Geode Capital Management LLC Invests $1.79 Million in Sunrise Realty Trust, Inc. (NASDAQ:SUNS)

Geode Capital Management LLC bought a new stake in Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 124,055 shares of the company's stock, valued at approximately $1,785,000. Geode Capital Management LLC owned 1.79% of Sunrise Realty Trust as of its most recent SEC filing.

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

Insider Buying and Selling at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum bought 39,000 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $13.42 per share, for a total transaction of $523,380.00. Following the transaction, the chairman now owns 1,373,376 shares in the company, valued at approximately $18,430,705.92. This trade represents a 2.92 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have bought 87,429 shares of company stock worth $1,171,696. Insiders own 5.70% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James assumed coverage on Sunrise Realty Trust in a report on Thursday, October 3rd. They set an "outperform" rating and a $17.50 target price on the stock.

Sunrise Realty Trust Price Performance

Shares of Sunrise Realty Trust stock traded down $0.68 during midday trading on Thursday, reaching $13.28. The company had a trading volume of 123,204 shares, compared to its average volume of 53,841. The company's fifty day moving average is $14.36. Sunrise Realty Trust, Inc. has a 1-year low of $8.11 and a 1-year high of $15.74.

Sunrise Realty Trust 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.