Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum Buys 1,000,000 Shares

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum purchased 1,000,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average cost of $12.00 per share, with a total value of $12,000,000.00. Following the completion of the transaction, the chairman now owns 2,434,213 shares in the company, valued at $29,210,556. This trade represents a 69.72 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Sunrise Realty Trust Trading Down 0.1 %

Shares of NASDAQ SUNS traded down $0.01 during trading on Wednesday, reaching $11.86. The company had a trading volume of 343,485 shares, compared to its average volume of 163,101. Sunrise Realty Trust, Inc. has a 12-month low of $8.11 and a 12-month high of $15.74. The business’s 50-day moving average is $13.85.

Sunrise Realty Trust (NASDAQ:SUNS) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $3.18 million for the quarter, compared to analysts’ expectations of $2.50 million. As a group, analysts forecast that Sunrise Realty Trust, Inc. will post 0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sunrise Realty Trust

A number of institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new position in Sunrise Realty Trust in the 3rd quarter worth about $28,000. Barclays PLC bought a new stake in shares of Sunrise Realty Trust in the third quarter worth approximately $106,000. Catalyst Capital Advisors LLC purchased a new position in shares of Sunrise Realty Trust during the third quarter valued at approximately $125,000. Spire Wealth Management bought a new position in Sunrise Realty Trust during the fourth quarter valued at approximately $137,000. Finally, JPMorgan Chase & Co. purchased a new stake in Sunrise Realty Trust in the third quarter worth approximately $155,000.

Analyst Ratings Changes

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

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.