10-K · March 12, 2026
Sunrise Realty Trust positions itself as a non-bank CRE lender focused on the Southern U.S., targeting senior mortgages, mezzanine/B-notes, CMBS and debt-like preferred equity with a portfolio IRR target in the…
Earnings analysis · 10-Q
SUNS earnings analysis
Filed May 14, 2026 · Our reading of the company's report
The latest report
In Q1 2026, Sunrise Realty Trust recorded a significant increase in revenue and net income, driven largely by a 107.2% surge in interest income to $10.3 million. EPS improved to $0.32 compared to $0.27 in Q1 2025.…
Read full summary
In Q1 2026, Sunrise Realty Trust recorded a significant increase in revenue and net income, driven largely by a 107.2% surge in interest income to $10.3 million. EPS improved to $0.32 compared to $0.27 in Q1 2025. Despite this growth, management noted challenges such as increased interest expenses due to higher borrowing levels. The company's cash holdings decreased slightly to $5.7 million, with strategic real estate financing noted as a focus area for future growth.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.32
What stood out
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Revenue Growth
Total revenue reached $10,272,686, rising 107.2% year-over-year from $4,958,523.
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Increased EPS
Earnings per share rose to $0.32, up from $0.27 in Q1 2025.
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Higher Net Income
Net income increased to $4,253,350 compared to $3,099,437 in the prior year.
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Robust Distributable Earnings
Distributable earnings improved to $4,683,595, or $0.35 per share, from $3,460,706.
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Portfolio Growth
Total loans held at carrying value decreased to $299,286,738 from $305,513,185.
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Liquidity Management
Cash on hand held at $5.7 million with adequate capacity under credit facilities.
What to watch
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Increased Interest Expenses
Interest expense surged to $2,967,637, up from $336,159, impacting margins.
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Credit Quality Concerns
CECL reserve balance was approximately $0.6 million, representing 0.19% of total loans.
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Concentration Risk
Top three borrowers represent approximately 43.8% of loans, raising exposure levels.
Management's outlook
Outlook included indications of continued focus on financing quality real estate with rising interest income.
Earlier filings 4
10-Q · August 7, 2025
Sunrise Realty Trust reported strong top-line and loan-portfolio growth in Q2 2025 with interest income of $6,752,679 (Q2 2025) versus $1,979,576 (Q2 2024) and diluted EPS of $0.25 (Q2 2025) versus $0.22 (Q2 2024).…
10-Q · May 7, 2025
Sunrise Realty Trust reported strong origination and interest income growth in Q1 2025: interest income rose to $4,958,523 (Q1 2025) from $2,026,306 (Q1 2024) and net income was $3,099,437 vs $1,762,345 a year ago. The…
10-K · March 6, 2025
Sunrise Realty Trust (SUNS) is an early-stage CRE lending REIT spun off on July 9, 2024 with approximately $114.8 million of net assets contributed at the Spin‑Off and a strategy to originate secured CRE loans…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.