Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Buys 39,000 Shares

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum acquired 39,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average price of $13.42 per share, with a total value of $523,380.00. Following the completion of the acquisition, the chairman now directly owns 1,373,376 shares of the company’s stock, valued at $18,430,705.92. This represents a 2.92 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Sunrise Realty Trust Price Performance

Sunrise Realty Trust stock traded down $0.20 on Wednesday, reaching $13.23. 127,312 shares of the stock were exchanged, compared to its average volume of 70,841. Sunrise Realty Trust, Inc. has a twelve month low of $8.11 and a twelve month high of $15.74. The company’s fifty day moving average is $14.58.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SUNS shares. Raymond James began coverage on Sunrise Realty Trust in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $17.50 price target for the company. StockNews.com upgraded Sunrise Realty Trust from a “sell” rating to a “hold” rating in a report on Wednesday, August 21st.

Institutional Trading of Sunrise Realty Trust

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

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.