For the first quarter of 2026, SUNS reported generally accepted accounting principles ("GAAP") net income of $4.3 million, or $0.32 per basic weighted average common share, and Distributable Earnings of $4.7 million, or $0.35 per basic weighted average common share.
Brian Sedrish, Chief Executive Officer of SUNS, said, "During the quarter, we continued to see a clear divergence between groups that are on offense and those that remain on defense as they work through their legacy loan books and look to shore up their balance sheets. Focusing on those that remained on offense, the bulk of capital continued to be directed at financing existing multifamily and industrial assets at low financing spreads, which has left a noticeable gap in capital available to finance transitional business plans. The result is that our team has continued to see an increase in attractive pipeline opportunities where SUNS can pair its expertise with the needs of sponsors executing transitional plans. We remain focused on building a diversified portfolio of loans across geographies, asset classes, and borrowers, and we believe a patient and deliberate approach to identifying and closing on select opportunities is warranted."
Common Stock Dividend
On April 15, 2026, the Company paid a cash dividend of $0.30 per common share for the first quarter of 2026. SUNS distributed $4.1 million in dividends, or $0.30 per common share, compared to Distributable Earnings of $0.35 per basic weighted average common share for such period.
Additional Information
SUNS issued a presentation, titled "First Quarter 2026 Investor Presentation," which can be viewed at www.sunriserealtytrust.com under the Investor Relations section. The Company also filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, with the Securities and Exchange Commission (the "SEC") on May 14, 2026.
SUNS routinely posts important information for investors on its website, www.sunriserealtytrust.com. The Company intends to use this webpage as a means of disclosing material information, for complying with our disclosure obligations under Regulation FD and to post and update investor presentations and similar materials on a regular basis. SUNS encourages investors, analysts, the media and others interested in SUNS to monitor the Investors section of its website, in addition to following its press releases, SEC filings, public conference calls, presentations, webcasts and other information posted from time to time on the website. To sign-up for email-notifications, please visit the "Email Alerts" section of the website under the "IR Resources" section.
Conference Call & Discussion of Financial Results
SUNS will host a conference call at 10:00 am (Eastern Time) on Thursday, May 14, 2026, to provide an update on the business. All interested parties are welcome to participate. The call will be available through a live audio webcast at the Investor Relations section of SUNS's website found here: SUNS -- Investor Relations. To participate via telephone, please register in advance at this link. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call. The complete webcast will be archived for 90 days on the Investor Relations section of the SUNS website.
About Sunrise Realty Trust, Inc.
Sunrise Realty Trust, Inc. (NASDAQ:SUNS) ("SUNS" or the "Company") is an institutional commercial real estate ("CRE") lender providing flexible financing solutions to sponsors of CRE projects primarily in the Southern United States. It focuses on transitional CRE business plans with the potential for near-term value creation, collateralized by top-tier assets predominantly located in established and rapidly expanding Southern markets. For additional information regarding the Company, please visit www.sunriserealtytrust.com.
About TCG Real Estate
TCG Real Estate refers to a group of affiliated CRE-focused debt funds, including a Nasdaq-listed mortgage real estate investment trust ("REIT"), Sunrise Realty Trust, Inc. (NASDAQ:SUNS), and a private mortgage REIT, Southern Realty Trust Inc. The funds provide flexible financing on transitional CRE properties that present opportunities for near-term value creation, with a focus on top-tier CRE assets located primarily within markets in the Southern U.S. benefiting from economic tailwinds with growth potential. For additional information regarding TCG Real Estate, please visit www.theTCG.com.
Non-GAAP Metrics
In addition to using certain financial metrics prepared in accordance with GAAP to evaluate our performance, we also use Distributable Earnings to evaluate our performance excluding the effects of certain transactions and GAAP adjustments we believe are not necessarily indicative of our current loan activity and operations. Distributable Earnings is a measure that is not prepared in accordance with GAAP. Distributable Earnings and the other capitalized terms not defined in this section have the meanings ascribed to such terms in our most recently filed quarterly report. We use this non-GAAP financial measure both to explain our results to shareholders and the investment community and in ...
