SUNS
Sunrise Realty TrustDDocument history
Earnings documents stored for SUNS.
Investor releaseQuarter not tagged2026-05-15Sunrise Realty Trust Q1 Earnings Call Highlights
MarketBeat
Sunrise Realty Trust Q1 Earnings Call Highlights
Interested in Sunrise Realty Trust, Inc.? Here are five stocks we like better. Sunrise Realty Trust beat its dividend coverage in Q1 2026, reporting distributable earnings of $0.35 per share versus a $0.30 quarterly dividend. Management said results were helped by loan originations, repayments, and fee income, with all loans current and performing. The company remained active in transitional commercial real estate lending, originating $91 million of loans during the quarter and ending with $292.1 million of principal outstanding across 14 loans as of May 8. Management said it continues to focus on southern U.S. markets, especially Florida, the Southeast and Texas. Sunrise’s Thompson San Antonio hotel foreclosure remains a key watch item, but the asset is now on the market and has drawn multiple bids. The company has not accepted an offer yet and does not expect income from the hotel until it is sold or financed differently. Sunrise Realty Trust (NASDAQ:SUNS) reported first-quarter 2026 distributable earnings that exceeded its quarterly dividend, as management cited loan originations, repayments and fee income as drivers of results while outlining a continued focus on transitional commercial real estate lending in southern U.S. markets. Executive Chairman Leonard Tannenbaum said Sunrise generated distributable earnings of $0.35 per share for the quarter ended March 31, covering the company’s $0.30 per-share dividend. He said the quarter benefited from a short-term loan on a Colorado property, new deal closings and the payoff of a loan tied to a multifamily property in Dallas. → Rocket Lab Just Hit a New All-Time High—Time to Buy or Let It Breathe? “We were pleased with our first quarter results, which reflected the continued earnings power of our portfolio,” Tannenbaum said, adding that the results also showed the company’s ability to recycle capital through repayments and new originations at what management views as attractive risk-adjusted returns. During the quarter, the TCG Real Estate platform originated $91 million of loans, of which Sunrise committed $62 million across two loans, Chief Executive Officer Brian Sedrish said. Those commitments included $14 million of a $22 million senior bridge loan financing the acquisition of an 11,000-acre portion of Silver Mountain Ranch in Colorado. That loan was originated, closed and exited during the quarter. Sunr...
Investor releaseQuarter not tagged2026-05-15Sunrise Realty Trust, Inc. Q1 2026 Earnings Call Summary
Moby
Sunrise Realty Trust, Inc. Q1 2026 Earnings Call Summary
Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance was driven by the recycling of capital through timely repayments and new originations, specifically benefiting from a short-term Colorado bridge loan and a Dallas multifamily payoff. Management is focusing on 'transitional' business plans where complex underwriting and structuring create alpha, intentionally avoiding the highly competitive stabilized multifamily and industrial sectors. The company views the upcoming wave of stressed 2021-2022 vintage bridge loans as a tailwind, as it creates acquisition opportunities for the sponsors SUNS lends to at a reset cost basis. Strategic foreclosure of the Thompson San Antonio hotel was executed to remove restrictive management agreements and brand affiliations, allowing for a value-maximizing exit currently being marketed. Market dynamics show a bifurcation where Florida and the Southeast remain constructive due to migration, while Western Sun Belt markets are still absorbing excess supply. The investment philosophy prioritizes unlevered returns over capital markets execution, which insulated the portfolio from recent treasury yield volatility and spread widening. Future originations are expected to maintain a 'supermajority' of senior debt, though the firm will selectively add low-leverage subordinate tranches through senior lender partnerships. Management anticipates a resolution of the San Antonio REO asset over the next few quarters, potentially involving all-cash sales or seller financing with significant buyer equity. The pipeline is expected to remain concentrated in Southern markets, specifically leaning into 'reset basis' opportunities as overbuilt Western markets begin to stabilize. Earnings power is expected to be supported by the continued funding of existing construction commitments and the normalization of acquisition volume as rates eventually stabilize. Management assumes no income will be generated from the San Antonio hotel asset until a sale or financing transaction is finalized. Distributable earnings for the quarter were bolstered by $1.6 million in one-time fees, including a $1.2 million prepayment fee from the Bohem loan and a $400 thousand fee from a one-week bridge loan. The Thompson San Antonio foreclosure represents a temporar...
