SUNS
Sunrise Realty Trust, Inc.
Next earnings Aug 7, 2026 · consensus $0.28 EPS, $8.96M rev
Last earnings +9.1% on 2026-05-14
$8.19
▼ -3.42%$8.19▼ -17.87%
over 1Y
L $7.35H $10.62
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-3.4%
1W-4.7%
1M-6.3%
3M+6.5%
YTD-8.0%
1Y-17.9%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 10 analysts
Buy
Young CRE-debt REIT trading at ~0.63x book with a fat yield — real value cushion, but uncovered dividend and credit risk keep it a hold.
Price / book (derived) ~0.63x · FY2025
The read
Middling fundamentals offset by an attractive price (~332% below fair value) — worth a look on the value angle.
Sunrise Realty Trust is a real-estate-focused debt fund that originates secured CRE loans on transitional projects across the Southern U.S. It is brand new — formed August 2023, first investment January 2024, spun off from Advanced Flower Capital in July 2024 — and is externally managed within the TCG platform as an emerging-growth REIT. The growth optics are loud: FY2025 revenue more than doubled to $21.6M (+103%) and net income rose to $12.1M (+76.8%) on a fat 56.3% net margin. But that growth is off a near-zero base in a business with, in management's own words, 'limited operating history,' and the more telling fundamentals are softer — ROE is only 6.7% and diluted EPS actually slipped 7% to $0.93.
The core of the call is book value versus price. Equity of $182M (+59.4%) over 13.5M shares is roughly $13.48/share, so at $8.48 the stock trades near 0.63x book with conservative leverage (liabilities/equity just 0.70x, and liabilities fell 37% on the year). For a lender that discount is the bull case: the market is paying ~63 cents for a dollar of self-reported loan book, with a thin balance sheet that isn't over-levered. That is what holds this above 'sell.'
Is SUNS a buy? The one-page verdict, explained →
The options angle
model · matches our verdictCovered call~60d expiry
- Long 100 shares @ ~8.19
- Short call 8.5 @ ~0.43 est
debit $776max +$74max −$775BE 7.76
HOLD means own it, don't chase it — harvesting premium against the position matches the verdict.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY24 | FY25 |
|---|---|---|
| Revenue | $10.6M | $21.6M |
| Gross profit | — | — |
| Operating income | — | — |
| Net income | $6.87M | $12.1M |
| Diluted EPS | $1.00 | $0.93 |
| Net margin | 64.6% | 56.3% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)0.11
Earnings yield11.0%
FCF yield—
Quality & risk
ROIC (est.)—
Free cash flow—
Total debt—
Net cash$6.45M
Piotroski F-Score3/6
Capital returns
Buyback yield—
Dividend yield (est.)13.6%
Shareholder yield13.6%
Shares Δ YoY+0.7%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Shareholder vote2026-05-26
Annual meeting vote results: directors elected, routine proposals passed
- 8-K Earnings results2026-05-14
Q1 2026 (FY26) report; equity +59% YoY, leverage cut to 0.70x
- 10-Q Quarterly report2026-05-14
Q1 2026 (FY26) report; equity +59% YoY, leverage cut to 0.70x
- DEF 14A Proxy statement2026-04-15
Annual proxy: board slate and compensation up for shareholder vote
- 8-K Earnings results2026-03-12
FY2025: rev $21.6M (+103%), NI $12.1M; EPS -7% on dilution, cash drawn down
- 10-K Annual report2026-03-12
FY2025: rev $21.6M (+103%), NI $12.1M; EPS -7% on dilution, cash drawn down
- 8-K Material agreement2026-03-05
Entered new material agreement, likely financing to fund loan growth
- 8-K Earnings results2025-11-13
Q3 2025: continued revenue growth as CRE loan book expands
- 10-Q Quarterly report2025-11-13
Q3 2025: continued revenue growth as CRE loan book expands
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-05-262026-05-26open ↗8-KPeriod ending 2026-05-142026-05-14open ↗10-QPeriod ending 2026-03-312026-05-14open ↗ARSPeriod ending 2025-12-312026-04-15open ↗DEFA14AFiling2026-04-15open ↗DEF 14APeriod ending 2026-05-262026-04-15open ↗8-KPeriod ending 2026-03-122026-03-12open ↗10-KPeriod ending 2025-12-312026-03-12open ↗8-KPeriod ending 2026-02-272026-03-05open ↗4Period ending 2026-02-192026-02-23open ↗4Period ending 2026-02-192026-02-23open ↗4Period ending 2026-02-192026-02-23open ↗
Frequently asked
- Is Sunrise Realty Trust, Inc. (SUNS) a buy?
- SUNS currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Young CRE-debt REIT trading at ~0.63x book with a fat yield — real value cushion, but uncovered dividend and credit risk keep it a hold.
- What is SUNS's fair value?
- A Modified-Graham model based on SUNS's SEC fundamentals estimates a fair value of about $35.34. It is an estimate from reported earnings, not a price target.
- Is SUNS overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, SUNS currently appears undervalued relative to its SEC-grounded earnings power.
- What is Sunrise Realty Trust, Inc.'s quality score?
- SUNS scores 74.89324862477378/100 (grade B) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0002012706, latest 10-Q filed 2026-05-14) · EODHD · Proprietary analysis · as of 6/30/2026, 11:42:22 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 30, 2026, 7:42 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.