Charles Schwab Investment Management Inc. Purchases 12,000 Shares of Sunrise Realty Trust, Inc. $SUNS

Charles Schwab Investment Management Inc. grew its holdings in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) by 74.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,067 shares of the company’s stock after buying an additional 12,000 shares during the period. Charles Schwab Investment Management Inc. owned 0.21% of Sunrise Realty Trust worth $311,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in 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 acquiring an additional 1,794 shares in the last quarter. Pacific Ridge Capital Partners LLC purchased a new stake in Sunrise Realty Trust in the first quarter worth about $2,142,000. Bank of New York Mellon Corp increased its position in Sunrise Realty Trust by 31.0% in the first quarter. Bank of New York Mellon Corp now owns 27,609 shares of the company’s stock worth $306,000 after buying an additional 6,538 shares in the last quarter. Barclays PLC boosted its stake in shares of Sunrise Realty Trust by 14.8% in the fourth quarter. Barclays PLC now owns 8,484 shares of the company’s stock worth $120,000 after acquiring an additional 1,092 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Sunrise Realty Trust by 353.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock worth $41,000 after acquiring an additional 2,279 shares during the period.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods dropped their price objective on Sunrise Realty Trust from $11.50 to $11.25 and set an “outperform” rating for the company in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $13.19.

Insider Buying and Selling at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum purchased 32,275 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average price of $10.48 per share, for a total transaction of $338,242.00. Following the purchase, the chairman directly owned 2,878,209 shares in the company, valued at approximately $30,163,630.32. This trade represents a 1.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders bought 99,786 shares of company stock worth $1,054,538.

Sunrise Realty Trust Price Performance

Sunrise Realty Trust stock opened at $11.10 on Thursday. The stock has a market capitalization of $148.96 million, a price-to-earnings ratio of 10.67, a PEG ratio of 0.87 and a beta of 1.05. Sunrise Realty Trust, Inc. has a 1-year low of $7.80 and a 1-year high of $15.74. The business has a fifty day moving average price of $10.66 and a 200-day moving average price of $10.67.

Sunrise Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.30 per share. The ex-dividend date was Monday, June 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.8%. Sunrise Realty Trust’s dividend payout ratio (DPR) is presently 115.38%.

Sunrise Realty Trust Profile

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.