Investor releaseQuarter not tagged2026-05-14Sunrise Realty Trust, Inc. Announces Financial Results for the First Quarter 2026
GlobeNewswire
Sunrise Realty Trust, Inc. Announces Financial Results for the First Quarter 2026
First quarter 2026 GAAP net income of $4.3 million or $0.32 per basic weighted average common share and Distributable Earnings(1) of $4.7 million or $0.35 per basic weighted average common share WEST PALM BEACH, Fla., May 14, 2026 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”), a lender on the Tannenbaum Capital Group (“TCG”) Real Estate platform, today announced its results for the quarter ended March 31, 2026. For the first quarter of 2026, SUNS reported generally accepted accounting principles (“GAAP”) net income of $4.3 million, or $0.32 per basic weighted average common share, and Distributable Earnings of $4.7 million, or $0.35 per basic weighted average common share. Brian Sedrish, Chief Executive Officer of SUNS, said, “During the quarter, we continued to see a clear divergence between groups that are on offense and those that remain on defense as they work through their legacy loan books and look to shore up their balance sheets. Focusing on those that remained on offense, the bulk of capital continued to be directed at financing existing multifamily and industrial assets at low financing spreads, which has left a noticeable gap in capital available to finance transitional business plans. The result is that our team has continued to see an increase in attractive pipeline opportunities where SUNS can pair its expertise with the needs of sponsors executing transitional plans. We remain focused on building a diversified portfolio of loans across geographies, asset classes, and borrowers, and we believe a patient and deliberate approach to identifying and closing on select opportunities is warranted.” Common Stock Dividend On April 15, 2026, the Company paid a cash dividend of $0.30 per common share for the first quarter of 2026. SUNS distributed $4.1 million in dividends, or $0.30 per common share, compared to Distributable Earnings of $0.35 per basic weighted average common share for such period. Additional Information SUNS issued a presentation, titled “First Quarter 2026 Investor Presentation,” which can be viewed at www.sunriserealtytrust.com under the Investor Relations section. The Company also filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, with the Securities and Exchange Commission (the “SEC”) on May 14, 2026. SUNS routinely posts important information for investors on its...
Investor releaseQuarter not tagged2026-05-14Sunrise Realty (SUNS) Q1 2026 Earnings Transcript
Motley Fool
Sunrise Realty (SUNS) Q1 2026 Earnings Transcript
Image source: The Motley Fool. Thursday, May 14, 2026 at 10 a.m. ET Executive Chairman — Leonard Mark Tannenbaum Chief Executive Officer — Brian Sedrish Chief Financial Officer — Brandon Hetzel Gabriel A. Katz: Good morning, and thank you all for joining Sunrise Realty Trust earnings call for the quarter ended 03/31/2026. I am joined this morning by Leonard Mark Tannenbaum, our Executive Chairman Brian Sedrish, our Chief Executive Officer and Brandon Hetzel, our Chief Financial Officer. Before we begin, I would like to note that this call is being recorded. Replay information is included on our 04/15/2026 press release, is posted on the investor relations portion of our website at sunriserealtytrust.com. Along with our first quarter 2026 earnings release and investor presentation. Today's conference call includes forward looking statements and projections that reflect the company's current views with respect to, among other things, market developments, our investment pipeline, anticipated portfolio yield, and financial performance and projections in 2026 and beyond. These statements are subject to inherent uncertainties in predicting future results. Please refer to Sunrise Realty Trust's most recent periodic filings with the SEC including our quarterly report on Form 10 q filed earlier this morning, for certain conditions and significant factors that could cause actual results to differ materially from these forward looking statements and projections. During today's conference call, management will refer to non GAAP measures, including distributable earnings. Please see our first quarter earnings release uploaded to our website for reconciliations of the non GAAP financial measures with the most directly comparable GAAP measures. The format for today's call is as follows. Len will provide a general business and capital markets overview next Brian will cover our view on the state of commercial real estate lending markets, discuss our existing portfolio, and provide an outlook for our investment pipeline. Then Brandon will provide an update on our financial position. After that, we will open the lines for Q&A. With that, I will now turn the call over to our Executive Chairman, Leonard Mark Tannenbaum. Leonard Mark Tannenbaum: Thank you, Gabe. Good morning, and welcome to our first quarter 2026 earnings conference call. For the quarter ended 03/31/2026, SUNS ge...
Investor releaseQuarter not tagged2026-05-14Sunrise Realty Trust, Inc. (SUNS) Q1 Earnings and Revenues Top Estimates
Zacks
Sunrise Realty Trust, Inc. (SUNS) Q1 Earnings and Revenues Top Estimates
Sunrise Realty Trust, Inc. (SUNS) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.29 per share. This compares to earnings of $0.31 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +22.81%. A quarter ago, it was expected that this company would post earnings of $0.31 per share when it actually produced earnings of $0.27, delivering a surprise of -12.9%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Sunrise Realty Trust, Inc., which belongs to the Zacks Real Estate - Operations industry, posted revenues of $7.31 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 28.18%. This compares to year-ago revenues of $4.62 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Sunrise Realty Trust, Inc. shares have lost about 22.1% since the beginning of the year versus the S&P 500's gain of 8.8%. While Sunrise Realty Trust, Inc. has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Sunrise Realty Trust, Inc. was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near fut...
TranscriptFY2026 Q12026-05-14FY2026 Q1 earnings call transcript
Earnings source - 64 paragraphs
FY2026 Q1 earnings call transcript
Good day, and thank you for standing by. Welcome to the Sunrise Realty Trust first quarter 2026 earnings call. At this time, all participants are in a listen-only mode. After the speaker's presentation, we'll open up for questions. To ask a question during the session, you will need to press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 1 again. Please be advised that today's call is being recorded. I would now like to hand it over to our first speaker, Gabriel Katz, Chief Legal Officer. Please go ahead.
