Sunrise Realty Trust (SUNS)
Originates secured commercial real estate loans for transitional Southern U.S. projects.
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Originates and invests in senior mortgage and subordinate CRE debt for borrowers and sponsors with transitional business plans. The portfolio is concentrated in Southern U.S. markets and run through an external manager that provides sourcing, underwriting, personnel, and support.
Originates and holds secured commercial real estate loans as a mortgage REIT, with senior mortgage loans and subordinate debt as the core portfolio categories. Borrowers and sponsors typically use the capital for transitional business plans, near-term value creation, or recapitalization needs.
Geography is concentrated in the Southern United States, with context highlighting markets such as Florida, Georgia, Tennessee, Texas, Arizona, Nevada, and the Carolinas. Target collateral spans multifamily, condominium, single-family community, retail, office, hospitality, industrial, mixed-use, and specialty-use properties.
Operates through Sunrise Manager and the Tannenbaum Capital Group platform, which supplies personnel, sourcing, underwriting infrastructure, and support services. The business depends on continued CRE lending opportunities and borrower demand for transitional real-estate capital.
Company facts
Categories
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 6, 2026 | Industrial Alliance Securities | Target | $16 | $10 | ||
| Jan 8, 2026 | Keefe, Bruyette & Woods | Downgrade | Outperform | Market Perform |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $5.6M · Total debt $141.7M · Total assets $330.7M · Shareholders' equity $181.8M
- Revenue
- $8.6M
- Operating income
- $5.8M
- Net income
- $3.1M
Last cut to $0.30 from $0.42 in Mar 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 15 | $0.30 | |
| Mar 31, 2026 | Mar 31 | Apr 15 | $0.30 | |
| Dec 31, 2025 | Dec 31 | Jan 15 | $0.30 | |
| Sep 30, 2025 | Sep 30 | Oct 15 | $0.30 | |
| Jun 30, 2025 | Jun 30 | Jul 15 | $0.30 | |
| Mar 31, 2025 | Mar 31 | Apr 15 | $0.30 | cut from $0.42 |
| Dec 31, 2024 | Dec 31 | Jan 15 | $0.42 | raised from $0.21 |
| Sep 30, 2024 | Sep 30 | Oct 15 | $0.21 |
| Institutions79 holders · as of Mar 31, 2026 | 29.83% | 4.03M shares | |
| Insiders7 holders · as of Aug 17, 2026 | 28.83% | 3.90M shares | |
| Otherremainder | 41.34% | 5.59M shares |
13.52M company shares as of Sep 3, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Leonard M. TannenbaumInsiderdirector, 10 percent owner, officer: Executive Chairman | 27.59% | 3.73M | Form 4filed Aug 17, 2026 ↗ |
Philadelphia Financial Management of San Francisco, LLCInstitution | 5.09% | 687,470 | 13Gfiled Feb 3, 2025 ↗ |
BlackRock, Inc.Institution | 4.78% | 645,488 | 13Fas of Mar 31, 2026 |
Vanguard Capital Management LLCInstitution | 3.33% | 449,914 | 13Fas of Mar 31, 2026 |
Gratia Capital, LLCInstitution | 3.25% | 438,816 | 13Fas of Mar 31, 2026 |
| See all 25 → | |||
13F — a manager's quarterly holdings · 13D/13G — an ownership statement filed at 5% or more · Form 4 — an insider's transaction report
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 13, 2026 | Leonard M. Tannenbaum | director, 10 percent owner, officer: Executive Chairman | +50,000 | $7.50 |
| Aug 11, 2026 | Leonard M. Tannenbaum | director, 10 percent owner, officer: Executive Chairman | +20,000 | $7.60 |
| Aug 12, 2026 | Brandon Hetzel | officer: CFO and Treasurer | +713 | $7.58 |
| Aug 10, 2026 | Leonard M. Tannenbaum | director, 10 percent owner, officer: Executive Chairman | +25,000 | $7.79 |
| Aug 7, 2026 | Leonard M. Tannenbaum | director, 10 percent owner, officer: Executive Chairman | +23,109 | $7.73 |
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- Ares Commercial Real Estate
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- BrightSpire Capital
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sunrise Realty Trust | $7.46 | −0.13% | $100.8M | 7.7 | 6.0 | 3.0 | +26.8% |
| Blackstone Mortgage Trust | $14.03 | +0.07% | $2.36B | 175.3 | 11.2 | 1.6 | +18.1% |
| KKR Real Estate Finance Trust | $7.59 | −0.13% | $488.0M | — | — | 1.2 | −82.3% |
| Starwood Property Trust | $15.86 | +0.27% | $5.87B | 23.2 | 9.4 | 2.9 | +7.9% |
| Ladder Capital | $9.81 | 0.00% | $1.24B | 23.4 | 9.0 | 3.3 | −40.9% |
| Ares Commercial Real Estate | $4.55 | 0.00% | $252.4M | — | 49.3 | 2.6 | — |
| BrightSpire Capital | $4.62 | −1.49% | $593.4M | — | 7.7 | 1.8 | −0.9% |
| Median | 23.4 | 9.4 | 2.2 | −0.9% |