Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Purchases 47,810 Shares

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum purchased 47,810 shares of Sunrise Realty Trust stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $13.39 per share, with a total value of $640,175.90. Following the transaction, the chairman now owns 1,318,573 shares in the company, valued at approximately $17,655,692.47. The trade was a 3.76 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Sunrise Realty Trust Stock Down 1.5 %

SUNS stock opened at $13.23 on Thursday. Sunrise Realty Trust, Inc. has a twelve month low of $8.11 and a twelve month high of $15.74. The company has a 50 day moving average of $14.55.

Institutional Trading of Sunrise Realty Trust

Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new stake in shares of Sunrise Realty Trust during the third quarter worth approximately $28,000. Barclays PLC bought a new position in Sunrise Realty Trust during the third quarter worth about $106,000. Catalyst Capital Advisors LLC acquired a new stake in Sunrise Realty Trust in the 3rd quarter worth about $125,000. Charles Schwab Investment Management Inc. bought a new stake in Sunrise Realty Trust in the 3rd quarter valued at about $231,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Sunrise Realty Trust during the 3rd quarter worth approximately $372,000.

Wall Street Analysts Forecast Growth

SUNS has been the topic of a number of research reports. StockNews.com raised shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. Raymond James initiated coverage on shares of Sunrise Realty Trust in a research report on Thursday, October 3rd. They set an “outperform” rating and a $17.50 price target on the stock.

Sunrise Realty Trust Company Profile

Sunrise Realty Trust, Inc engages in commercial real estate (CRE) lending business. It focuses on originating CRE debt investments and providing capital to borrowers and sponsors with transitional business plans collateralized by CRE assets. The company intends to create a diversified investment portfolio, targeting investments in senior mortgage loans, mezzanine loans, whole loans, B-notes, CMBS, and debt-like preferred equity securities across CRE asset classes.