Short Interest in Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Declines By 60.7%

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 274,493 shares, a decrease of 60.7% from the June 15th total of 697,958 shares. Based on an average daily volume of 231,794 shares, the short-interest ratio is currently 1.2 days. Approximately 2.8% of the shares of the company are sold short.

Analyst Ratings Changes

Several brokerages recently issued reports on SUNS. Zacks Research lowered shares of Sunrise Realty Trust from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Keefe, Bruyette & Woods increased their price target on shares of Sunrise Realty Trust from $7.75 to $8.00 and gave the stock a “market perform” rating in a research report on Monday, May 18th. Weiss Ratings upgraded shares of Sunrise Realty Trust from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. Finally, Wall Street Zen raised shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Sell” and an average target price of $8.00.

Sunrise Realty Trust Stock Performance

Shares of SUNS stock opened at $8.04 on Monday. Sunrise Realty Trust has a 52-week low of $7.34 and a 52-week high of $11.78. The firm has a market capitalization of $108.68 million, a PE ratio of 8.12, a PEG ratio of 0.61 and a beta of 1.02. The stock has a fifty day simple moving average of $8.22 and a two-hundred day simple moving average of $8.62.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The business had revenue of $10.27 million for the quarter, compared to the consensus estimate of $6.18 million. Sunrise Realty Trust had a return on equity of 8.33% and a net margin of 54.82%. On average, sell-side analysts forecast that Sunrise Realty Trust will post 1.2 EPS for the current fiscal year.

Sunrise Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 14.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Sunrise Realty Trust’s dividend payout ratio (DPR) is 121.21%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Sunrise Realty Trust by 90.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,077 shares of the company’s stock worth $67,000 after purchasing an additional 2,880 shares during the period. Bank of America Corp DE raised its position in shares of 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 valued at $73,000 after buying an additional 1,952 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Sunrise Realty Trust during the first quarter valued at approximately $87,000. Wells Fargo & Company MN lifted its holdings in shares of Sunrise Realty Trust by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,394 shares of the company’s stock worth $107,000 after buying an additional 3,602 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Sunrise Realty Trust by 22.5% in the first quarter. Rhumbline Advisers now owns 9,780 shares of the company’s stock worth $108,000 after buying an additional 1,794 shares in the last quarter.

Sunrise Realty Trust Company Profile

Sunrise Realty Trust is a real estate investment trust (REIT) that focuses on acquiring, owning and leasing convenience store and fuel retail properties under long-term net leases. The company targets sale-leaseback transactions and joint-venture investments with high-credit tenants in the convenience retail sector. Sunrise Realty Trust’s portfolio comprises single-tenant properties that benefit from predictable cash flows, structured lease agreements and tenant-driven site improvements, providing exposure to a segment of the retail real estate market that aligns closely with consumer essentials.

The company’s primary business activities include sourcing and underwriting new property investments, negotiating sale-leaseback and ground lease transactions, and managing asset performance throughout the lease term.