Insider Buying: Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Purchases $640,175.90 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum purchased 47,810 shares of the company’s stock in a transaction on Monday, December 16th. The stock was acquired at an average price of $13.39 per share, for a total transaction of $640,175.90. Following the completion of the transaction, the chairman now owns 1,318,573 shares of the company’s stock, valued at $17,655,692.47. This represents a 3.76 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sunrise Realty Trust Trading Up 3.3 %

NASDAQ SUNS opened at $13.59 on Friday. Sunrise Realty Trust, Inc. has a 1 year low of $8.11 and a 1 year high of $15.74. The firm has a fifty day moving average of $14.49.

Wall Street Analyst Weigh In

Separately, Raymond James initiated coverage on shares of Sunrise Realty Trust in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $17.50 price objective on the stock.

Institutional Investors Weigh In On Sunrise Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC acquired a new position in shares of Sunrise Realty Trust in the 3rd quarter valued at $106,000. Geode Capital Management LLC purchased a new stake in Sunrise Realty Trust during the third quarter valued at about $1,785,000. State Street Corp acquired a new position in shares of Sunrise Realty Trust in the third quarter worth about $1,788,000. Wasatch Advisors LP purchased a new position in shares of Sunrise Realty Trust in the third quarter worth approximately $8,875,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Sunrise Realty Trust during the third quarter valued at approximately $231,000.

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.