Sunrise Realty Trust, Inc.(US:SUNS)2025-11-13 15:00Company Overview - Sunrise Realty Trust (SUNS) is an institutional lender focused on originating and funding commercial real estate loans, primarily in the Southern United States[16] - The company targets a portfolio net internal rate of return (IRR) in the low-teens[16] - The management team has structured over $21 billion in CRE and credit transactions[16] Market Opportunity - Approximately $656 billion of CRE deals have been sourced by SUNS Manager and its affiliates since October 2023, with the company pursuing only about 16% of these deals[17] - Over $2 trillion in CRE loans are maturing by the end of 2027, creating an opportunity for SUNS to scale quickly[17] - Target states in the Southern U S have experienced significant population and employment growth from Q4 2019 to Q2 2025, with total population increasing by 89% and total employment by 106%, outpacing the rest of the U S [34] Portfolio Composition - As of November 3, 2025, total current commitments were $4211 million, with a principal balance of $2952 million and a weighted average yield to maturity of 118%[55] - Senior loans constitute 94% of the portfolio, while subordinate loans make up the remaining 6%[59] - Residential assets account for 62% of the portfolio, with geographic exposure concentrated in Florida (52%) and Texas (35%)[59] Financial Performance - For the three months ended September 30, 2025, net income was $405 million, or $030 per basic common share[66] - Distributable earnings for the same period were $412 million, or $031 per basic weighted average share[67] - Loans held for investment at carrying value, net of current expected credit loss reserve, totaled $25023 million as of September 30, 2025[65]