Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Purchases 17,495 Shares of Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum purchased 17,495 shares of the firm’s stock in a transaction dated Friday, March 28th. The shares were bought at an average cost of $11.17 per share, for a total transaction of $195,419.15. Following the completion of the purchase, the chairman now directly owns 2,667,257 shares of the company’s stock, valued at $29,793,260.69. The trade was a 0.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Sunrise Realty Trust Trading Down 1.5 %

NASDAQ:SUNS opened at $10.90 on Wednesday. The stock has a 50-day simple moving average of $11.60 and a 200 day simple moving average of $13.39. Sunrise Realty Trust, Inc. has a 52-week low of $8.11 and a 52-week high of $15.74.

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

Sunrise Realty Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, March 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 11.01%.

Hedge Funds Weigh In On Sunrise Realty Trust

Several hedge funds have recently modified their holdings of SUNS. Tower Research Capital LLC TRC boosted its position in 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 valued at $41,000 after purchasing an additional 2,279 shares during the last quarter. Bank of America Corp DE raised its stake 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 purchasing an additional 1,952 shares in the last quarter. Barclays PLC acquired a new stake in shares of Sunrise Realty Trust in the 3rd quarter valued at approximately $106,000. Spire Wealth Management bought a new position in shares of Sunrise Realty Trust in the fourth quarter valued at $137,000. Finally, JPMorgan Chase & Co. acquired a new position in Sunrise Realty Trust during the third quarter worth $155,000.

Wall Street Analyst Weigh In

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

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.