Insider Buying: Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Buys 39,000 Shares of Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 39,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was bought at an average cost of $13.42 per share, with a total value of $523,380.00. Following the completion of the acquisition, the chairman now owns 1,373,376 shares in the company, valued at $18,430,705.92. This represents a 2.92 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Sunrise Realty Trust Stock Down 1.5 %

NASDAQ:SUNS traded down $0.20 during mid-day trading on Wednesday, reaching $13.23. 127,312 shares of the company were exchanged, compared to its average volume of 70,841. Sunrise Realty Trust, Inc. has a 12 month low of $8.11 and a 12 month high of $15.74. The firm’s fifty day moving average is $14.58.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SUNS shares. Raymond James initiated coverage on shares of Sunrise Realty Trust in a report on Thursday, October 3rd. They issued an “outperform” rating and a $17.50 target price on the stock. StockNews.com upgraded Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st.

Institutional Trading of Sunrise Realty Trust

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

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.