Sunrise Realty Trust (SUNS) Company Report

For the third quarter ended September 30, 2025, Sunrise Realty Trust (SUNS) generated distributable earnings of $0.31 per share and GAAP net income of $0.30 per share, covering its $0.30 dividend.
As of September 30, 2025, SUNS had $367 million of current commitments and $253 million of principal outstanding across 13 loans. By November 3, 2025, the portfolio grew to $421.1 million of current commitments and $295.2 million of principal outstanding across 16 loans, with a weighted average portfolio yield to maturity of approximately 11.8%.
The company reported a conservative leverage of approximately 0.4 times as of September 30, 2025, with a target of 1 to 1.5 times, significantly below the peer average, and focuses on originating transitional loans primarily in the southern United States.
SUNS is actively exploring preferred or unsecured debt offerings in the current or next quarter to enhance financing, emphasizing a strategy to avoid repo or warehouse lines to maintain lower leverage.

Nov 13, 2025, 3:00 PM

Transcript

Sunrise Realty Trust Reports Q3 2025 Earnings and Portfolio Growth

SUNS

Earnings

New Projects/Investments

Debt Issuance

Sunrise Realty Trust (SUNS) generated distributable earnings of $0.31 per share for the third quarter ended September 30, 2025, which covered its $0.30 per share dividend. The company also reported net interest income of $6.1 million and GAAP net income of $4.05 million, or $0.30 per basic weighted average common share, for the same period.
As of September 30, 2025, SUNS had $367 million of current commitments and $253 million of principal outstanding across 13 loans. By November 3, 2025, the portfolio grew to $421.1 million of current commitments and $295.2 million of principal outstanding across 16 loans, with a weighted average portfolio yield to maturity of 11.8%.
The company's leverage stood at approximately 0.4 times as of September 30, 2025, which is substantially below its targeted 1-1.5 times, as SUNS aims to achieve an investment-grade rating. SUNS is exploring a preferred or unsecured debt offering in the near future, with an estimated cost around 8%, as part of its financing strategy, preferring this over repo or warehouse lines.
SUNS' investment strategy focuses on transitional loans primarily in the southern U.S., with 95% of its loans being floating rate and an average SOFR floor of 4%, which could lead to additional income as SOFR drops. The Executive Chairman, Leonard Tannenbaum, who is the company's largest shareholder, continues to make frequent share purchases.

Nov 13, 2025, 3:00 PM

Transcript

SUNS Reports Q3 2025 Earnings and Portfolio Growth

SUNS

Earnings

Dividends

New Projects/Investments

For the third quarter ended September 30, 2025, Sunrise Realty Trust (SUNS) generated distributable earnings of $0.31 per share of common stock, which covered its $0.30 dividend.
As of September 30, 2025, SUNS had $367 million of current commitments and $253 million of principal outstanding across 13 loans, with these figures increasing to $421.1 million in commitments and $295.2 million of principal outstanding across 16 loans by November 3, 2025. The portfolio's weighted average yield to maturity was approximately 11.8% as of November 3, 2025.
The company's leverage was approximately 0.4 times as of September 30, 2025, which is substantially below its targeted leverage of 1-1.5 times, as SUNS aims to achieve an investment-grade rating within the next three to five years.
SUNS is actively expanding its pipeline, with two signed non-binding term sheets totaling approximately $170 million in documentation, and is exploring a preferred or unsecured debt offering for future financing.

Nov 13, 2025, 3:00 PM

Transcript

Sunrise Realty Trust Reports Q3 2025 Results

SUNS

Earnings

Dividends

New Projects/Investments

Sunrise Realty Trust (SUNS) reported net income of $4,054,959 and diluted earnings per common share of $0.30 for the three months ended September 30, 2025.
As of September 30, 2025, the company's total assets were $258,831,482 and total shareholders' equity was $184,611,571.
The company's current commitments stand at $421 million, with a portfolio of 16 investments primarily consisting of ~94% senior loans and ~62% residential assets, yielding an approximate 11.8% Yield to Maturity as of November 3, 2025.
SUNS has secured an East West Bank-led credit line of up to $200 million, with $140 million committed to the line as of Q3 2025, an increase from $50 million in Q1.
SUNS is an institutional lender to commercial real estate in the Southern U.S., intending to elect REIT status for the taxable year ended December 31, 2024, and targets a portfolio net internal rate of return in the low-teens.

Nov 13, 2025, 3:00 PM

Presentation

Sunrise Realty Trust Announces Third Quarter 2025 Financial Results

SUNS

Earnings

Dividends

New Projects/Investments

Sunrise Realty Trust (SUNS) reported a GAAP net income of $4.05 million or $0.30 per basic weighted average common share for the third quarter of 2025.
The company's Distributable Earnings for the third quarter of 2025 were $4.12 million or $0.31 per basic weighted average common share.
A cash dividend of $0.30 per common share for the third quarter of 2025 was paid on October 15, 2025.
CEO Brian Sedrish stated the company remains focused on originating loans to borrowers of transitional real estate assets primarily in the Southern United States, aiming to deliver a consistent and stable dividend, diversify its portfolio, and utilize efficiently priced financing for prudent growth.

Nov 13, 2025, 12:33 PM

Press Release

Sunrise Realty Trust Commits $30 Million to Houston Retail Property Refinancing

SUNS

New Projects/Investments

Debt Issuance

Sunrise Realty Trust (SUNS) has committed $30.0 million to a $45.0 million senior bridge loan for the refinancing of a 7-story Class-A retail property in the Galleria sector of Houston, Texas.
The loan was originated by TCG Real Estate, with affiliated lenders on the TCG Real Estate platform committing the remaining $15.0 million.
The Project, located at the intersection of Houston’s Galleria and River Oaks areas, is 100% fully-leased to high-end establishments including Park House Houston, Ciel Restaurant, and Fountain Life Longevity Center.

Oct 27, 2025, 12:00 PM

Press Release

Sunrise Realty Trust, Inc. Commits to Senior Loan for CollectionSuites Projects

SUNS

New Projects/Investments

Debt Issuance

Sunrise Realty Trust, Inc. (SUNS) committed $25.6 million to a $36.6 million senior loan commitment for the financing of CollectionSuites, an industrial-for-sale development located in Doral and Palm Springs, Florida.
The senior loan commitment was originated by TCG Real Estate, with affiliated lenders on the TCG Real Estate platform committing the remaining $11.0 million.
The Project Sponsor, JMF Consulting, is developing CollectionSuites as luxury industrial real estate featuring 21-foot ceilings, showroom-style layouts, and private clubhouses.

Oct 20, 2025, 12:00 PM

Press Release

Sunrise Realty Trust Commits to Miami Condominium Development Loan

SUNS

New Projects/Investments

Sunrise Realty Trust (SUNS) committed $35.0 million to a $370.0 million first mortgage loan for the Lofty & Standard, a two-tower condominium development in the Brickell neighborhood of Miami, Florida.
The Lofty & Standard project will include a 43-story north tower with 362 luxury units and a 45-story south tower with 422 luxury units.
Affiliated lenders on the Tannenbaum Capital Group (TCG) Real Estate platform committed an additional $25.0 million to the first mortgage loan.
Brian Sedrish, CEO of SUNS, noted that the project fills a growing void in the Miami market for luxury products in a vibrant area, enhancing SUNS's portfolio of high-quality loans to commercial real estate projects in the Southern U.S..