Sunrise Realty Trust, Inc. reported third-quarter GAAP net income of $2.9 million, or $0.21 per share, and Distributable Earnings of $3.2 million, or $0.24 per share, and completed its merger with Southern Realty Trust Inc. on November 5, 2026.
SUNS · Sunrise Realty Trust, Inc.
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Sunrise Realty Trust, Inc. completed its merger with Southern Realty Trust Inc. on November 5, 2026, issuing 8,464,977 shares and increasing shares outstanding to 21,980,828; it also authorized a $20.0 million stock repurchase program through December 31, 2027.
Sunrise Realty Trust completed its merger with Southern Realty Trust on November 5, 2026, issuing 8,464,975 shares and resulting in 21,980,826 shares outstanding at the effective time.
Sunrise Realty Trust stockholders approved issuance of approximately 8,464,955 shares in connection with the Southern Realty Trust merger. The company declared a $0.09 per share Stub Period Dividend, payable November 5, 2026 to holders of record November 2, 2026.
Sunrise Realty Trust is supplementing its proxy statement ahead of the October 23, 2026 special meeting on its Southern Realty Trust merger and announced a $20.0 million common stock repurchase program effective at closing, with at least $10.0 million to be repurchased promptly after.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY26 earnings call · Aug 6, 2026TL;DR. Sunrise Realty Trust reported Q2 2026 distributable earnings of $0.29/share, with H1 DE of $0.65/share exceeding dividends of $0.60/share, while announcing a definitive merger agreement to acquire Southern Realty Trust that would create a ~$290 million pro forma equity platform and lower the manager's incentive fee and hurdle rate.
- + Definitive merger agreement to acquire Southern Realty Trust would immediately grow equity base by ~60% to ~$290 million pro forma, expanding scale for unsecured financing and index inclusion.
- + Management agreement amendment tied to the merger lowers the incentive fee from 20% to 17.5%, the hurdle rate from 8% to 7%, and includes a $1 million aggregate management fee waiver over four quarters.
- + Panther National senior loan was repaid in full shortly after quarter end, redeploying capital into a ~12.3% weighted-average yield portfolio where all loans remain current.
- + H1 2026 distributable earnings of $0.65/share exceeded declared dividends of $0.60/share, indicating earnings coverage of the dividend.
- + TCG platform signed a $93 million senior construction term sheet for a Texas multifamily development to be structured on an A-note/B-note basis, expanding the transitional pipeline.
- − Thompson San Antonio owned hotel is being sold via purchase and sale agreement with non-refundable option payments, and SUNS/affiliates must provide seller financing to facilitate the buyer.
- − Pipeline transactions were paused during Q2 due to sponsor reassessment amid rate volatility, and conversion of financing requests remains dependent on pricing, structure, and sponsor alignment.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Technicals
trend & momentum for long-term holders NeutralIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Distributable Earnings non-GAAP | $3.9M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net income $3,076,025
+$297,484 Stock-based compensation expense
+$0 Depreciation and amortization
+$0 Unrealized (gains) losses, or other non-cash items
+$557,248 Provision for current expected credit losses
+$0 TRS (income) loss
+$0 One-time events pursuant to changes in GAAP and certain non-cash charges
= Distributable Earnings $3,930,757
|
|||
| Distributable Earnings per basic weighted average share non-GAAP | $0.65 | six months ended June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
REIT - Mortgage — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
SUNS
this stock
Sunrise Realty Trust, Inc.
|
$158.70M | -23.4% | +103.0% | 8.3 | 1.4% |
|
NLY
Annaly Capital Management Inc
|
$13.91B | -21.1% | — | 12.4 | 3.4% |
|
AGNC
AGNC Investment Corp.
|
$10.48B | -23.2% | — | — | 11.8% |
|
RITM
Rithm Capital Corp.
|
$5.01B | -17.7% | -6.7% | 14.2 | 5.8% |
|
STWD
Starwood Property Trust, Inc.
|
$4.13B | -37.0% | -5.3% | — | 5.5% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 10, 2026
- This year
- 23
Sunrise Realty Trust, Inc. completed its merger with Southern Realty Trust Inc. on November 5, 2026, issuing 8,464,977 shares and increasing shares outstanding to 21,980,828; it also authorized a $20.0 million stock repurchase program through December 31, 2027.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| SUNS | +6.8% | +13.0% | -15.1% | +9.2% | -23.4% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | +4.2% | +14.2% | -15.6% | +9.4% | -34.1% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.