Good morning, and thank you all for joining Sunrise Realty Trust earnings call for the quarter ended March 31st, 2026. I'm joined this morning by Leonard Tannenbaum, our Executive Chairman, Brian Sedrish, our Chief Executive Officer, and Brandon Hetzel, our Chief Financial Officer. Before I begin, I would like to note that this call is being recorded. Replay information is included on our April 15th, 2026 press release and is posted on the investor relations portion of our website at sunriserealtytrust.com, along with our 1st quarter 2026 earnings release and investor presentation. Today's conference call includes forward-looking statements and projections that reflect the company's current views with respect to, among other things, market developments, our investment pipeline, anticipated portfolio yield, and financial performance and projections in 2026 and beyond. These statements are subject to inherent uncertainties in predicting future results.
Please refer to Sunrise Realty Trust most recent periodic filings with the SEC, including our quarterly report on Form 10-Q filed earlier this morning for certain conditions and significant factors that could cause actual results to differ materially from these forward-looking statements and projections. During today's conference call, management will refer to non-GAAP financial measures, including Distributable Earnings. Please see our first quarter earnings release uploaded to our website for reconciliations of the non-GAAP financial measures with most directly comparable GAAP measures. The format for today's call is as follows. Len will provide a general business and capital markets overview. Next, Brian will cover our view on the state of the commercial real estate lending markets, discuss our existing portfolio, and provide an outlook for our investment pipeline. Brandon will provide an update on our financial position. After that, we'll open the lines for Q&A.
With that, I will now turn the call over to our Executive Chairman, Leonard Tannenbaum.
Thank you, Gabe. Good morning, and welcome to our first quarter 2026 earnings conference call. For the quarter ended March 31, 2026, SUNS generated distributable earnings of 35 cents per share of common stock, which covered our dividend of 30 cents per share. The quarter was positively impacted by a short-term loan on a Colorado property, new deal closings, and the payoff of a loan to a multifamily property in Dallas. We were pleased with our first quarter results, which reflected the continued earnings power of our portfolio, the benefit of construction and other existing commitments funding during the quarter, and our ability to recycle capital through repayments and new originations at an attractive risk-adjusted return. During the quarter, we completed the foreclosure of our loan secured by Thompson San Antonio, a 162-key Class A hotel in Texas.
We believe we are now better positioned to evaluate value-maximizing alternatives since the asset is not subject to the former sponsor's hotel management agreement and brand affiliation. Shortly after taking title, we engaged Eastdil to market the asset, and the first round of bidding recently concluded. We received multiple attractive offers and expect the process to continue over the upcoming quarters. The ultimate transaction could take the form of an all-cash sale or a sale that includes lower leverage seller financing from SUNS and its affiliates, combined with a meaningful equity contribution from the buyer. Based on the interest to date, we remain positive about our ability to resolve the investment in a timely manner.
On the capital markets front, in March, we completed the expansion of our senior secured revolving facility to $165 million with the addition of Customers Bank, which committed an additional $25 million to our facility. With that, I'll turn it over to Brian to discuss the market environment and walk through our portfolio in more detail.
Thank you, Len, and good morning. Before turning to the portfolio, I wanted to briefly discuss what we are seeing in the commercial real estate lending market and why we believe SUNS is well-positioned. Over the last 2 years, we have worked to construct a loan book that capitalizes on our team's expertise in providing capital to sponsors of transitional real estate business plans with projects situated in growing southern markets backed by competent owners. Our team seeks to primarily invest in transactions that require a lender which can underwrite complex business plans and create the necessary structure to ensure downside protection. These types of deals are where our team believes it can create alpha. Within the broader transaction market, we continue to see a meaningful divide between acquisitions and refinancings.
Acquisitions where the cost basis has been reset to today's market are generally where the underwriting works most cleanly and where we have been most active. Pricing on refinancings is harder to establish because relatively few comparable assets actually trade, which creates a wide range of outcomes. We find a subset of refinancings interesting, specifically situations where an incumbent senior lender is forcing the sponsor's hand to be taken out. Capital markets activity in the quarter was more volatile than recent quarters, driven primarily by geopolitical developments. Treasury yields moved meaningfully higher and securitization spreads widened before partially retracing. From our seat, sponsor inquiry activity remained healthy throughout the period, but several transactions in our pipeline paused for several weeks while sponsors and their counterparties reassessed cost of capital. By quarter end, activity had largely normalized.
Importantly, because we underwrite to unlevered returns rather than relying on capital markets execution to manufacture our yield, this kind of episodic volatility has limited impact on the deals we have already closed and modest impact on our forward pipeline. Across the markets we lend into, the picture in the Southern United States is not uniform, and we think this nuance matters in how we deploy capital. Florida and the Southeast more broadly remain constructive across most asset classes, supported by sustained in-migration and continued employment growth. The major Texas markets are showing signs of tightening on the residential side, with concession burn-off underway in select submarkets. Some of the more recently overbuilt Western Sun Belt markets are still working through excess supply, and many have not yet reached an equilibrium.
We remain disciplined about where we deploy and have leaned into reset basis opportunities in the markets that have begun to stabilize. On the competitive landscape, regional banks have continued to step back into smaller, simpler, stabilized deals, and the larger debt funds and commercial mortgage REITs have continued to compete aggressively for stabilized multifamily and industrial loans, where spreads have tightened back to the mid 200s over SOFR in many instances. That is not where we play. Our focus remains on transitional business plans where the deal requires structuring, sponsor selection, and asset-level conviction, not just an attractive cost of funds. Said differently, in a market where many lenders are competing on price, we continue to focus on the less trafficked business plans that require operational and development expertise and a sound understanding of local market dynamics.
