Sunrise Realty Trust executive chairman Leonard Tannenbaum purchases $292,038 in stock

Leonard M. Tannenbaum, the Executive Chairman of Sunrise Realty Trust , Inc. (NASDAQ:SUNS), has made a notable transaction involving the company’s stock. According to a recent SEC filing, Tannenbaum acquired 25,959 shares of common stock on March 26, 2025. The shares were purchased at an average price of $11.25 per share, totaling approximately $292,038. The purchase comes as the stock trades significantly below its 52-week high of $15.74, with InvestingPro data showing analyst price targets ranging from $12.25 to $15.00.

Following this acquisition, Tannenbaum’s direct ownership of Sunrise Realty Trust stock increased to 2,649,762 shares. Additionally, Tannenbaum holds indirect ownership of various shares through trusts and family foundations, as detailed in the filing’s footnotes. These include holdings in the Tannenbaum Family Foundation and the Sunny 5 Irrevocable Trust, among others.

The transaction reflects Tannenbaum’s continued investment in Sunrise Realty Trust, where he plays a significant role as both an executive and a major shareholder.

In other recent news, Sunrise Realty Trust reported its fourth-quarter 2024 earnings, surpassing Wall Street expectations with an EPS of $0.27. The company also reported a revenue of $3.4 million, aligning with its net interest income. Despite the positive earnings report, analysts from Keefe, Bruyette & Woods and Raymond (NSE:RYMD) James adjusted their price targets for Sunrise Realty Trust. Keefe, Bruyette & Woods reduced the target to $12.25 from $12.75 but maintained an Outperform rating, citing a positive outlook for future earnings and dividends. Raymond James also lowered their target to $14.50 from $15.00, maintaining an Outperform rating while expressing optimism about the company’s potential for strong portfolio returns.

Sunrise Realty Trust’s dividend was set at $0.30 per share for Q1 2025, which is lower than some analysts’ expectations but reflects the company’s strategic adjustments following a recent equity raise. The company successfully completed a $77 million equity raise in January 2025, which is expected to support its ongoing investment activities. Additionally, Sunrise Realty Trust’s book value per share was reported at $13.93 after the equity raise. Analysts have noted that the company’s loan originations and funded commitments continue to grow, particularly in the Southern U.S. markets like Florida and Texas, which are key areas of focus for the company. These developments reflect the company’s strategic positioning and ongoing efforts to enhance its investment portfolio amidst evolving market conditions.

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