10,769 Shares in Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. bought a new stake in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,769 shares of the company’s stock, valued at approximately $155,000.

A number of other hedge funds have also recently modified their holdings of SUNS. Wasatch Advisors LP bought a new stake in shares of Sunrise Realty Trust during the 3rd quarter worth approximately $8,875,000. Geode Capital Management LLC bought a new stake in shares of Sunrise Realty Trust during the third quarter worth $1,785,000. State Street Corp purchased a new stake in shares of Sunrise Realty Trust during the third quarter valued at $1,788,000. Los Angeles Capital Management LLC bought a new position in shares of Sunrise Realty Trust in the third quarter worth about $372,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Sunrise Realty Trust in the 3rd quarter worth about $231,000.

Sunrise Realty Trust Price Performance

Sunrise Realty Trust stock opened at $12.00 on Friday. The firm has a 50-day moving average of $13.67. Sunrise Realty Trust, Inc. has a 1 year low of $8.11 and a 1 year high of $15.74.

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

Insiders Place Their Bets

In related news, Chairman Leonard M. Tannenbaum bought 1,000,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were acquired at an average price of $12.00 per share, with a total value of $12,000,000.00. Following the transaction, the chairman now owns 2,434,213 shares of the company’s stock, valued at $29,210,556. The trade was a 69.72 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 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.

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.