The other dynamic worth highlighting is the growing wave of stress in 21 and 22 vintage bridge and construction loans coming due. The market is going to need to clear billions of dollars of this paper through sales, modifications, and recapitalizations over the next two years. That is not a headwind for SUNS. We did not originate that vintage at scale. Our book is overwhelmingly post-rate hike paper at reset basis, and the disgorgement cycle is precisely what creates the acquisition opportunities for the sponsors that we lend to. Turning to the portfolio, in the first quarter of 2026, the TCG Real Estate platform originated $91 million of loans, of which SUNS committed $62 million across two loans.
These included $14 million of a $22 million senior bridge loan to finance the acquisition of an 11,000 acre portion of Silver Mountain Ranch in Colorado, which was originated, closed, and exited during the quarter, and $48 million of a $69 million B note as part of the $406 million refinancing of a 15-property portfolio of Graduate by Hilton hotels for AJ Capital Partners. Over the period, SUNS funded $90 million of new and existing loans and received $70 million of repayments, including full repayment on 2 loans, Silver Mountain Ranch and Boehme. As of March 31, 2026, the SUNS portfolio had $397 million of commitments, with $299 million funded across 15 loans. Subsequent to quarter end, Jovie Belterra was fully repaid.
Looking ahead, we remain focused on disciplined origination, active portfolio management, and prudent capital allocation. We believe the current market favors lenders with flexible capital, structuring expertise, and selectivity around basis, sponsorship, and downside protection. SUNS is well-positioned to capitalize on this environment, balancing growth with risk management and long-term shareholder value. With that, I will now turn the call over to Brandon Hetzel, our Chief Financial Officer.
Thank you, Brian. For the quarter ended March 31, 2026, we generated net interest income of $7.3 million and distributable earnings of $4.7 million or $0.35 per basic weighted average common share, and had GAAP net income of $4.3 million or $0.32 per basic weighted average common share. The quarter included one-time fees from two investments, a $400,000 fee on the short-term Silver Mountain Ranch Bridge loan and a $1.2 million prepayment fee on the Boehme loan. We believe that providing distributable earnings is helpful to shareholders in assessing the overall performance of SUNS business. Distributable earnings represents net income computed in accordance with GAAP, excluding non-cash items such as stock compensation expense, unrealized gains or losses, and the provision for current expected credit losses.
We ended the first quarter of 2026 with $397.1 million of current commitments and $299.3 million of principal outstanding spread across 15 loans. As of May 8th, 2026, our portfolio consisted of $380.2 million of current commitments and $292.1 million of principal outstanding across 14 loans. All loans are current and performing with a weighted average portfolio yield to maturity of approximately 12.4%.
As of March 31, 2026, our CECL reserve was approximately $550,000, or 19 basis points for our loans at carrying value. As of March 31, 2026, we had total assets of $330 million, and our total shareholder equity was $182.5 million with a book value of $13.50 per share. For the quarter ending March 31, 2026, the board of directors declared a $0.30 dividend per share outstanding. The dividend was paid on April 15, 2026 to shareholders of record as of March 31, 2026. With that, I'll now turn it back over to the operator to start the Q&A.
Thank you. As a reminder, to ask a question, you will need to press star one one on your telephone and wait for your name to be announced. To withdraw your question, please press star one one again. Please stand by while we compile the Q&A roster. One moment for our first question. Our first question will come from the line of Gaurav Mehta from Alliance Global Partners. Your line is open.
Yeah, thank you. Good morning. I wanted to go back to your comments around the pipeline and wanted to get some more color on what you guys were seeing for acquisition financing versus refinancing. Within the current pipeline, what's the sort of mix between different kind of property types?
Sure. It's Brian. Thanks for the question. The pipeline, you know, as mentioned in the prepared remarks, there has definitely been. It's clear that the banks have returned on more of the most stabilized of assets, multi-family, industrial, existing assets, standing assets. Spreads have come in, as you know. That has not been our focus. What we're seeing a lot of is the opportunity and a big void as a result of these lenders focusing and some of our competitors focusing on industrial and multi stabilized. A big opportunity and void in the markets for more transitional product. That could include multi-family. It does include multi-family. We're seeing more transitional assets. Certainly some in the bifurcation between acquisition and refinancings.
On the refinancing side, we're seeing opportunities where the sponsors need to inject existing incremental equity to see them through to the stabilization period. That's, there's a series of deals that we're focusing on there. Across asset classes, anything with any degree of complexity is really creating a separation from our side and others. Those have really been the big areas that we've been focusing on. That's what really makes up the majority of our pipeline.
Okay. Thanks for that color. As a follow-up on regions in the prepared remarks, you talked about Florida and some Southeast markets seeing demand, and then you highlighted some markets still seeing supply. I guess in terms of capital deployment, should we expect that you would be more focused on Florida and other markets where you're seeing demand or you could be open to other opportunities in some other markets where there's still supply and maybe sort of reset the opportunities that you talked about?
