Great Ajax Corp. (RPT) vs Sunrise Realty Trust, Inc. (SUNS)

Great Ajax Corp. and Sunrise Realty Trust, Inc. are both Reit Mortgage companies. Sunrise Realty Trust, Inc. is the larger, with a market value of $97.7M against $85.1M — 1.1× the size. Great Ajax Corp. has negative trailing earnings, so its P/E is not meaningful; Sunrise Realty Trust, Inc. trades at 7.4×. Sunrise Realty Trust, Inc. grew revenue faster over the last twelve months: 44.3% against −77.3%. Sunrise Realty Trust, Inc. has the higher net margin (53.3% vs −14.4%) and the higher return on invested capital (5.33% vs 0.27%). Across the 17 metrics below, Sunrise Realty Trust, Inc. leads on 14 and Great Ajax Corp. on 3.

Valuation

Metric RPT SUNS Reit Mortgage median
P/E n/m 7.39 7.80
P/S 5.56 3.92 1.90
P/B 0.36 0.53 0.61
Price to free cash flow n/m n/m 5.90
EV/EBITDA 117.77 6.66 28.40
EV/Sales 35.85 3.69 16.02
Earnings yield (2.41%) 13.53% 7.68%
Free cash flow yield (10.74%) (0.69%) 11.60%

Profitability

Metric RPT SUNS Reit Mortgage median
Gross margin 100.00% 100.00% 100.00%
Operating margin 21.02% 61.64% 35.40%
Net margin (14.42%) 53.33% 11.85%
Free cash flow margin (59.65%) (2.69%) 26.68%
Return on equity (0.91%) 7.11% 4.81%
Return on assets (0.22%) 4.43% 0.62%
Return on invested capital 0.27% 5.33% 1.22%

Growth

Metric RPT SUNS Reit Mortgage median
Revenue growth (TTM) (77.29%) 44.28% 4.70%
EPS growth (last fiscal year) 97.38% (7.00%) —
Revenue growth, 5-year CAGR (24.69%) — 14.60%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric RPT SUNS Reit Mortgage median
Debt to equity 1.84 0.00 3.30
Current ratio 1.00 0.06 1.00
Net debt to EBITDA 181.49 (0.49) 18.31

Dividend

Metric RPT SUNS Reit Mortgage median
Dividend yield 14.89% — 13.05%
Payout ratio 0.47 — 1.24

Size

Metric RPT SUNS Reit Mortgage median
Market cap 85.11m 97.72m 517.48m

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