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

B. Riley upgraded shares of Sunrise Realty Trust (NASDAQ:SUNS) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other brokerages also recently weighed in on SUNS. Raymond James reissued an “outperform” rating and issued a $15.00 price target (down from $17.50) on shares of Sunrise Realty Trust in a report on Monday, February 3rd. Keefe, Bruyette & Woods began coverage on shares of Sunrise Realty Trust in a research report on Tuesday. They set an “outperform” rating and a $12.75 price objective for the company.

Sunrise Realty Trust Price Performance

SUNS opened at $11.60 on Wednesday. The business has a 50 day moving average of $13.16 and a 200-day moving average of $13.66. Sunrise Realty Trust has a 1-year low of $8.11 and a 1-year high of $15.74.

Insider Buying and Selling

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum bought 1,000,000 shares of the stock in a transaction that occurred 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 completion of the purchase, the chairman now directly owns 2,434,213 shares in the company, valued at $29,210,556. The trade was a 69.72 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought a total of 1,087,429 shares of company stock valued at $13,171,696 over the last ninety days. 5.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunrise Realty Trust

A number of institutional investors have recently added to or reduced their stakes in SUNS. Nisa Investment Advisors LLC bought a new position in shares of Sunrise Realty Trust during the 3rd quarter worth approximately $28,000. Barclays PLC acquired a new position in Sunrise Realty Trust during the third quarter worth $106,000. Catalyst Capital Advisors LLC bought a new position in shares of Sunrise Realty Trust during the third quarter valued at $125,000. Spire Wealth Management acquired a new stake in shares of Sunrise Realty Trust in the 4th quarter valued at $137,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Sunrise Realty Trust in the 3rd quarter valued at $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.