I would expect the majority of our deals will continue to be in those southern states that we have focused on. That's really been our focus. That's where we think we have a bit of a competitive advantage. That's the path of growth, and that continues to be the case. We're seeing that now more pronounced than we've seen in a while now. As we mentioned on the West Coast, there's been certainly in some of the Sun Belt states, there's been some supply overhang. We're seeing that absorb in the markets that we're focusing on. That's the majority of our pipeline, majority of what we're doing. You know, as always, opportunistically, we will find interesting deals away from that. I would expect a huge majority in our core markets.
Okay. Thanks. Last question on the REO. Is that asset currently being marketed for sale? I know earlier you said that you guys received few offers and it could be all cash sales or you could do some lower leverage financing. Have you accepted the offer or is it still in the market?
Good question. It's still in the market with Eastdil. We haven't accepted an offer. We're evaluating a number of opportunities, and we will tell you as soon as we accept an offer.
Okay. Maybe lastly, on the balance sheet, the investment in real estate JV, that's the REO asset that you talked about?
Yes, correct.
Okay. Thank you. That's all I had.
Thank you.
Thank you. Our next question will come from line of Jade Rahmani from KBW. Your line is open.
Hi, it's Jason Sapshin on for Jade. Thanks for taking the question. To start, do you expect to generate any near-term income from the San Antonio JV? You mentioned a few possible outcomes, but is there one that you see as most likely, and what would the timeline to exit be? Thanks.
One of the things that I've given back to the quarter is, on the negative side, even though I think we did have a very good quarter, is we didn't get any income from the hotel. Probably not getting income from the hotel this quarter, in the current quarter. In the next quarter, we'll have to see because it's, I think it does get resolved, in a reasonable timeline, but I think it's over the next couple of quarters. We don't anticipate any income from the hotel until it gets sold or we have a note attached to it.
Got it. Thanks. Separately, it was just you touched on it, but could we just have some more color on what drove up interest income during the quarter? I know you mentioned $400,000 fee in a short-term loan and $1.2 million prepay fee, but and there was also the new hospitality loan. Was there anything else? It was up $3.1 million quarter-over-quarter, so just curious.
Yeah. You just touched on the majority of the increase. As mentioned, $1.2 million prepayment fee related to the Boehme loan. That also included accretion of unaccreted OID related to that loan. Second was the short-term bridge loan we did to Silver Mountain Ranch, which contributed about $400,000 to the interest income. On top of that is the new investment, which was about $48 million into the Graduate Hotels investment. Those three drivers were the main increase as well as additional construction fundings of our construction loans on the normal cadence.
Got it. Thanks. On the short-term loan, just curious, how large was that loan?
The entire loan was approximately $21 million. SUNS portion was about $14 million. That loan was outstanding for about one week.
Got it. Thanks. Lastly, just on forward originations, what would be the target mix of senior and subordinate going forward? Currently, you're around 75% senior, so just curious.
Yeah. I would think it would be somewhere in that range. The majority of what we're doing is on the senior side. We'll selectively find interesting, relatively low levered sub debt tranches, which we have in the past. Sometimes those are senior lenders approaching us and asking us if we wanna team with them. We're doing more and more of that now, as we create more relationships with seniors. We'll continue to have the majority, super majority be on the senior side.
Thanks.
Sure.
Thank you. Our next question will come from the line of Timothy D'Agostino from B. Riley Securities. Your line is open.
Yeah. Hi, good morning. Thanks for taking the question. Congrats on the quarter. Looking at slide 11 in the deck, you know, looking through the deals sourced all the way down to SUNS loan funded. You know, over the past couple of quarters, deal selectivity has kind of hovered around this 1.5%. I guess, you know, you provide a lot of commentary on call, but I guess, what would you need or want to see in the market for your selectivity to go up? You know, so I know you talked about balancing growth versus risk, but just kind of understanding at what point, like, what would you need to see for you to start selecting more deals and growing the portfolio? Thank you.
Yeah, I think it's two things. One, none of us in the market being optimistic have thought about or been as happy of the sort of collapse in the market in terms of, you know, really interesting opportunistic loans at big discounts, right? That hasn't presented itself to any great size, much to everyone's chagrin. I mean, if that sort of happens more when we have seen banks more willing to enter into DPO with existing borrowers, where we then can team up with those borrowers, that certainly would create it. The other big thing is just generally more acquisition volume. What happened in the last quarter that we saw is acquisition volume increased pretty significantly.
I think if that's sustained, right, and rates stabilize and start coming down, which is obviously, it's unclear right now, but that will eventually happen. That will bring about more investment activity. That will create more of an opportunity for us, and particularly, in those transitional type loans, where we're, again, just to repeat myself, we're seeing a big divergence in the majority of the competitors who are focusing on more stabilized assets. Those transitional type deals, which will happen more and more as rates come down, will create many more opportunities for us, and that, I think, will increase our volume for sure.
Okay, great. That's super helpful. I guess just across the markets you're in, I know you also speak to, you know, making opportunistic investments. I guess, have there been any new markets that stand out to you all? Just trying to get a better sense of what you're looking at and, you know, what's interesting and what's out there. Thank you.
