Sunrise Realty Trust Inc Stock Price, News & Analysis

Sunrise Realty Trust (SUNS) has invested $14.1 million in a senior secured mortgage loan to refinance Jovie Belterra, a 150-unit 55+ active adult multi-family rental development in southwest Austin.

An additional $21.1 million for the total loan amount was contributed by an affiliated fund. The Project occupies over 140,000+ net rentable square feet within the Belterra Master Planned Community in Dripping Springs, Hays County, a high-growth area in Texas.

Wilson Capital, an Austin-based developer, is managing the Project, which features resort-style amenities and is expected to complete in Q3 2024.

CEO Brian Sedrish highlighted supply and high demand for such properties in Texas, suggesting strong risk-adjusted returns for investors.

SLR Investment Corp. (SLRC) and SLR Senior Investment Corp. (SUNS) have announced that stockholders overwhelmingly approved the merger of the two companies at special meetings on March 21, 2022. With around 95% of SUNS stockholders and 98% of SLRC stockholders voting in favor, the merger is expected to close on or about April 1, 2022, pending customary conditions. Co-CEO Michael Gross expressed gratitude for the support and emphasized the advantages of a larger, combined entity, which aims for improved scale, portfolio diversity, and financial flexibility.

SLR Senior Investment Corp. (NASDAQ: SUNS) reported a 36% year-over-year increase in its comprehensive portfolio, reaching $625.3 million. For Q4 2021, net investment income was $3.5 million ($0.22 per share), while full-year net investment income totaled $14.3 million ($0.89 per share). Adjusted for one-time merger-related expenses, Q4 income would have been $0.27 per share. A monthly distribution of $0.10 per share is declared for March 2022. The company expects favorable growth conditions to continue in 2022.

SLR Senior Investment Corp. (NASDAQ: SUNS) announced a monthly distribution of $0.10 per share for February 2022, payable on March 1, 2022, to stockholders of record by February 17, 2022. The specific tax characteristics of this distribution will be reported on Form 1099 at year-end. This closed-end investment company specializes in investing in leveraged, middle market companies primarily through cash flow senior secured loans. The firm acknowledges several risks including those related to COVID-19 and market volatility that may impact future performance.

SLR Senior Investment Corp. (NASDAQ: SUNS) will release its financial results for the fiscal year and quarter ending December 31, 2021, on March 1, 2022, after market close. An earnings conference call is scheduled for March 2, 2022, at 11:00 a.m. ET, accessible via phone or live webcast. The company specializes in investing in leveraged U.S. middle-market companies, primarily through cash flow first lien senior secured debt instruments. This announcement is significant for investors seeking insights into the company's financial performance.

SLR Senior Investment Corp. (NASDAQ: SUNS) announced a distribution of $0.10 per share for January 2022. This payment is scheduled for February 2, 2022, to shareholders on record as of January 20, 2022. The company, recognized as a business development company, primarily invests in U.S. middle market companies through cash flow senior secured loans. The nature of the distribution's tax characteristics will be reported to stockholders on Form 1099 after the calendar year ends.

SLR Senior Investment Corp. (NASDAQ: SUNS) announced a distribution of $0.10 per share for December 2021, payable on January 5, 2022, to stockholders of record as of December 16, 2021. This closed-end investment company specializes in investing in U.S. middle market companies, primarily through senior secured loans. The company will report the specific tax characteristics of this distribution on Form 1099 after the calendar year ends. SLR Senior Investment Corp. cautions that actual results may differ from forward-looking statements due to various risks, including market volatility and COVID-19 impacts.

SLR Investment Corp. (SLRC) and SLR Senior Investment Corp. (SUNS) announced a merger agreement with SLRC as the surviving entity, pending stockholder approval. SUNS shareholders will exchange their shares for SLRC shares at an exchange ratio based on net asset values. The merger is expected to enhance net investment income due to operational synergies and a reduction in management fees. The combined entity will have over $2 billion in assets, focusing on senior secured loans. The merger is anticipated to close in the first half of 2022, with both companies aiming for continued quarterly distributions.

SLR Senior Investment Corp. (NASDAQ: SUNS) reported a net investment income of $3.7 million or $0.23 per share for Q3 2021, down from $4.8 million in Q3 2020. The net asset value (NAV) was $15.73 per share. The company declared a monthly distribution of $0.10 per share, payable on December 2, 2021. Comprehensive portfolio fair value reached $612 million, with a net debt to equity ratio of 0.55x. Notably, the company had total originations of $93.1 million in the quarter, signaling ongoing portfolio growth despite challenges in gross investment income.