Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Purchases $523,380.00 in Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum acquired 39,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average cost of $13.42 per share, for a total transaction of $523,380.00. Following the transaction, the chairman now owns 1,373,376 shares of the company’s stock, valued at $18,430,705.92. This represents a 2.92 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sunrise Realty Trust Stock Performance

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

Analyst Upgrades and Downgrades

Separately, Raymond James assumed 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 target on the stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC bought a new position in shares of Sunrise Realty Trust in the third quarter valued at $28,000. Barclays PLC acquired a new stake in Sunrise Realty Trust in the third quarter valued at $106,000. Catalyst Capital Advisors LLC acquired a new stake in Sunrise Realty Trust in the third quarter valued at $125,000. Charles Schwab Investment Management Inc. bought a new position in shares of 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 about $372,000.

About Sunrise Realty Trust

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.