Sunrise Realty Trust, Inc. Announces Financial Results for Fourth Quarter and Year Ended 2024

Core Insights - Sunrise Realty Trust, Inc. reported a GAAP net income of $1.9 million or$0.27 per basic weighted average common share for Q4 2024, and a total GAAP net income of $6.9 million or$1.01 per share for the year 2024 [2][8] - The company declared a regular cash dividend of $0.30 per common share for Q1 2025, payable on April 15, 2025 [4] - The CEO highlighted the company's momentum, with$75 million in deals committed in Q4 2024 and an additional $74.8 million committed post-quarter-end [3] Financial Performance - For Q4 2024, Distributable Earnings were reported at$2.0 million or $0.30 per basic weighted average common share, while for the year 2024, Distributable Earnings totaled$7.2 million or $1.07 per share [2][8] - The company achieved net interest income of$3.4 million for Q4 2024 and $10.6 million for the year [16] - Total expenses for Q4 2024 were$1.6 million, with management and incentive fees accounting for $393,063 and general and administrative expenses at$697,204 [16] Corporate Actions - The company filed its Annual Report on Form 10-K for the year ended December 31, 2024, with the SEC on March 6, 2025 [5] - A conference call was scheduled for March 6, 2025, to discuss the business update and financial results [7] - The company emphasizes the importance of its website for investor relations and material information disclosure [6]