Sunrise Realty Trust (NASDAQ:SUNS) Raised to “Strong-Buy” at B. Riley

Sunrise Realty Trust (NASDAQ:SUNS) was upgraded by B. Riley to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other brokerages also recently issued reports on SUNS. Raymond James restated an “outperform” rating and issued a $15.00 price objective (down previously from $17.50) on shares of Sunrise Realty Trust in a research note on Monday, February 3rd. Keefe, Bruyette & Woods assumed coverage on Sunrise Realty Trust in a report on Tuesday. They set an “outperform” rating and a $12.75 price objective on the stock.

Sunrise Realty Trust Price Performance

Sunrise Realty Trust stock opened at $11.60 on Wednesday. The firm has a fifty day moving average price of $13.16 and a two-hundred day moving average price of $13.66. Sunrise Realty Trust has a fifty-two week low of $8.11 and a fifty-two week high of $15.74.

Insider Buying and Selling

In other news, Chairman Leonard M. Tannenbaum bought 39,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average price of $13.42 per share, for a total transaction of $523,380.00. Following the transaction, the chairman now directly owns 1,373,376 shares of the company’s stock, valued at $18,430,705.92. This trade represents a 2.92 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders purchased 1,087,429 shares of company stock worth $13,171,696 in the last 90 days. 5.70% of the stock is owned by company insiders.

Institutional Trading of Sunrise Realty Trust

Several large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new position in shares of Sunrise Realty Trust in the third quarter valued at approximately $28,000. Barclays PLC acquired a new stake in Sunrise Realty Trust during the 3rd quarter valued at $106,000. Catalyst Capital Advisors LLC bought a new position in Sunrise Realty Trust in the 3rd quarter valued at $125,000. Spire Wealth Management acquired a new position in Sunrise Realty Trust in the fourth quarter worth $137,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Sunrise Realty Trust during the third quarter worth $155,000.

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.