Geode Capital Management LLC Takes Position in Sunrise Realty Trust, Inc. (NASDAQ:SUNS)

Geode Capital Management LLC purchased a new position in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) during the third quarter, Holdings Channel reports. The firm purchased 124,055 shares of the company’s stock, valued at approximately $1,785,000.

A number of other large investors have also added to or reduced their stakes in SUNS. Nisa Investment Advisors LLC acquired a new position in Sunrise Realty Trust in the 3rd quarter valued at $28,000. Barclays PLC bought a new position in shares of Sunrise Realty Trust in the third quarter worth $106,000. Catalyst Capital Advisors LLC acquired a new position in Sunrise Realty Trust in the third quarter valued at about $125,000. Charles Schwab Investment Management Inc. bought a new stake in Sunrise Realty Trust during the third quarter worth about $231,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Sunrise Realty Trust during the third quarter worth about $372,000.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Sunrise Realty Trust

In related news, Chairman Leonard M. Tannenbaum purchased 39,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average cost of $13.42 per share, with a total value of $523,380.00. Following the acquisition, the chairman now owns 1,373,376 shares of the company’s stock, valued at $18,430,705.92. This trade represents a 2.92 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders acquired 87,429 shares of company stock valued at $1,171,696. Corporate insiders own 5.70% of the company’s stock.

Sunrise Realty Trust Price Performance

NASDAQ SUNS opened at $13.28 on Thursday. Sunrise Realty Trust, Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $15.74. The business’s fifty day simple moving average is $14.37.

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.