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

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum purchased 39,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average price of $13.42 per share, for a total transaction of $523,380.00. Following the completion of the transaction, the chairman now directly owns 1,373,376 shares of the company’s stock, 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 is available through this hyperlink.

Sunrise Realty Trust Price Performance

Shares of SUNS opened at $13.15 on Friday. Sunrise Realty Trust, Inc. has a 52-week low of $8.11 and a 52-week high of $15.74. The business has a fifty day moving average of $14.52.

Wall Street Analyst Weigh In

Separately, Raymond James initiated coverage on Sunrise Realty Trust in a report on Thursday, October 3rd. They set an “outperform” rating and a $17.50 target price on the stock.

Institutional Investors Weigh In On Sunrise Realty Trust

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