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WEST PALM BEACH, FL—Leonard M. Tannenbaum, Executive Chairman of Sunrise Realty Trust , Inc. (NASDAQ:SUNS), made significant purchases of the company’s common stock, according to a recent SEC filing. On June 2, Tannenbaum acquired 28,500 shares at an average price of $10.59, and on June 3, he purchased an additional 9,077 shares at an average price of $10.88. The stock currently trades at $10.95, slightly above his purchase prices, and offers an attractive 11.4% dividend yield. The total value of these transactions amounted to approximately $400,572. Following these acquisitions, Tannenbaum holds over 2.8 million shares directly and indirectly, reflecting his continued confidence in the company’s prospects. According to InvestingPro data, analysts maintain a positive outlook on SUNS with a consensus target suggesting potential upside, while the company’s Financial Health score of 2.45 indicates fair overall condition. Additional insights and detailed analysis are available in the comprehensive Pro Research Report, part of InvestingPro’s coverage of over 1,400 US stocks.
In other recent news, Sunrise Realty Trust has reported stable earnings for the first quarter of 2025, with distributable earnings at $0.31 per share and net interest income totaling $4.6 million. The company declared a dividend of $0.30 per share, maintaining its consistent payout to shareholders. Total (EPA:TTEF) assets for the company were reported at $234.4 million, with total shareholder equity standing at $184.8 million. Additionally, Sunrise Realty Trust announced an expansion of its credit facility to $140 million, incorporating EverBank as a new lender with a $50 million commitment. This expansion is part of a strategy to support the company’s loan pipeline and general working capital needs. The credit facility remains expandable up to $200 million, indicating a potential for further growth. In terms of future expectations, the company plans to raise unsecured capital in the fourth quarter of 2025 and anticipates earnings growth in the latter half of the year and into 2026. Analyst firm Alliance Global Partners (NYSE:GLP) has noted the evolving loan pipeline as a key area of focus, emphasizing Sunrise Realty Trust’s strategy to capitalize on opportunities in the transitional real estate market.
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