Sunrise Realty Trust Inc Stock Price, News & Analysis

Sunrise Realty Trust (NASDAQ:SUNS) has provided a quarterly business update and declared dividends for Q3 and Q4 2024. Key points include:

• A partial Q3 2024 dividend of $0.21 per common share, payable on October 15, 2024
• A regular Q4 2024 dividend of $0.42 per common share, payable on January 15, 2025
• Current portfolio totaling $119.6 million in commitments, with $96.2 million funded as of August 5, 2024
• Focus on commercial real estate lending in the Southern United States
• New vintage assets portfolio with no legacy assets
• Successful spin-off completed on July 9, 2024

The company expressed confidence in its ongoing business strategy and commitment to shareholder value.

Sunrise Realty Trust (SUNS) has committed $40.0 million to a $160.0 million credit facility for the development of Panther National, a luxury golf community in Palm Beach Gardens, Florida. SUNS has already funded $27.5 million of its commitment. The project, sponsored by Centaur Holdings, spans 392 acres and features 218 residences, an 18-hole championship golf course designed by Jack Nicklaus and Justin Thomas, and various resort-style amenities.

The funding will support Phase II of the development, including construction of remaining residences, a 60,000 square foot clubhouse, Health & Lifestyle Club, and Tour Golf Performance Center. Current real estate sales have exceeded $300 million, indicating strong market appeal. SUNS CEO Brian Sedrish expressed excitement about the partnership, highlighting the company's focus on strong risk-adjusted returns in the Southern United States.

Sunrise Realty Trust (Nasdaq: SUNS) has committed $27.3 million, with $25 million already funded, in a $42 million senior loan for refinancing the Thompson San Antonio Hotel. This marks SUNS's second transaction with DC Partners, the project's sponsor. The hotel, part of a 20-story mixed-use development completed in 2020, features 162 luxury rooms and various amenities. Located near San Antonio's Riverwalk and key attractions, it's positioned to meet the city's growing demand for upscale accommodations. San Antonio, the seventh most populous U.S. city, attracts over 30 million visitors annually. Brian Sedrish, CEO of SUNS, emphasized their commitment to supporting borrowers with customized financing solutions.

Sunrise Realty Trust (Nasdaq: SUNS) has scheduled its second quarter 2024 earnings conference call for August 14, 2024, at 10:00 am Eastern Time. The company will report earnings for the quarter ended June 30, 2024, on the same day. Interested parties can participate through a live audio webcast available on the Investor Relations section of SUNS' website or via telephone by registering in advance. The complete webcast will be archived for 90 days on the company's website for those unable to attend the live call.

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.