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Jun 30, 2024
Sunrise Realty Trust Inc Q2 2024 Earnings Report
Provided business update and announced dividends for Q3 and Q4 2024.
Key Takeaways
Sunrise Realty Trust, Inc. announced its dividends for the third and fourth quarters of 2024 and provided a business update. The company's portfolio is composed of new vintage assets, with the first loan closed in 2024, totaling $119.6 million of commitments, of which $96.2 million has been funded as of August 5, 2024.
Finalized spin-off on July 9, 2024, becoming a pure-play commercial real estate lender.
Portfolio consists entirely of new vintage assets with the first loan closed in 2024.
Current portfolio totals $119.6 million of commitments, with $96.2 million funded as of August 5, 2024.
Declared a partial Q3 2024 dividend of $0.21 per common share and a regular Q4 2024 dividend of $0.42 per common share.
Sunrise Realty Trust Inc
Sunrise Realty Trust Inc
Forward Guidance
The company is excited to continue deploying capital strategically, leveraging its strong pipeline of opportunities across high-growth regions in the Southern United States.