Aankondiging • 7h
Sunrise Realty Trust, Inc. (NasdaqCM:SUNS) agreed to acquire Southern Realty Trust Inc for $65.5 million. Sunrise Realty Trust, Inc. (NasdaqCM:SUNS) agreed to acquire Southern Realty Trust Inc for $65.5 million on August 5, 2026. Under the terms of the Merger Agreement, each share of SRT common stock will be converted into the right to receive (i) 1.45 shares of newly issued SUNS common stock (based on an exchange ratio that applies a 6.0% premium to SRT’s book value per share relative to SUNS’ book value per share as of June 30, 2026), and (ii) from SUNS Manager, as additional consideration, $0.05 per share in cash. SUNS expects to issue approximately 8.4 millionshares of common stock in the aggregate as stock consideration in the merger. Upon completion of the merger, existing SUNS stockholders are expected to own approximately 62% of the combined company and former SRT stockholders are expected to own approximately 38%. In accordance with the Merger Agreement, each outstanding share of unvested SRT restricted stock issued under the SRT 2024 Equity Incentive Plan (the “SRT Equity Plan”), held by individuals who will continue as service providers of SUNS and/or its subsidiaries following the Effective Time will (i) as of the Effective Time, be converted into a number of restricted shares of Company Common Stock equal to the Exchange Ratio (the “Restricted Share Conversion Shares”) and (ii) receive the Per Share Additional SUNS Manager Consideration (the “Restricted Cash Payment”). Following the closing, the combined company will continue to operate as Sunrise Realty Trust, Inc., trade on Nasdaq under the ticker symbol SUNS. In case of termination of transaction, Sunrise Realty Trust, Inc. will pay a termination fee of $3 million and seller will pay a termination fee of $2.25 million.
Brian Sedrish continuing to serve as Chief Executive Officer. At closing, the SUNS board of directors will be expanded to include one independent director designated by SRT, subject to approval by the SUNS board of directors.
The transaction is subject to approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by acquirer shareholders, approval of offer by acquirer board, approval of offer by target shareholders and lock-up agreement and the satisfaction of certain other customary closing conditions. The closing of the transaction is not subject to any financing conditions. The transaction is expected to close in the fourth quarter of 2026.
Oppenheimer & Co. Inc. acted as financial advisor for Sunrise Realty Trust, Inc. Jeffrey M. Keehn of Venable LLP acted as legal advisor for Sunrise Realty Trust, Inc. Robert K. Smith and Steven M. Haas of Hunton Andrews Kurth LLP acted as legal advisor for Sunrise Realty Trust, Inc. Zachary Swartz and S. Gregory Cope of Vinson & Elkins LLP acted as legal advisor for Southern Realty Trust Inc. Keefe, Bruyette & Woods, Inc. acted as financial advisor for Southern Realty Trust Inc. Oppenheimer & Co. Inc. acted as fairness opinion provider for Sunrise Realty Trust, Inc. Keefe, Bruyette & Woods, Inc. acted as fairness opinion provider for Southern Realty Trust Inc. Aankondiging • Jul 17
Sunrise Realty Trust, Inc. to Report Q2, 2026 Results on Aug 06, 2026 Sunrise Realty Trust, Inc. announced that they will report Q2, 2026 results Pre-Market on Aug 06, 2026 Declared Dividend • Jun 18
First quarter dividend of US$0.30 announced Dividend of US$0.30 is the same as last year. Ex-date: 30th June 2026 Payment date: 15th July 2026 Dividend yield will be 14%, which is higher than the industry average of 12%. Sustainability & Growth Dividend is not covered by earnings (122% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 35% to bring the payout ratio under control. EPS is expected to grow by 9.8% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio. Aankondiging • Jun 15
Sunrise Realty Trust Announces Dividend for the Second Quarter Ending June 30, 2026, Payable on July 15, 2026 The Board of Directors of Sunrise Realty Trust, Inc. declared a quarterly dividend of $0.30 per outstanding share of common stock for the quarter ending June 30, 2026. The dividend is payable on July 15, 2026, to the common stockholders of record on June 30, 2026. The second quarter dividend is in line with the first quarter dividend. New Risk • May 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$99.5m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 129% Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (US$99.5m market cap). Aankondiging • Apr 16
Sunrise Realty Trust, Inc., Annual General Meeting, May 26, 2026 Sunrise Realty Trust, Inc., Annual General Meeting, May 26, 2026. Aankondiging • Apr 15
Sunrise Realty Trust, Inc. to Report Q1, 2026 Results on May 14, 2026 Sunrise Realty Trust, Inc. announced that they will report Q1, 2026 results at 9:30 AM, US Eastern Standard Time on May 14, 2026 Declared Dividend • Mar 16
Fourth quarter dividend of US$0.30 announced Dividend of US$0.30 is the same as last year. Ex-date: 31st March 2026 Payment date: 15th April 2026 Dividend yield will be 14%, which is higher than the industry average of 12%. Sustainability & Growth Dividend is not covered by earnings (129% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 43% to bring the payout ratio under control. EPS is expected to grow by 33% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Aankondiging • Mar 13
