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

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

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

Sunrise Realty Trust Stock Performance

NASDAQ:SUNS opened at $11.60 on Wednesday. Sunrise Realty Trust has a one year low of $8.11 and a one year high of $15.74. The business has a fifty day moving average price of $13.16 and a 200-day moving average price of $13.66.

Insider Buying and Selling

In related news, Chairman Leonard M. Tannenbaum bought 1,000,000 shares of the business’s stock in a transaction that occurred on 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 completion of the purchase, the chairman now owns 2,434,213 shares of the company’s stock, 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 is available through this hyperlink. Over the last 90 days, insiders acquired 1,087,429 shares of company stock worth $13,171,696. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC bought a new stake in shares of Sunrise Realty Trust in the third quarter worth about $28,000. Barclays PLC purchased a new position in Sunrise Realty Trust during the 3rd quarter valued at approximately $106,000. Catalyst Capital Advisors LLC purchased a new position in Sunrise Realty Trust during the 3rd quarter valued at approximately $125,000. Spire Wealth Management bought a new stake in Sunrise Realty Trust in the 4th quarter worth approximately $137,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Sunrise Realty Trust during the 3rd quarter worth approximately $155,000.

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.