Sunrise Realty Trust Inc (SUNS) News & EventsSUNSSunrise Realty Trust Inc

Sunrise Realty Trust Receives Support for Merger Proposals

Sunrise Realty Trust announced that independent proxy advisory firms Institutional Shareholder Services and Glass Lewis each recommended that stockholders vote "FOR" both proposals at the company's October 23 special meeting of stockholders, consistent with the company's board of directors' unanimous recommendation: (1) approval of the issuance of approximately 8,464,955 shares of SUNS common stock in connection with the company's proposed merger with Southern Realty Trust and (2) adjournment of the special meeting, if necessary or appropriate, to solicit additional proxies in support of the stock issuance proposal. Institutional Shareholder Services issued its recommendation on October 1, and Glass Lewis on October 6.

Sunrise Realty Trust Authorizes $20M Stock Buyback

Sunrise Realty Trust announced that its board of directors authorized a common stock repurchase program to repurchase up to $20M of common stock through December 31, 2027. The repurchase program will become effective only upon closing of Sunrise Realty's proposed merger with Southern Realty Trust and no shares will be repurchased under the repurchase program before that time.

SUNS CEO Predicts Bifurcation in Commercial Mortgage Market by 2026

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."