Sunrise Realty Trust, Inc. Declares Regular Cash Dividend for the First Quarter of 2026, Payable on April 15, 2026 On March 10, 2026, Sunrise Realty Trust, Inc.’s Board of Directors declared a regular cash dividend of $0.30 per common share for the first quarter of 2026. The first quarter dividend will be payable on April 15, 2026, to shareholders of record as of March 31, 2026. New Risk • Mar 12
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 129% Paying a dividend despite having no free cash flows. Aankondiging • Feb 10
Sunrise Realty Trust, Inc. to Report Q4, 2025 Results on Mar 12, 2026 Sunrise Realty Trust, Inc. announced that they will report Q4, 2025 results Pre-Market on Mar 12, 2026 Recent Insider Transactions • Jan 05
Founder & Executive Chairman recently bought US$1.3m worth of stock On the 31st of December, Leonard Tannenbaum bought around 137k shares on-market at roughly US$9.50 per share. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Leonard has been a buyer over the last 12 months, purchasing a net total of US$7.7m worth in shares. Board Change • Dec 31
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Founder & Executive Chairman Len Tannenbaum is the most experienced director on the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Declared Dividend • Dec 17
Third quarter dividend of US$0.30 announced Shareholders will receive a dividend of US$0.30. Ex-date: 31st December 2025 Payment date: 15th January 2026 Dividend yield will be 12%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (121% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. The company's earnings per share (EPS) would need to grow by 34% to bring the payout ratio under control. EPS is expected to grow by 13% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio. Aankondiging • Dec 16
Sunrise Realty Trust Announces Dividend for the Fourth Quarter Ending December 31, 2025, Payable on January 15, 2026 The Board of Directors of Sunrise Realty Trust, Inc. declared a quarterly dividend of $0.30 per outstanding share of common stock for the fourth quarter ending December 31, 2025. The dividend is payable on January 15, 2026, to the common stockholders of record on December 31, 2025. The fourth quarter dividend is in line with the third quarter dividend. New Risk • Dec 15
New minor risk - Financial data availability Less than 3 years of financial data is available. This is considered a minor risk. If the company has been trading for less than 3 years, then it has not had the opportunity to establish a long-term track record. This makes it difficult for investors to assess the true growth potential, sustainability and resilience of the business under different economic conditions. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 121% Paying a dividend despite having no free cash flows. Shareholders have been substantially diluted in the past year (94% increase in shares outstanding). Minor Risk Less than 3 years of financial data is available. Recent Insider Transactions • Nov 20
Founder & Executive Chairman recently bought US$306k worth of stock On the 17th of November, Leonard Tannenbaum bought around 32k shares on-market at roughly US$9.50 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$330k. Leonard has been a buyer over the last 12 months, purchasing a net total of US$7.3m worth in shares. Aankondiging • Oct 07
Sunrise Realty Trust, Inc. to Report Q3, 2025 Results on Nov 13, 2025 Sunrise Realty Trust, Inc. announced that they will report Q3, 2025 results at 9:30 AM, US Eastern Standard Time on Nov 13, 2025 Declared Dividend • Sep 17
Second quarter dividend of US$0.30 announced Shareholders will receive a dividend of US$0.30. Ex-date: 30th September 2025 Payment date: 15th October 2025 Dividend yield will be 12%, which is lower than the industry average of 12%. Sustainability & Growth Dividend is not covered by earnings (116% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. The company's earnings per share (EPS) would need to grow by 29% to bring the payout ratio under control. EPS is expected to grow by 38% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Aankondiging • Sep 16
Sunrise Realty Trust, Inc. Announces Dividend for the Third Quarter 2025, Payable on October 15, 2025 The Board of Directors of Sunrise Realty Trust, Inc. declared a quarterly dividend of $0.30 per outstanding share of common stock for the quarter ending September 30, 2025. The dividend is payable on October 15, 2025, to the common stockholders of record on September 30, 2025. Recent Insider Transactions • Aug 24
Founder & Executive Chairman recently bought US$108k worth of stock On the 20th of August, Leonard Tannenbaum bought around 10k shares on-market at roughly US$10.42 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$551k. Leonard has been a buyer over the last 12 months, purchasing a net total of US$7.6m worth in shares. Recent Insider Transactions • Aug 15
Founder & Executive Chairman recently bought US$551k worth of stock On the 12th of August, Leonard Tannenbaum bought around 53k shares on-market at roughly US$10.36 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Leonard has been a buyer over the last 12 months, purchasing a net total of US$9.7m worth in shares. Aankondiging • Aug 14
Sunrise Realty Trust, Inc. has filed a Follow-on Equity Offering in the amount of $50 million. Sunrise Realty Trust, Inc. has filed a Follow-on Equity Offering in the amount of $50 million.
