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 that occurred on Monday, December 16th. The shares were acquired 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 of the company’s stock, valued at $17,655,692.47. This trade represents a 3.76 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Sunrise Realty Trust Price Performance

SUNS stock opened at $13.59 on Friday. The business has a 50 day moving average of $14.49. Sunrise Realty Trust, Inc. has a 12-month low of $8.11 and a 12-month high of $15.74.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Sunrise Realty Trust

A number of hedge funds have recently modified their holdings of SUNS. Wasatch Advisors LP purchased a new position in Sunrise Realty Trust in the third quarter valued at about $8,875,000. Geode Capital Management LLC acquired a new stake in shares of Sunrise Realty Trust during the 3rd quarter valued at about $1,785,000. State Street Corp acquired a new position in Sunrise Realty Trust in the third quarter worth approximately $1,788,000. Los Angeles Capital Management LLC bought a new position in Sunrise Realty Trust during the third quarter valued at approximately $372,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Sunrise Realty Trust in the third quarter valued at approximately $231,000.

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.