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

Core Points - The company 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 ended 2024 [1][2] - Distributable Earnings for Q4 2024 were $2.0 million or$0.30 per share, while for the year ended 2024, it was $7.2 million or$1.07 per share [1][2] - The CEO highlighted the company's momentum since becoming an independent public company, committing to $75.0 million in deals in Q4 and an additional$74.8 million post-quarter [3] Financial Performance - Interest income for Q4 2024 was $3.6 million, with net interest income of$3.4 million after interest expenses [16] - Total expenses for Q4 2024 amounted to $1.6 million, leading to a net income before income taxes of approximately$1.9 million [16] - The company declared a regular cash dividend of $0.30 per common share for Q1 2025, payable on April 15, 2025 [4] Company Overview - Sunrise Realty Trust, Inc. is an institutional commercial real estate lender focusing on transitional commercial real estate in the Southern United States [8] - The company aims to provide flexible financing solutions and capitalize on near-term value creation opportunities [8][9] Additional Information - The company has made available an investor presentation and filed its Annual Report on Form 10-K with the SEC [5] - A conference call was scheduled to discuss financial results, allowing interested parties to participate [7]