Sunrise Realty Trust (NASDAQ:SUNS) Coverage Initiated by Analysts at B. Riley

B. Riley assumed coverage on shares of Sunrise Realty Trust (NASDAQ:SUNS) in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $15.00 price target on the stock. B. Riley’s price target points to a potential upside of 30.78% from the company’s previous close.

A number of other brokerages have also issued reports on SUNS. Raymond James reaffirmed an “outperform” rating and set a $15.00 price objective (down from $17.50) on shares of Sunrise Realty Trust in a report on Monday, February 3rd. Keefe, Bruyette & Woods started coverage on shares of Sunrise Realty Trust in a research note on Tuesday. They set an “outperform” rating and a $12.75 target price for the company.

Sunrise Realty Trust Stock Down 0.9 %

NASDAQ SUNS opened at $11.47 on Thursday. Sunrise Realty Trust has a twelve month low of $8.11 and a twelve month high of $15.74. The business has a 50-day moving average price of $13.16 and a 200-day moving average price of $13.66.

Insider Activity at Sunrise Realty Trust

In related news, Chairman Leonard M. Tannenbaum purchased 39,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was bought 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 owns 1,373,376 shares in the company, valued at approximately $18,430,705.92. The trade was a 2.92 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders acquired 1,087,429 shares of company stock valued at $13,171,696. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunrise Realty Trust

Several institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP bought a new position in shares of Sunrise Realty Trust during the 3rd quarter valued at approximately $8,875,000. Geode Capital Management LLC boosted its stake in Sunrise Realty Trust by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 125,942 shares of the company’s stock worth $1,773,000 after buying an additional 1,887 shares during the period. State Street Corp bought a new position in Sunrise Realty Trust during the third quarter valued at $1,788,000. Los Angeles Capital Management LLC purchased a new stake in shares of Sunrise Realty Trust in the third quarter valued at $372,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Sunrise Realty Trust by 97.6% in the fourth quarter. JPMorgan Chase & Co. now owns 21,280 shares of the company’s stock valued at $300,000 after acquiring an additional 10,511 shares during the period.

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.