Sunrise Realty Trust (NASDAQ:SUNS) Research Coverage Started at B. Riley

B. Riley initiated coverage on shares of Sunrise Realty Trust (NASDAQ:SUNS) in a report published on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $15.00 price objective on the stock.

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods initiated coverage on Sunrise Realty Trust in a research report on Tuesday, February 11th. They set an “outperform” rating and a $12.75 price target on the stock. Raymond James restated an “outperform” rating and set a $15.00 target price (down from $17.50) on shares of Sunrise Realty Trust in a research note on Monday, February 3rd.

Sunrise Realty Trust Stock Down 0.9 %

Shares of Sunrise Realty Trust stock opened at $11.49 on Thursday. The firm’s 50 day moving average price is $13.06 and its 200-day moving average price is $13.66. Sunrise Realty Trust has a 52-week low of $8.11 and a 52-week high of $15.74.

Insider Buying and Selling

In related news, Chairman Leonard M. Tannenbaum purchased 1,000,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was acquired at an average price of $12.00 per share, with a total value of $12,000,000.00. Following the completion of the acquisition, the chairman now owns 2,434,213 shares in the company, valued at approximately $29,210,556. This represents a 69.72 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders purchased 1,087,429 shares of company stock worth $13,171,696 in the last three months. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Sunrise Realty Trust

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new stake in Sunrise Realty Trust during the 3rd quarter worth about $28,000. Tower Research Capital LLC TRC lifted its holdings in shares of Sunrise Realty Trust by 353.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company’s stock worth $41,000 after purchasing an additional 2,279 shares during the period. Barclays PLC purchased a new stake in Sunrise Realty Trust in the third quarter valued at approximately $106,000. Catalyst Capital Advisors LLC acquired a new position in Sunrise Realty Trust in the 3rd quarter worth approximately $125,000. Finally, Spire Wealth Management purchased a new position in Sunrise Realty Trust during the 4th quarter worth approximately $137,000.

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.