Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Plans $0.30 Quarterly Dividend

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) declared a quarterly dividend on Friday, June 13th, RTT News reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.30 per share on Tuesday, July 15th. This represents a $1.20 annualized dividend and a yield of 10.91%.

Sunrise Realty Trust Stock Down 1.4%

Shares of SUNS stock traded down $0.16 during trading hours on Friday, reaching $11.00. The company's stock had a trading volume of 69,085 shares, compared to its average volume of 100,693. Sunrise Realty Trust has a fifty-two week low of $7.80 and a fifty-two week high of $15.74. The firm's 50 day simple moving average is $10.20 and its 200-day simple moving average is $11.70. The company has a market capitalization of $147.63 million and a price-to-earnings ratio of 10.89.

Insider Activity

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum purchased 80,514 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were bought at an average price of $11.26 per share, for a total transaction of $906,587.64. Following the completion of the acquisition, the chairman now owns 2,623,803 shares in the company, valued at approximately $29,544,021.78. This trade represents a 3.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have bought 286,927 shares of company stock valued at $3,143,540. 24.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its position in shares of Sunrise Realty Trust by 53.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 27,911 shares of the company's stock valued at $309,000 after buying an additional 9,732 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Sunrise Realty Trust in the first quarter worth approximately $139,000. Rhumbline Advisers boosted its holdings in Sunrise Realty Trust by 22.5% in 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 purchasing an additional 2,880 shares during the period. Finally, Bank of America Corp DE raised its holdings in 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 last quarter.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SUNS shares. Keefe, Bruyette & Woods reduced their price objective on Sunrise Realty Trust from $12.25 to $10.75 and set an "outperform" rating on the stock in a research note on Monday, April 7th. B. Riley began coverage on shares of Sunrise Realty Trust in a research note on Thursday, February 13th. They issued a "buy" rating and a $15.00 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 for the company in a research report on Monday, March 10th. Finally, Oppenheimer initiated coverage on shares of Sunrise Realty Trust in a research note on Thursday, April 17th. They issued an "outperform" rating and a $12.00 price objective for the company. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sunrise Realty Trust has an average rating of "Buy" and an average target price of $13.06.

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.