Sure. Well, I hate to be boring, but the reality is that the deals that have been most interesting have been in those southern markets that we've continued to collectively all talk about. It's interesting, data I recently saw is I thought there was gonna be a lull in, pick your markets, Florida, parts of Texas, or let's just focus on Florida for a second, where, you know, you had that massive in-migration that was more getting back to equilibrium. Recently, I've seen a big uptick in the continued migration into Florida. I mean, we have a big development, as you guys know, in Florida, Panther National, home sales.
We talk to that group significantly or frequently, and we've seen just a tremendous increase in volume of homeowners wanting to migrate here. It seems like that's picked up a bit, and that has knock-on effects for retail demand and for rental demand. Those are the markets that we still see are interesting, and they're boring in the sense that we continue to do them, but those are the ones that are fun. Selectively, it's out, as I mentioned earlier, it's opportunistically, there are deals we're seeing in other markets that are interesting out west.
For the most part, we're sticking to what we're seeing as the real interesting opportunities.
Okay. That, that's great commentary. Thank you so much, and congrats on the quarter again.
Thank you.
Once again, star one one for questions. Our next question will come from the line of Tyler Batory from Oppenheimer. Your line is open.
Good morning. Thanks for taking my questions here. Just first one for me on the outlook this year. There were some one-time items obviously positively impacting Q1, contributing to that $0.35 distributable EPS. What's a good run rate to think about in terms of distributable earnings this year? Are you still thinking in line with the dividend or covering the dividend? Is that a good way to think about things?
What? Do you wanna answer that, Brendan?
Sure. You know, we won't give specific guidance on projections for distributable earnings throughout the year, but we will say that, you know, from time to time, we'll have various fees that can positively impact our income, and that's normal course of business for these types of loans. You know, as you mentioned, the Q1 distributable earnings benefited from those two short-term items. The board doesn't underwrite the dividend based on one quarter at a time. They look at the medium-term earnings power of the portfolio, you know, including expected fundings and existing commitments, repayments, leverage capacity, and forward origination. We won't give specific guidance going forward, but we did wanna point out those short-term items, so you could back into the run rate.
Okay. Appreciate that. In terms of repayments, $70 million odd this quarter, a couple of those were well before maturity too. Just trying to understand why, if that's maybe a bigger trend that might be going on or playing out in the portfolio, in terms of some loans being repaid earlier than expected.
Yeah, sure. It's actually only one that was repaid early, the Boehme loan. The rest of the $70 million was one, the short-term loan that was in and out during the period, as well as repayments and draws around the Panther National loan. That's a revolving loan where they'll draw and repay and that gets grossed up into those repayment numbers.
Okay.
In other words, we're not seeing anything abnormal.
Okay. That's what I was trying to get at. Thank you. Just the last one for me. The San Antonio issue, you know, I think it snuck up on us. I just wanted to be sure when you look across the rest of the portfolio that there's nothing that is concerning, nothing that's you know, that you're watching closely in terms of a potential negative outcome similar to what happened in San Antonio.
Yeah. I get that it did sneak up on some people. It did happen relatively quickly as well. We do expect a resolution in the coming quarters and not too bad a resolution. I don't think right now there's nothing else on watch list, not one other thing on watch list. You know, things are obviously doing a little bit better, a little bit worse, but everything is right within the tolerances of our plan.
Okay. Very helpful. I'll leave it there. Thank you.
Thank you. I'm not showing any further questions in the queue. I will now turn it back over to Brian Sedrish for closing remarks.
Thank you all for joining our Q1 call today. We are excited about the opportunity set ahead of us and look forward to sharing our progress with you over the coming quarters. Have a good rest of your week.
Thank you for your participation in today's conference. This does conclude the program. You may now disconnect. Everyone, have a great day.
Investor releaseQuarter not tagged2026-05-13Sunrise Realty Trust Inc (SUNS) Q1 2026: Everything You Need To Know Ahead Of Earnings
GuruFocus.com
Sunrise Realty Trust Inc (SUNS) Q1 2026: Everything You Need To Know Ahead Of Earnings
This article first appeared on GuruFocus. Sunrise Realty Trust Inc (NASDAQ:SUNS) is set to release its Q1 2026 earnings on May 14, 2026. The consensus estimate for Q1 2026 revenue is $6.57 million, and the earnings are expected to come in at $0.26 per share. The full year 2026's revenue is expected to be $26.39 million and the earnings are expected to be $1.12 per share. More detailed estimate data can be found on the Forecast page. Warning! GuruFocus has detected 4 Warning Signs with SUNS. Is SUNS fairly valued? Test your thesis with our free DCF calculator. Revenue estimates for Sunrise Realty Trust Inc (NASDAQ:SUNS) have declined from $36.23 million to $26.39 million for the full year 2026 and from $44.20 million to $26.70 million for 2027 over the past 90 days. Earnings estimates have declined from $1.26 per share to $1.12 per share for 2026, while they have increased from $1.16 per share to $1.23 per share for 2027 over the same period. In the previous quarter ending on December 31, 2025, Sunrise Realty Trust Inc's (NASDAQ:SUNS) actual revenue was $6.48 million, which missed analysts' revenue expectations of $8.20 million by -21.04%. Sunrise Realty Trust Inc's (NASDAQ:SUNS) actual earnings were $0.12 per share, which missed analysts' earnings expectations of $0.293 per share by -59.04%. After releasing the results, Sunrise Realty Trust Inc (NASDAQ:SUNS) was down by -2.09% in one day. Based on the one-year price targets offered by 3 analysts, the average target price for Sunrise Realty Trust Inc (NASDAQ:SUNS) is $11.58 with a high estimate of $15.00 and a low estimate of $8.75. The average target implies an upside of 57.38% from the current price of $7.36. Based on GuruFocus estimates, the estimated GF Value for Sunrise Realty Trust Inc (NASDAQ:SUNS) in one year is $0, suggesting a downside of -100% from the current price of $7.36. Based on the consensus recommendation from 5 brokerage firms, Sunrise Realty Trust Inc's (NASDAQ:SUNS) average brokerage recommendation is currently 2.2, indicating an "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Investor releaseQuarter not tagged2026-05-07BGC Group (BGC) Matches Q1 Earnings Estimates
Zacks
BGC Group (BGC) Matches Q1 Earnings Estimates
BGC Group (BGC) came out with quarterly earnings of $0.41 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +1.24%. A quarter ago, it was expected that this brokerage company would post earnings of $0.29 per share when it actually produced earnings of $0.31, delivering a surprise of +6.9%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. BGC Group, which belongs to the Zacks Financial - Investment Bank industry, posted revenues of $955.48 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 3.16%. This compares to year-ago revenues of $664.24 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. BGC Group shares have added about 22% since the beginning of the year versus the S&P 500's gain of 7.6%. While BGC Group has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for BGC Group was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It w...
