Sunrise Realty Trust, Inc. ("SUNS" or "the Company") (NASDAQ:SUNS), a commercial real estate lender on the Tannenbaum Capital Group ("TCG") Real Estate platform, today provided a preliminary estimate of distributable earnings for the quarter ended March 31, 2025, and disclosed other portfolio level information.
Distributable Earnings & Book Value Per Share
SUNS' preliminary estimate of distributable earnings for the quarter ended March 31, 2025 is $0.30 to $0.32 per basic weighted average common share. This compares to distributable earnings of $0.30 for the quarter ended December 31, 2024. In addition, SUNS disclosed that it expects its book value per share to be $13.60 - $13.90 per share.
Portfolio and Originations
During the quarter ended March 31, 2025, the TCG Real Estate platform originated $212.5 million of loans, of which SUNS committed $147.5 million and funded $109.8 million of new and existing loans. As of March 31, 2025, the SUNS portfolio had $352.1 million of commitments with $233.4 million funded. As of April 18, 2025, the SUNS portfolio has $352.1 million of commitments with $235.4 million funded. Currently, the TCG Real Estate Platform has two signed, non-binding term sheets totaling $100 million in documentation, of which we expect SUNS to be allocated a portion.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.