Sunrise Realty Trust (NASDAQ:SUNS) Chairman Leonard Tannenbaum Buys 50,000 Shares

Key Points

• Chairman Leonard Tannenbaum purchased 50,000 SUNS shares at $7.50 each, investing $375,000 and increasing his direct ownership to 3.14 million shares.
• Sunrise Realty Trust reported quarterly revenue of $8.56 million, exceeding estimates, but EPS of $0.29 narrowly missed the $0.30 consensus forecast.
• The company pays a quarterly dividend of $0.30 per share, equating to a 15.5% annualized yield; analysts maintain a generally cautious outlook with a consensus “Reduce” rating and an $8.00 price target.

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard Tannenbaum bought 50,000 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of $7.50 per share, with a total value of $375,000.00. Following the purchase, the chairman directly owned 3,142,719 shares of the company's stock, valued at approximately $23,570,392.50. This represents a 1.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Sunrise Realty Trust Stock Performance

Shares of SUNS traded up $0.01 during mid-day trading on Monday, hitting $7.76. 84,185 shares of the company were exchanged, compared to its average volume of 101,216. Sunrise Realty Trust, Inc. has a 1-year low of $7.34 and a 1-year high of $11.78. The company has a 50 day moving average of $8.13 and a 200-day moving average of $8.35. The stock has a market cap of $104.92 million, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 0.59 and a beta of 1.02.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Sunrise Realty Trust had a return on equity of 8.25% and a net margin of 53.33%.The firm had revenue of $8.56 million during the quarter, compared to analyst estimates of $7.17 million. Research analysts anticipate that Sunrise Realty Trust, Inc. will post 1.2 earnings per share for the current fiscal year.

Sunrise Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 15.5%. The ex-dividend date was Tuesday, June 30th. Sunrise Realty Trust's payout ratio is presently 123.71%.

Institutional Trading of Sunrise Realty Trust

Several large investors have recently added to or reduced their stakes in SUNS. Bank of America Corp DE raised 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 acquiring an additional 1,952 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Sunrise Realty Trust by 90.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company's stock worth $67,000 after buying an additional 2,880 shares during the period. Rhumbline Advisers boosted its position in shares of Sunrise Realty Trust by 22.5% during the 1st quarter. Rhumbline Advisers now owns 9,780 shares of the company's stock worth $108,000 after purchasing an additional 1,794 shares during the period. Hsbc Holdings PLC acquired a new position in Sunrise Realty Trust during the second quarter worth $133,000. Finally, Wells Fargo & Company MN boosted its position in shares of Sunrise Realty Trust by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 11,394 shares of the company's stock worth $107,000 after buying an additional 3,602 shares during the period.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Zacks Research raised shares of Sunrise Realty Trust from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods raised their price target on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the stock a "market perform" rating in a research note on Monday, May 18th. Weiss Ratings lowered shares of Sunrise Realty Trust from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, July 16th. Finally, Wall Street Zen raised shares of Sunrise Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $8.00.

About Sunrise Realty Trust

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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