Security Name: Common Stock
Security Type: Common Stock
Security Features: Income Trust
Transaction Features: At the Market Offering New Risk • Aug 11
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 116% The company is paying a dividend despite having no free cash flows. Dividend yield: 12% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 116% Paying a dividend despite having no free cash flows. Shareholders have been substantially diluted in the past year (95% increase in shares outstanding). Aankondiging • Jun 24
Sunrise Realty Trust, Inc. to Report Q2, 2025 Results on Aug 07, 2025 Sunrise Realty Trust, Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 07, 2025 Upcoming Dividend • Jun 23
Upcoming dividend of US$0.30 per share Eligible shareholders must have bought the stock before 30 June 2025. Payment date: 15 July 2025. Trailing yield: 11%. Within top quartile of American dividend payers (4.8%). Lower than average of industry peers (13%). Recent Insider Transactions • Jun 20
Founder & Executive Chairman recently bought US$65k worth of stock On the 16th of June, Leonard Tannenbaum bought around 6k shares on-market at roughly US$10.86 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$675k. Leonard has been a buyer over the last 12 months, purchasing a net total of US$11m worth in shares. Aankondiging • Jun 13
Sunrise Realty Trust Announces Dividend for the Second Quarter Ending June 30, 2025, Payable on July 15, 2025 The Board of Directors of SUNS declared a quarterly dividend of $0.30 per outstanding share of common stock for the quarter ending June 30, 2025. The dividend is payable on July 15, 2025 to the common stockholders of record on June 30, 2025. The second quarter dividend is in line with the first quarter dividend. Recent Insider Transactions • Jun 05
Founder & Executive Chairman recently bought US$401k worth of stock On the 3rd of June, Leonard Tannenbaum bought around 38k shares on-market at roughly US$10.66 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$1.1m. Leonard has been a buyer over the last 12 months, purchasing a net total of US$11m worth in shares. Recent Insider Transactions • May 12
Founder & Executive Chairman recently bought US$105k worth of stock On the 8th of May, Leonard Tannenbaum bought around 10k shares on-market at roughly US$10.48 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$1.1m. Leonard has been a buyer over the last 12 months, purchasing a net total of US$11m worth in shares. Recent Insider Transactions • Apr 30
Founder & Executive Chairman recently bought US$181k worth of stock On the 28th of April, Leonard Tannenbaum bought around 18k shares on-market at roughly US$10.08 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$1.1m. Leonard has been a buyer over the last 12 months, purchasing a net total of US$10m worth in shares. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$9.78, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Mortgage REITs industry in the US. Simply Wall St's valuation model estimates the intrinsic value at US$9.45 per share. Aankondiging • Apr 19
Sunrise Realty Trust, Inc., Annual General Meeting, May 29, 2025 Sunrise Realty Trust, Inc., Annual General Meeting, May 29, 2025. New Risk • Apr 16
New minor risk - Financial data availability Less than 3 years of financial data is available. This is considered a minor risk. If the company has been trading for less than 3 years, then it has not had the opportunity to establish a long-term track record. This makes it difficult for investors to assess the true growth potential, sustainability and resilience of the business under different economic conditions. Currently, the following risks have been identified for the company: Minor Risks Less than 3 years of financial data is available. Dividend is not well covered by cash flows (dividend per share is over 9x cash flows per share). Profit margins are more than 30% lower than last year (65% net profit margin). Aankondiging • Apr 15
Sunrise Realty Trust, Inc. to Report Q1, 2025 Results on May 07, 2025 Sunrise Realty Trust, Inc. announced that they will report Q1, 2025 results Pre-Market on May 07, 2025 Buy Or Sell Opportunity • Apr 09
Now 27% overvalued Over the last 90 days, the stock has fallen 33% to US$8.94. The fair value is estimated to be US$7.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 1,342% over the last year. Earnings per share has grown by 888%. Revenue is forecast to grow by 42% in 2 years. Earnings are forecast to grow by 190% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$9.26, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Mortgage REITs industry in the US. Simply Wall St's valuation model estimates the intrinsic value at US$7.27 per share. Upcoming Dividend • Mar 24
