Insider Buying: Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Buys 25,959 Shares of Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum acquired 25,959 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were bought at an average price of $11.25 per share, with a total value of $292,038.75. Following the completion of the transaction, the chairman now owns 2,649,762 shares in the company, valued at $29,809,822.50. This represents a 0.99 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Sunrise Realty Trust Price Performance

Shares of Sunrise Realty Trust stock opened at $11.21 on Friday. Sunrise Realty Trust, Inc. has a twelve month low of $8.11 and a twelve month high of $15.74. The company’s fifty day moving average is $11.66 and its 200 day moving average is $13.42.

Sunrise Realty Trust (NASDAQ:SUNS) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $3.45 million during the quarter, compared to analyst estimates of $3.25 million. Analysts expect that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current year.

Sunrise Realty Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.70%.

Analyst Ratings Changes

SUNS has been the subject of several research analyst reports. Keefe, Bruyette & Woods lowered their price target on shares of Sunrise Realty Trust from $12.75 to $12.25 and set an “outperform” rating for the company in a report on Monday, March 10th. B. Riley began coverage on Sunrise Realty Trust in a report on Thursday, February 13th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Raymond James cut their price target on Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating on the stock in a research note on Monday, March 10th.

Institutional Investors Weigh In On Sunrise Realty Trust

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its holdings in Sunrise Realty Trust by 353.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock valued at $41,000 after buying an additional 2,279 shares during the period. Bank of America Corp DE raised its position in shares of Sunrise Realty Trust by 60.4% in 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 in the last quarter. Barclays PLC acquired a new position in shares of Sunrise Realty Trust in the 3rd quarter valued at about $106,000. Spire Wealth Management bought a new stake in shares of Sunrise Realty Trust during the 4th quarter valued at about $137,000. Finally, JPMorgan Chase & Co. acquired a new stake in Sunrise Realty Trust during the third quarter worth approximately $155,000.

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.