Sunrise Realty Trust Reveals Strong Financial Performance
Sunrise Realty Trust Reports Impressive Financial Outcomes
Sunrise Realty Trust, Inc. (NASDAQ: SUNS) has revealed that its fourth-quarter financial performance for the year 2024 showcases positive results. The company reported a GAAP net income of $1.9 million, equating to $0.27 per basic weighted average common share. Additionally, its Distributable Earnings reached $2.0 million or $0.30 per common share for the same quarter.
Significant Year-End Financial Highlights
For 2024, the cumulative financial results indicated a GAAP net income of $6.9 million, translating to $1.01 per basic weighted average common share. Furthermore, the Distributable Earnings amounted to $7.2 million, with earnings per share standing at $1.07. These results signify a stable financial footing for Sunrise Realty Trust.
Strategic Growth Initiatives
Brian Sedrish, Chief Executive Officer of Sunrise Realty Trust, commented on the quarter's performance, emphasizing the impressive progress made since the company's transition to a public entity. Notably, during the fourth quarter, SUNS secured commitments totaling $75 million in new deals. Post-quarter analyses reveal an additional $74.8 million in commitments made through early March, indicating a strong and proactive approach to business growth.
Dividend Declaration and Benefits to Shareholders
On a positive note for shareholders, the Board of Directors declared a regular cash dividend of $0.30 per common share, scheduled for distribution in the first quarter of 2025. This dividend is set to be paid on April 15, 2025, for shareholders on record as of March 31, 2025.
Investor Tools and Resources
In support of its investors, Sunrise Realty Trust presented its "Fourth Quarter and Full Year 2024 Investor Presentation," available on the company's Investor Relations page. In addition, the company has properties and potential investors are encouraged to access the Annual Report for comprehensive insights on performance metrics and future strategies.
Investor Call Details
To further engage with investors, SUNS plans to host a conference call at 10:00 am ET for a real-time update on the business progression and discuss key financial results in detail. Participants can join through a live audio webcast accessible via the Investor Relations section of SUNS's website.
About Sunrise Realty Trust, Inc.
Sunrise Realty Trust, Inc. specializes in providing flexible financial solutions for commercial real estate lenders in the Southern United States. Focused on transitional opportunities, the company prioritizes value creation strategies while collateralizing top-tier property assets that exhibit robust growth fundamentals.
Frequently Asked Questions
What is the GAAP net income for the fourth quarter of 2024?
Sunrise Realty Trust reported a GAAP net income of $1.9 million for the fourth quarter of 2024, which amounts to $0.27 per common share.
How much Divisible Earnings did the company record for the year?
The company recorded Distributable Earnings of $7.2 million for the year ended 2024, translating to $1.07 per share.
What commitments did Sunrise Realty Trust achieve in the fourth quarter?
During the fourth quarter, SUNS successfully committed to $75 million in deals, demonstrating its active engagement in profitable opportunities in the market.
When will the next dividend be paid?
The next cash dividend of $0.30 per share will be paid on April 15, 2025.
How can investors learn more about the company?
Investors can access additional information about Sunrise Realty Trust and its performance metrics through its Investor Relations webpage and its available annual reports.
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