Leonard M. Tannenbaum Buys 1,000,000 Shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Stock

Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Get Free Report) Chairman Leonard M. Tannenbaum acquired 1,000,000 shares of the company's stock in a transaction dated Wednesday, January 29th. The shares were bought at an average cost of $12.00 per share, with a total value of $12,000,000.00. Following the completion of the acquisition, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Sunrise Realty Trust Price Performance

Shares of Sunrise Realty Trust stock remained flat at $12.00 during trading on Friday. The stock had a trading volume of 287,879 shares, compared to its average volume of 147,376. Sunrise Realty Trust, Inc. has a 12-month low of $8.11 and a 12-month high of $15.74. The company's 50 day moving average price is $13.67.

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.01. The business had revenue of $3.18 million for the quarter, compared to the consensus estimate of $2.50 million. On average, analysts expect that Sunrise Realty Trust, Inc. will post 0.64 EPS for the current year.

Hedge Funds Weigh In On Sunrise Realty Trust

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