Leonard M. Tannenbaum Acquires 47,810 Shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 47,810 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $13.39 per share, for a total transaction of $640,175.90. Following the completion of the transaction, the chairman now directly owns 1,318,573 shares in the company, valued at approximately $17,655,692.47. This trade represents a 3.76 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sunrise Realty Trust Trading Down 0.6 %

Shares of NASDAQ:SUNS opened at $13.15 on Friday. The company’s 50-day moving average is $14.52. Sunrise Realty Trust, Inc. has a one year low of $8.11 and a one year high of $15.74.

Institutional Investors Weigh In On Sunrise Realty Trust

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

Wall Street Analyst Weigh In

Separately, Raymond James started coverage on 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.

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.