Sunrise Realty Trust Stock Drops: Why Its 14% Dividend Yield Is Back Under the Microscope
Sunrise Realty Trust shares dropped 2.9% to $8.49 Wednesday, underperforming peers as U.S. equities fell and no new company news emerged. About 62,600 shares traded, leaving the REIT with a $113 million market value. The company last reported first-quarter net income of $4.3 million and paid a 30-cent quarterly dividend. Most of Sunrise’s $299 million loan book carries floating rates, with no loans on nonaccrual status.