Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard M. Tannenbaum acquired 5,122 shares of the stock in a transaction dated Monday, April 28th. The stock was acquired at an average cost of $10.30 per share, with a total value of $52,756.60. Following the purchase, the chairman now owns 2,729,313 shares of the company's stock, valued at approximately $28,111,923.90. This trade represents a 0.19 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Sunrise Realty Trust Price Performance
NASDAQ:SUNS opened at $10.36 on Tuesday. The business's fifty day moving average price is $10.54 and its 200 day moving average price is $12.61. Sunrise Realty Trust, Inc. has a 12 month low of $7.80 and a 12 month high of $15.74.
Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $3.45 million for the quarter, compared to analysts' expectations of $3.25 million. As a group, equities research analysts predict that Sunrise Realty Trust, Inc. will post 0.58 EPS for the current year.
Sunrise Realty Trust Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 11.58%. The ex-dividend date was Monday, March 31st.
Hedge Funds Weigh In On Sunrise Realty Trust
Several hedge funds have recently made changes to their positions in SUNS. Castalian Partners LLC purchased a new position in shares of Sunrise Realty Trust during the fourth quarter worth about $2,709,000. Geode Capital Management LLC acquired a new stake in shares of Sunrise Realty Trust during the third quarter worth about $1,785,000. State Street Corp acquired a new stake in shares of Sunrise Realty Trust during the third quarter worth about $1,788,000. Renaissance Technologies LLC acquired a new stake in shares of Sunrise Realty Trust during the fourth quarter worth about $594,000. Finally, Marshall Wace LLP acquired a new stake in shares of Sunrise Realty Trust during the fourth quarter worth about $475,000.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Raymond James decreased their price target on shares of Sunrise Realty Trust from $15.00 to $14.50 and set an "outperform" rating for the company in a research note on Monday, March 10th. B. Riley started coverage on shares of Sunrise Realty Trust in a research report on Thursday, February 13th. They set a "buy" rating and a $15.00 price objective for the company. Oppenheimer initiated coverage on Sunrise Realty Trust in a report on Thursday, April 17th. They issued an "outperform" rating and a $12.00 target price on the stock. Finally, Keefe, Bruyette & Woods dropped their target price on Sunrise Realty Trust from $12.25 to $10.75 and set an "outperform" rating on the stock in a report on Monday, April 7th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Sunrise Realty Trust presently has a consensus rating of "Buy" and an average target price of $13.06.
Check Out Our Latest Analysis on Sunrise Realty Trust
About Sunrise Realty Trust
(
Get Free Report)
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.
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