Investor releaseQuarter not tagged2026-04-15Sunrise Realty Trust Schedules Earnings Release and Conference Call for the First Quarter Ended March 31, 2026
GlobeNewswire
Sunrise Realty Trust Schedules Earnings Release and Conference Call for the First Quarter Ended March 31, 2026
WEST PALM BEACH, Fla., April 15, 2026 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (“SUNS”) (Nasdaq: SUNS), a lender on the Tannenbaum Capital Group (“TCG”) Real Estate platform, today announced that it will release its financial results for the first quarter ended March 31, 2026, on Thursday, May 14, 2026, before market open. Management will review SUNS’ financial results at 10:00 am ET via webcast available on the Investor Relations website at ir.sunriserealtytrust.com. Participants are also invited to access the conference call by registering in advance at this link. A replay will be available one hour after the event. SUNS distributes its earnings releases via its website and email lists. Those interested in receiving firm updates by email can sign up for them here. About Sunrise Realty Trust, Inc. Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS”) is an institutional commercial real estate (“CRE”) lender providing flexible financing solutions to sponsors of CRE projects primarily in the Southern United States. It focuses on transitional CRE business plans with the potential for near-term value creation, collateralized by top-tier assets predominantly located in established and rapidly expanding Southern markets. For additional information regarding SUNS, please visit www.sunriserealtytrust.com. About TCG Real Estate TCG Real Estate refers to a group of affiliated CRE-focused debt funds, including a Nasdaq-listed mortgage real estate investment trust (“REIT”), Sunrise Realty Trust, Inc. (Nasdaq: SUNS), and a private mortgage REIT, Southern Realty Trust Inc. The funds provide flexible financing on transitional CRE properties that present opportunities for near-term value creation, with a focus on top-tier CRE assets located primarily within markets in the Southern U.S. benefiting from economic tailwinds with growth potential. For additional information regarding TCG, please visit www.theTCG.com. Investor Relations Contact Robyn Tannenbaum 561-510-2293 [email protected] Media Contact Doug Allen Dukas Linden Public Relations 646-722-6530 [email protected]
Investor releaseQuarter not tagged2026-03-13Sunrise Realty Trust Inc (SUNS) Q4 2025 Earnings Call Highlights: Strong Loan Origination Amid ...
GuruFocus.com
Sunrise Realty Trust Inc (SUNS) Q4 2025 Earnings Call Highlights: Strong Loan Origination Amid ...
This article first appeared on GuruFocus. Revenue: Not explicitly mentioned in the transcript. Distributable Earnings: $0.27 per share for the fourth quarter; $1.19 per share for the full year 2025. Net Income: $1.6 million or $0.12 per share for the fourth quarter; $12.1 million or $0.93 per share for the full year 2025. Net Interest Income: $5.2 million for the fourth quarter; $21.6 million for the full year 2025. Loan Commitments: $368 million closed in fiscal year 2025; $247 million committed by SUNS; $224 million funded. Repayments: $52 million received in fiscal year 2025. Portfolio Yield: Weighted average yield to maturity of approximately 12% as of February 27, 2026. Total Assets: $310.2 million as of December 31, 2025. Total Shareholder Equity: $182 million as of December 31, 2025. Book Value: $13.56 per share as of December 31, 2025. Dividend: $0.30 per share declared for the quarter ended March 31, 2026. Revolving Credit Facility: Increased to $165 million, expandable to $200 million. Warning! GuruFocus has detected 3 Warning Sign with SUNS. Is SUNS fairly valued? Test your thesis with our free DCF calculator. Release Date: March 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Sunrise Realty Trust Inc (NASDAQ:SUNS) closed on $368 million of loans in 2025, with $247 million committed and $224 million funded, showcasing strong loan origination capabilities. The company increased its revolving credit facility to $165 million, with the potential to expand to $200 million, enhancing its financial flexibility. SUNS generated distributable earnings of $0.27 per share for the fourth quarter, with a declared dividend of $0.30 per share for the next quarter, indicating a commitment to shareholder returns. The portfolio is well-positioned with 97% of the outstanding principal being floating rate, which could benefit from rising interest rates. The company focuses on structured and bespoke solutions for transitional real estate business plans, allowing it to capture compelling risk-adjusted opportunities. The foreclosure on the Thompson Hotel in San Antonio impacted distributable earnings by $0.03 per share, highlighting challenges in the hospitality sector. Market volatility and rising interest rates have created uncertainty, affecting the investment opportunity landscape. The loan pipeline decrea...
