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

Key Points

• Sunrise Realty Trust, Inc. has declared a quarterly dividend of $0.30 per share, set to be paid on October 15th to investors of record by September 30th, reflecting an annualized yield of 10.8%.
• The company's stock traded at $11.06, with a market capitalization of approximately $148.43 million and a P/E ratio of 10.63.
• Insider activity has increased, with Chairman Leonard M. Tannenbaum acquiring 10,000 shares, and institutional investors have recently increased their stakes in the company.

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) declared a quarterly dividend on Monday, September 15th. Investors of record on Tuesday, September 30th will be given a dividend of 0.30 per share on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date of this dividend is Tuesday, September 30th.

Sunrise Realty Trust Price Performance

NASDAQ SUNS traded down $0.21 on Monday, reaching $11.06. The stock had a trading volume of 52,595 shares, compared to its average volume of 106,987. The firm has a fifty day moving average of $10.66 and a two-hundred day moving average of $10.61. Sunrise Realty Trust has a 1-year low of $7.80 and a 1-year high of $15.74. The company has a market cap of $148.43 million, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.04.

Insider Activity

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum acquired 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was acquired at an average cost of $10.79 per share, for a total transaction of $107,900.00. Following the transaction, the chairman directly owned 2,923,226 shares in the company, valued at $31,541,608.54. This represents a 0.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders acquired 93,786 shares of company stock worth $989,378.

Institutional Trading of Sunrise Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. bought a new stake in shares of Sunrise Realty Trust during the 1st quarter worth $25,000. Nisa Investment Advisors LLC lifted its position in shares of Sunrise Realty Trust by 61.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,014 shares of the company's stock worth $33,000 after buying an additional 1,149 shares during the last quarter. Corebridge Financial Inc. raised its position in Sunrise Realty Trust by 82.4% in the first quarter. Corebridge Financial Inc. now owns 5,117 shares of the company's stock valued at $57,000 after purchasing an additional 2,312 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sunrise Realty Trust by 90.1% in the first 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 last quarter. Finally, Bank of America Corp DE raised 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 valued at $73,000 after purchasing an additional 1,952 shares during the last quarter.

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.

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