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Sunrise Realty Trust director James Fagan buys $52,951 in stock

Published 23/12/2024, 22:10
Sunrise Realty Trust director James Fagan buys $52,951 in stock
SUNS
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Additionally, Fagan was granted 761 shares of restricted stock under the company’s Stock Incentive Plan, which will vest on December 19, 2025. Following these transactions, Fagan holds 10,593 shares directly and 8,840 shares indirectly through Civic Reserve LLC, a company owned by Fagan and his spouse. The insider purchase follows SUNS’s impressive 25% price gain over the past six months. InvestingPro subscribers can access additional insights, including 7 more key tips about SUNS’s financial outlook. The insider purchase follows SUNS’s impressive 25% price gain over the past six months. InvestingPro subscribers can access additional insights, including 7 more key tips about SUNS’s financial outlook.

Additionally, Fagan was granted 761 shares of restricted stock under the company’s Stock Incentive Plan, which will vest on December 19, 2025. Following these transactions, Fagan holds 10,593 shares directly and 8,840 shares indirectly through Civic Reserve LLC, a company owned by Fagan and his spouse.

In other recent news, Sunrise Realty Trust, Inc. has secured two significant credit facilities. The real estate investment trust entered into a $75 million unsecured revolving credit agreement with SRT Finance LLC, a lender indirectly owned by company executives and their family members. This credit line carries an 8% annual interest rate and is set to mature on May 31, 2028. Additionally, the company has secured a separate $50 million credit agreement with the same lender, bearing an interest rate set at 1 month SOFR with a 3.0% floor, plus a margin of 2.75%, and scheduled to mature on December 31, 2025. Both credit facilities allow Sunrise Realty Trust to borrow, repay, and redraw funds, providing flexible capital for their operations. These recent developments indicate the company’s ongoing efforts to manage its capital structure and support its growth initiatives. The details of these agreements were made public through 8-K filings with the Securities and Exchange Commission.

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