Sunrise Realty Trust (NASDAQ:SUNS) Coverage Initiated by Analysts at B. Riley

B. Riley assumed coverage on shares of Sunrise Realty Trust (NASDAQ:SUNS) in a research report sent to investors on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $15.00 price objective on the stock.

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

Sunrise Realty Trust Stock Performance

NASDAQ:SUNS opened at $11.60 on Thursday. Sunrise Realty Trust has a 52-week low of $8.11 and a 52-week high of $15.74. The stock’s 50 day moving average price is $13.16 and its 200 day moving average price is $13.66.

Insider Transactions at Sunrise Realty Trust

In other news, Chairman Leonard M. Tannenbaum acquired 39,000 shares of the company’s stock in a transaction 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 purchase, the chairman now owns 1,373,376 shares of the company’s stock, valued at $18,430,705.92. This represents a 2.92 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased 1,087,429 shares of company stock worth $13,171,696 over the last 90 days. 5.70% of the stock is currently owned by insiders.

Institutional Trading of Sunrise Realty Trust

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