Leonard M. Tannenbaum Buys 25,000 Shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum acquired 25,000 shares of Sunrise Realty Trust stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $11.06 per share, for a total transaction of $276,500.00. Following the completion of the purchase, the chairman now directly owns 2,469,282 shares of the company’s stock, valued at approximately $27,310,258.92. The trade was a 1.02 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Sunrise Realty Trust Stock Performance

Shares of SUNS traded down $0.04 during mid-day trading on Monday, reaching $11.00. The stock had a trading volume of 138,355 shares, compared to its average volume of 94,703. The business has a fifty day moving average of $12.14 and a 200 day moving average of $13.60. Sunrise Realty Trust, Inc. has a 12 month low of $8.11 and a 12 month high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its 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 during the quarter, compared to analysts’ expectations of $3.25 million. Equities 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, March 31st. This represents a $1.20 annualized dividend and a yield of 10.91%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SUNS. Tower Research Capital LLC TRC grew its position in shares of Sunrise Realty Trust by 353.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock valued at $41,000 after acquiring an additional 2,279 shares during the period. Bank of America Corp DE increased its position in Sunrise Realty Trust by 60.4% during the fourth 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 during the last quarter. Barclays PLC acquired a new stake in Sunrise Realty Trust during the third quarter worth $106,000. Spire Wealth Management purchased a new stake in Sunrise Realty Trust in the 4th quarter valued at about $137,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Sunrise Realty Trust in the 3rd quarter worth approximately $155,000.

Analyst Ratings Changes

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