Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Announces — Dividend of $0.21

Posted by Tyrone Williams on Dec 29th, 2024

Sunrise Realty Trust, Inc. (NASDAQ:SUNS – Get Free Report) declared a — dividend on Friday, August 16th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.21 per share on Wednesday, January 15th. This represents a yield of 10.3%. The ex-dividend date is Tuesday, December 31st.

Sunrise Realty Trust Trading Up 2.7 %

Sunrise Realty Trust stock opened at $14.68 on Friday. The firm’s 50 day moving average is $14.38. Sunrise Realty Trust has a 1 year low of $8.11 and a 1 year high of $15.74.

Insiders Place Their Bets

In other news, Chairman Leonard M. Tannenbaum acquired 47,810 shares of the business’s stock in a transaction on Monday, December 16th. The shares were acquired at an average price of $13.39 per share, for a total transaction of $640,175.90. Following the completion of the transaction, the chairman now directly owns 1,318,573 shares of the company’s stock, valued at approximately $17,655,692.47. The trade was a 3.76 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 87,429 shares of company stock valued at $1,171,696 in the last quarter. 5.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Raymond James initiated coverage on shares of Sunrise Realty Trust in a report on Thursday, October 3rd. They set an “outperform” rating and a $17.50 price objective for the company.

Read 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.