Sunrise Realty Trust (SUNS) to Release Earnings on Thursday

Sunrise Realty Trust (NASDAQ:SUNS) is projected to announce its earnings results before the market opens on Thursday, February 6th. Analysts expect the company to announce earnings of $0.37 per share for the quarter.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its earnings results on Thursday, November 7th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $3.18 million for the quarter, compared to the consensus estimate of $2.50 million. On average, analysts expect Sunrise Realty Trust to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Sunrise Realty Trust Stock Up 1.5 %

Shares of SUNS stock opened at $11.87 on Wednesday. The business has a fifty day simple moving average of $13.54. Sunrise Realty Trust has a 52 week low of $8.11 and a 52 week high of $15.74.

Insider Transactions at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum acquired 1,000,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were acquired at an average price of $12.00 per share, for a total transaction of $12,000,000.00. Following the completion of the acquisition, the chairman now owns 2,434,213 shares in the company, valued at $29,210,556. This trade represents a 69.72 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders bought 1,087,429 shares of company stock valued at $13,171,696. Corporate insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James reaffirmed an “outperform” rating and set a $15.00 target price (down previously from $17.50) on shares of Sunrise Realty Trust in a research note on Monday.

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.