Leonard M. Tannenbaum Buys 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 company’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average price of $13.42 per share, with a total value of $523,380.00. Following the completion of the transaction, the chairman now owns 1,373,376 shares of the company’s stock, valued at approximately $18,430,705.92. The trade was a 2.92 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Sunrise Realty Trust Stock Down 0.6 %

Shares of NASDAQ SUNS opened at $13.15 on Friday. Sunrise Realty Trust, Inc. has a twelve month low of $8.11 and a twelve month high of $15.74. The company has a fifty day moving average price of $14.52.

Analysts Set New Price Targets

Separately, Raymond James initiated coverage on shares of Sunrise Realty Trust in a research report on Thursday, October 3rd. They set an “outperform” rating and a $17.50 price objective for the company.

Hedge Funds Weigh In On Sunrise Realty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP acquired a new stake in shares of Sunrise Realty Trust during the third quarter worth about $8,875,000. Los Angeles Capital Management LLC purchased a new stake in Sunrise Realty Trust during the 3rd quarter worth approximately $372,000. Nisa Investment Advisors LLC purchased a new stake in Sunrise Realty Trust during the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC acquired a new stake in Sunrise Realty Trust during the 3rd quarter worth approximately $125,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Sunrise Realty Trust in the 3rd quarter valued at approximately $231,000.

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.