Sunrise Realty Trust Announces the Successful Closing of a Senior Revolving Credit Facility up to $200 Million with an Initial $50 Million Commitment from East West Bank
Sunrise Realty Trust, Inc. (SUNS)
Last sunrise realty trust, inc. earnings: 2/20 04:01 pm
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Source: GlobeNewswire
WEST PALM BEACH, Fla., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) today announced the successful closing of a new senior secured revolving credit facility with East West Bank serving as agent and the initial lender (the “Revolving Credit Facility”). The Revolving Credit Facility provides access up to $200 million in borrowing capacity, subject to available borrowing base and additional commitments, with an initial commitment of $50 million. With favorable terms, including an interest rate of SOFR plus 2.75% (subject to a SOFR floor of 2.63% and other conditions), the Revolving Credit Facility offers SUNS flexibility to borrow and repay funds as needed. This facility strengthens SUNS’ ability to pursue strategic growth initiatives and capitalize on high-quality investment opportunities across the Southern United States. East West Bank, headquartered in Pasadena, California, is a leading financial institution with over $74.
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News
- Sunrise Realty Trust, Inc. (NASDAQ: SUNS) was upgraded by analysts at B. Riley to a "strong-buy" rating.MarketBeat
- Sunrise Realty Trust, Inc. (NASDAQ: SUNS) is now covered by analysts at B. Riley. They set a "buy" rating and a $15.00 price target on the stock.MarketBeat
- Sunrise Realty Trust Schedules Earnings Release and Conference Call for the Fourth Quarter and Full Year Ending December 31, 2024GlobeNewswire
- Sunrise Realty Trust, Inc. (NASDAQ: SUNS) is now covered by analysts at Keefe, Bruyette & Woods. They set an "outperform" rating and a $12.75 price target on the stock.MarketBeat
- Sunrise Realty Trust, Inc. (NASDAQ: SUNS) had its "outperform" rating re-affirmed by analysts at Raymond James. They now have a $15.00 price target on the stock, down previously from $17.50.MarketBeat
SUNS
Sec Filings
- 1/29/25 - Form 4
- 12/23/24 - Form 4
- 12/23/24 - Form 4
- SUNS's page on the SEC website