Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Short Interest Down 20.6% in April

Key Points

• Short interest fell by 20.6% in April to 615,771 shares (about 6.1% of the stock) with a days-to-cover ratio of 5.6, indicating reduced bearish positioning.
• The company pays a generous quarterly dividend of $0.30 (annualized $1.20) implying a 15.9% yield
• Analysts hold a consensus "Sell" rating with a $8.75 price target after the company missed quarterly EPS estimates ($0.27 vs. $0.31); the stock trades at a PE of 8.02 and a market cap of about $102 million.

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) saw a large decrease in short interest in April. As of April 15th, there was short interest totaling 615,771 shares, a decrease of 20.6% from the March 31st total of 775,179 shares. Based on an average daily trading volume, of 110,820 shares, the days-to-cover ratio is presently 5.6 days. Currently, 6.1% of the company's stock are short sold.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SUNS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 worth $67,000 after purchasing an additional 2,880 shares in the last quarter. Bank of America Corp DE lifted its position in 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 purchasing an additional 1,952 shares during the period. Wells Fargo & Company MN lifted its position in Sunrise Realty Trust by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,394 shares of the company's stock worth $107,000 after purchasing an additional 3,602 shares during the period. Rhumbline Advisers boosted 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 worth $108,000 after buying an additional 1,794 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Sunrise Realty Trust by 12.5% during the fourth quarter. Royal Bank of Canada now owns 13,782 shares of the company's stock worth $130,000 after buying an additional 1,535 shares in the last quarter.

Sunrise Realty Trust Trading Up 1.6%

SUNS traded up $0.12 during trading on Thursday, hitting $7.54. The stock had a trading volume of 34,655 shares, compared to its average volume of 101,510. The company has a 50 day simple moving average of $8.36 and a 200-day simple moving average of $9.17. Sunrise Realty Trust has a 12 month low of $7.37 and a 12 month high of $11.78. The firm has a market cap of $101.94 million, a PE ratio of 8.02, a P/E/G ratio of 0.56 and a beta of 1.18.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last released its earnings results on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.04). Sunrise Realty Trust had a net margin of 56.29% and a return on equity of 7.70%. The business had revenue of $7.17 million during the quarter, compared to analyst estimates of $7.13 million. As a group, sell-side analysts anticipate that Sunrise Realty Trust will post 1.22 earnings per share for the current fiscal year.

Sunrise Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 15.9%. The ex-dividend date was Tuesday, March 31st. Sunrise Realty Trust's dividend payout ratio (DPR) is currently 127.66%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Weiss Ratings restated a "sell (d)" rating on shares of Sunrise Realty Trust in a report on Thursday, January 22nd. Zacks Research cut Sunrise Realty Trust from a "hold" rating to a "strong sell" rating in a research report on Tuesday, March 24th. Wall Street Zen lowered Sunrise Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, March 14th. Finally, Keefe, Bruyette & Woods cut their price target on Sunrise Realty Trust from $9.50 to $8.75 and set a "market perform" rating for the company in a research note on Wednesday, March 18th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Sell" and a consensus price target of $8.75.

Sunrise Realty Trust Company Profile

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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