Leonard M. Tannenbaum Acquires 1,000,000 Shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Chairman Leonard M. Tannenbaum bought 1,000,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was bought at an average cost of $12.00 per share, with a total value of $12,000,000.00. Following the transaction, the chairman now directly owns 2,434,213 shares in the company, valued at approximately $29,210,556. The trade was a 69.72 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Sunrise Realty Trust Trading Up 1.2 %

Shares of SUNS opened at $12.00 on Friday. The stock’s fifty day moving average price is $13.73. Sunrise Realty Trust, Inc. has a 12-month low of $8.11 and a 12-month high of $15.74.

Sunrise Realty Trust (NASDAQ:SUNS) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $3.18 million during the quarter, compared to analyst estimates of $2.50 million. As a group, analysts predict that Sunrise Realty Trust, Inc. will post 0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Sunrise Realty Trust

Several hedge funds have recently bought and sold shares of SUNS. Nisa Investment Advisors LLC bought a new position in Sunrise Realty Trust in the 3rd quarter worth approximately $28,000. Barclays PLC acquired a new position in Sunrise Realty Trust during the 3rd quarter worth $106,000. Catalyst Capital Advisors LLC bought a new position in shares of Sunrise Realty Trust in the third quarter worth $125,000. Spire Wealth Management acquired a new position in shares of Sunrise Realty Trust during the fourth quarter valued at $137,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Sunrise Realty Trust during the third quarter valued at about $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.