Leonard M. Tannenbaum Acquires 39,000 Shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 39,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average cost of $13.42 per share, for a total transaction of $523,380.00. Following the completion of the acquisition, the chairman now directly owns 1,373,376 shares in the company, valued at $18,430,705.92. The trade was a 2.92 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sunrise Realty Trust Trading Up 3.3 %

Shares of SUNS opened at $13.59 on Friday. Sunrise Realty Trust, Inc. has a 52 week low of $8.11 and a 52 week high of $15.74. The firm has a 50-day moving average of $14.49.

Hedge Funds Weigh In On Sunrise Realty Trust

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

Analyst Upgrades and Downgrades

Separately, 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 objective for the company.

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.