Sunrise Realty Trust, Inc. (SUNS) To Go Ex-Dividend on March 31st

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) announced a quarterly dividend on Tuesday, March 4th, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.30 per share on Tuesday, April 15th. This represents a $1.20 annualized dividend and a dividend yield of 10.70%. The ex-dividend date is Monday, March 31st.

Sunrise Realty Trust Stock Performance

Shares of SUNS traded down $0.08 during trading hours on Friday, reaching $11.21. The company had a trading volume of 154,336 shares, compared to its average volume of 101,424. The firm has a 50 day simple moving average of $11.66 and a 200-day simple moving average of $13.42. Sunrise Realty Trust has a 12-month low of $8.11 and a 12-month high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The firm had revenue of $3.45 million for the quarter, compared to analysts’ expectations of $3.25 million. Equities research analysts predict that Sunrise Realty Trust will post 0.58 earnings per share for the current fiscal year.

Insider Transactions at Sunrise Realty Trust

In other news, Chairman Leonard M. Tannenbaum acquired 25,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $11.06 per share, with a total value of $276,500.00. Following the completion of the purchase, the chairman now owns 2,469,282 shares of the company’s stock, valued at $27,310,258.92. This represents a 1.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have purchased 1,181,473 shares of company stock worth $14,026,626. 5.70% of the stock is currently owned by company insiders.

Institutional Trading of Sunrise Realty Trust

An institutional investor recently raised its position in Sunrise Realty Trust stock. Bank of America Corp DE lifted its stake in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) by 60.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,183 shares of the company’s stock after acquiring an additional 1,952 shares during the period. Bank of America Corp DE owned approximately 0.07% of Sunrise Realty Trust worth $73,000 at the end of the most recent quarter.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Raymond James reduced their target price on Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating on the stock in a report on Monday, March 10th. B. Riley assumed coverage on Sunrise Realty Trust in a report on Thursday, February 13th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Keefe, Bruyette & Woods cut their price objective on Sunrise Realty Trust from $12.75 to $12.25 and set an “outperform” rating for the company in a report on Monday, March 10th.

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.