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Sunrise Realty Trust (SUNS) investor relations material
Sunrise Realty Trust Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Distributable earnings of $0.31 per share covered the $0.30 dividend for Q3 2025, with GAAP net income of $4.05 million ($0.30 per share), reflecting strong CRE lending and portfolio growth in the Southern U.S.
Management and largest shareholders express strong confidence, citing a meaningful discount to book value, stable dividend coverage, and significant ownership alignment.
Portfolio is conservatively positioned, with a weighted average loan-to-cost at closing of 56%, no loans originated before January 2024, and a focus on transitional assets.
The company is an institutional lender with a management team experienced in over $21 billion in CRE and credit transactions, and a current active pipeline of ~$1.7 billion.
Interest income and net income more than doubled year-over-year, driven by portfolio expansion and increased lending activity.
Financial highlights
Q3 2025 net interest income was $6.1 million; distributable earnings were $4.12 million ($0.31 per share); GAAP net income was $4.05 million ($0.30 per share); book value per share was $13.76 as of September 30, 2025.
Dividend of $0.30 per share declared and paid in October 2025, with a dividend yield of approximately 13% as of November 3, 2025.
As of November 3, 2025: $421.1 million in commitments, $295.2 million funded across 16 loans; weighted average yield to maturity of 11.8%.
Total assets as of September 30, 2025 were $258.8 million; total shareholder equity $184.6 million.
Loans held for investment at carrying value increased to $250.4 million from $130.7 million at year-end 2024.
Outlook and guidance
Management targets a portfolio net IRR in the low- to mid-teens, leverage ratio of 1 to 1.5 times, and aims to capitalize on a wave of over $2 trillion in CRE loan maturities by end of 2027.
Expects to capitalize on a growing pipeline, with two signed non-binding term sheets totaling $170 million in documentation.
Focus remains on scaling quickly in the Southern U.S., leveraging market dislocations and migration trends.
Management continues to target consistent dividends and prudent portfolio growth, with caution regarding inherent uncertainties.
Preferred/unsecured offering timeline?
Impact of bank re-entry on SUNS' strategy?
Outlook for SOFR floor net interest margin benefit?
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Next Sunrise Realty Trust earnings date
Q4 202520 Feb, 2026
Next Sunrise Realty Trust earnings date
Q4 202520 Feb, 2026
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Frequently asked questions
Sunrise Realty Trust Inc. is a commercial real estate lending company that specializes in originating and funding loans for real estate projects, primarily in the Southern United States. The company focuses on a diversified portfolio of CRE debt investments, including senior mortgage loans, mezzanine loans, whole loans, B-notes, and debt-like preferred equity securities. Sunrise Realty Trust aims to capitalize on opportunities in the CRE debt markets, particularly in regions experiencing significant population and employment growth. The company is headquartered in West Palm Beach, Florida, and its shares are listed on the NASDAQ.
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