Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Buys 25,959 Shares of Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 25,959 shares of the stock in a transaction on Wednesday, March 26th. The stock was bought at an average price of $11.25 per share, for a total transaction of $292,038.75. Following the completion of the purchase, the chairman now directly owns 2,649,762 shares in the company, valued at approximately $29,809,822.50. The trade was a 0.99 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Sunrise Realty Trust Stock Down 1.4 %

Shares of SUNS opened at $11.29 on Friday. Sunrise Realty Trust, Inc. has a 52 week low of $8.11 and a 52 week high of $15.74. The company’s 50 day moving average price is $11.72 and its 200 day moving average price is $13.43.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its earnings results on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $3.45 million during the quarter, compared to analyst estimates of $3.25 million. As a group, equities research analysts anticipate that Sunrise Realty Trust, Inc. will post 0.58 earnings per share for the current year.

Sunrise Realty Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 10.63%. The ex-dividend date is Monday, March 31st.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. B. Riley initiated coverage on Sunrise Realty Trust in a research note on Thursday, February 13th. They issued a “buy” rating and a $15.00 price objective for the company. Keefe, Bruyette & Woods lowered their price target on Sunrise Realty Trust from $12.75 to $12.25 and set an “outperform” rating for the company in a research report on Monday, March 10th. Finally, Raymond James reduced their target price on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an “outperform” rating on the stock in a report on Monday, March 10th.

Institutional Investors Weigh In On Sunrise Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 valued at $73,000 after acquiring an additional 1,952 shares during the period. Castalian Partners LLC acquired a new stake in Sunrise Realty Trust during the 4th quarter worth approximately $2,709,000. Tower Research Capital LLC TRC raised its holdings in shares of Sunrise Realty Trust by 353.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock worth $41,000 after acquiring an additional 2,279 shares during the period. Marshall Wace LLP bought a new position in Sunrise Realty Trust during the 4th quarter worth about $475,000. Finally, Barclays PLC grew its holdings in shares of Sunrise Realty Trust by 14.8% during the fourth quarter. Barclays PLC now owns 8,484 shares of the company’s stock worth $120,000 after buying an additional 1,092 shares in 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.