued at $27,164,718.09. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Sunrise Realty Trust Price Performance

Shares of SUNS traded down $0.02 during midday trading on Friday, reaching $10.81. The stock had a trading volume of 67,358 shares, compared to its average volume of 105,324. The company's 50-day moving average is $10.45 and its 200 day moving average is $12.51. Sunrise Realty Trust, Inc. has a 12-month low of $7.80 and a 12-month high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The company reported $0.30 earnings per share for the quarter, hitting analysts' consensus estimates of $0.30. The business had revenue of $3.45 million during the quarter, compared to the consensus estimate of $3.25 million. Equities analysts predict that Sunrise Realty Trust, Inc. will post 0.58 earnings per share for the current fiscal year.

Sunrise Realty Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 11.10%. The ex-dividend date was Monday, March 31st.

Analyst Upgrades and Downgrades

Several research analysts have commented on SUNS shares. Keefe, Bruyette & Woods cut their price target on shares of Sunrise Realty Trust from $12.25 to $10.75 and set an "outperform" rating for the company in a report on Monday, April 7th. Oppenheimer started coverage on Sunrise Realty Trust in a research note on Thursday, April 17th. They set an "outperform" rating and a $12.00 price objective for the company. B. Riley assumed coverage on Sunrise Realty Trust in a report on Thursday, February 13th. They issued a "buy" rating and a $15.00 price target on the stock. Finally, Raymond James dropped their price target on Sunrise Realty Trust from $15.00 to $14.50 and set an "outperform" rating for the company in a research report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Sunrise Realty Trust currently has a consensus rating of "Buy" and an average price target of $13.06.

Institutional Investors Weigh In On Sunrise Realty Trust

Institutional investors have recently bought and sold shares of the stock. State Street Corp bought a new stake in Sunrise Realty Trust in the third quarter valued at approximately $1,788,000. Barclays PLC bought a new stake in Sunrise Realty Trust during the 3rd quarter valued at $106,000. Geode Capital Management LLC purchased a new stake in Sunrise Realty Trust during the 3rd quarter valued at $1,785,000. JPMorgan Chase & Co. bought a new stake in Sunrise Realty Trust in the 3rd quarter worth $155,000. Finally, Spire Wealth Management purchased a new position in shares of Sunrise Realty Trust in the fourth quarter valued at about $137,000.

About Sunrise Realty Trust

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.