Investor releaseQuarter not tagged2026-03-13Sunrise Realty Trust, Inc. Q4 2025 Earnings Call Summary
Moby
Sunrise Realty Trust, Inc. Q4 2025 Earnings Call Summary
Performance in Q4 2025 was primarily impacted by the foreclosure of the Thompson Hotel in San Antonio, which reduced distributable earnings by approximately $0.03 per share due to nonaccrual status. Management attributes the hotel's underperformance to a surge in local market deliveries and slower-than-expected operational ramp-up, rather than systemic portfolio weakness. The company is pivoting from a passive lender to an active owner of the Thompson Hotel, intending to hire a premier broker to market the asset and recover value through a sale and personal guarantees. Strategic positioning remains focused on the Southern United States, targeting transitional real estate where 'bespoke' structures offer higher risk-adjusted returns than commoditized multifamily or industrial sectors. The TCG real estate platform affiliation provides Sunrise with scalable infrastructure and the ability to participate in larger transactions than its standalone balance sheet would allow. Operational focus is shifting toward 'off-the-run' transactions where market dislocation and rate volatility create gaps that traditional lenders avoid. Management emphasized a disciplined approach to capital deployment, choosing to be 'discerning' rather than stretching for volume in a tightening spread environment. The $0.30 per share dividend for Q1 2026 reflects the Board's confidence in the medium-term earnings power of the business, despite current coverage gaps. Future earnings momentum and borrowing capacity are heavily dependent on the swift resolution and sale of the Thompson Hotel asset. Management anticipates continued market volatility due to fluctuating Treasury rates, which may delay some acquisitions but create new opportunities for structured lending. The company expects to expand its net interest margin by leveraging its credit facility, which has a 2.6% floor, against a loan portfolio with weighted average floors of 3.9%. The investment pipeline was intentionally culled to $652 million to focus exclusively on highly actionable deals amidst current macroeconomic uncertainty. The revolving credit facility was increased to $165 million following the addition of Customers Bank, with a path to expand to $200 million. The Thompson Hotel foreclosure has temporarily restricted the company's borrowing base, as the asset can no longer be leveraged under current facility terms. A CECL r...
Investor releaseQuarter not tagged2026-03-12Sunrise Realty Trust, Inc. Announces Financial Results for the Fourth Quarter and Full Year 2025
GlobeNewswire
Sunrise Realty Trust, Inc. Announces Financial Results for the Fourth Quarter and Full Year 2025
Fourth quarter 2025 GAAP net income of $1.6 million or $0.12 per basic weighted average common share and Distributable Earnings(1) of $3.5 million or $0.27 per basic weighted average common share Full year 2025 GAAP net income of $12.1 million or $0.93 per basic weighted average common share and Distributable Earnings of $15.2 million or $1.19 per basic weighted average common share Board of Directors declares a first quarter 2026 dividend of $0.30 per common share WEST PALM BEACH, Fla., March 12, 2026 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”), a lender on the Tannenbaum Capital Group (“TCG”) Real Estate platform, today announced its results for the fourth quarter and year ended December 31, 2025. SUNS reported generally accepted accounting principles (“GAAP”) net income of $1.6 million for the fourth quarter of 2025, or $0.12 per basic weighted average common share, and Distributable Earnings of $3.5 million, or $0.27 per basic weighted average common share. The Company reported GAAP net income of $12.1 million for the 2025 fiscal year, or $0.93 per basic weighted average common share, and Distributable Earnings of $15.2 million, or $1.19 per basic weighted average common share. Brian Sedrish, Chief Executive Officer of SUNS, said, “Looking ahead to 2026, we continue to see a clear bifurcation in the commercial mortgage REIT landscape between lenders that are positioned to originate new loans and those that remain focused primarily on asset management. SUNS’ strategy is designed for this environment: we are a lower-leverage lender that prioritizes real estate fundamentals and structured solutions for transitional assets in the Southern U.S. As larger lenders concentrate further on multifamily and industrial, we believe a meaningful portion of the transitional lending market will remain underserved, creating an opportunity set where SUNS can continue to be selective and pursue compelling, risk-adjusted returns.” Common Stock Dividend On March 10, 2026, the Company’s Board of Directors declared a regular cash dividend of $0.30 per common share for the first quarter of 2026. The first quarter dividend will be payable on April 15, 2026, to shareholders of record as of March 31, 2026. Additional Information SUNS issued a presentation, titled “Fourth Quarter and Full Year 2025 Investor Presentation,” which can be view...