Upcoming dividend of US$0.30 per share Eligible shareholders must have bought the stock before 31 March 2025. Payment date: 15 April 2025. Trailing yield: 11%. Within top quartile of American dividend payers (4.7%). In line with average of industry peers (12%). Recent Insider Transactions • Mar 16
Founder & Executive Chairman recently bought US$109k worth of stock On the 11th of March, Leonard Tannenbaum bought around 10k shares on-market at roughly US$10.83 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$1.4m. Leonard has been a buyer over the last 12 months, purchasing a net total of US$6.9m worth in shares. Aankondiging • Mar 06
Sunrise Realty Trust, Inc. Declares Cash Dividend for the First Quarter of 2025, Payable on April 15, 2025 Sunrise Realty Trust, Inc. announced on March 4, 2025, the company’s board of directors declared a regular cash dividend of $0.30 per common share for the first quarter of 2025. The dividend is payable on April 15, 2025, to shareholders of record as of March 31, 2025. Aankondiging • Feb 12
Sunrise Realty Trust, Inc. to Report Q4, 2024 Results on Mar 06, 2025 Sunrise Realty Trust, Inc. announced that they will report Q4, 2024 results Pre-Market on Mar 06, 2025 Aankondiging • Jan 29
Sunrise Realty Trust, Inc. has completed a Follow-on Equity Offering in the amount of $69 million. Sunrise Realty Trust, Inc. has completed a Follow-on Equity Offering in the amount of $69 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 5,750,000
Price\Range: $12
Discount Per Security: $0.78
Security Features: Income Trust Aankondiging • Jan 21
Sunrise Realty Trust, Inc. has filed a Follow-on Equity Offering. Sunrise Realty Trust, Inc. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 5,500,000
Security Features: Income Trust Upcoming Dividend • Dec 24
Upcoming dividend of US$0.42 per share Eligible shareholders must have bought the stock before 31 December 2024. Payment date: 15 January 2025. Trailing yield: 12%. Within top quartile of American dividend payers (4.5%). In line with average of industry peers (12%). Recent Insider Transactions • Dec 20
Founder & Executive Chairman recently bought US$1.4m worth of stock On the 18th of December, Leonard Tannenbaum bought around 103k shares on-market at roughly US$13.41 per share. This transaction amounted to 5.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Leonard has been a buyer over the last 12 months, purchasing a net total of US$6.8m worth in shares. New Risk • Dec 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$98.8m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (US$734k revenue). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Market cap is less than US$100m (US$98.8m market cap). Aankondiging • Oct 08
Sunrise Realty Trust, Inc. to Report Q3, 2024 Results on Nov 07, 2024 Sunrise Realty Trust, Inc. announced that they will report Q3, 2024 results at 9:30 AM, US Eastern Standard Time on Nov 07, 2024 Recent Insider Transactions • Aug 21
Executive Chairman recently bought US$1.5m worth of stock On the 16th of August, Leonard Tannenbaum bought around 118k shares on-market at roughly US$12.44 per share. This transaction amounted to 7.8% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$1.5m. Leonard has been a buyer over the last 12 months, purchasing a net total of US$3.7m worth in shares. Aankondiging • Aug 14
Sunrise Realty Trust, Inc. Declares Dividend for the Third and Fourth Quarter of 2024, Payable on October 15, 2024 and January 15, 2025 Respectively The board of directors of Sunrise Realty Trust, Inc. has declared a partial quarter cash dividend of $0.21 per common share for the third quarter of 2024 as SUNS was not public for the full quarter. The dividend will be paid on October 15, 2024, to shareholders of record as of September 30, 2024. Looking ahead, the Board of Directors has declared a regular cash dividend of $0.42 per common share for the fourth quarter of 2024. The dividend will be paid on January 15, 2025, to shareholders of record as of December 31, 2024. Aankondiging • Jul 18
Sunrise Realty Trust, Inc. to Report Q2, 2024 Results on Aug 14, 2024 Sunrise Realty Trust, Inc. announced that they will report Q2, 2024 results on Aug 14, 2024 
