122,493 Shares in Sunrise Realty Trust, Inc. (NASDAQ:SUNS) Bought by State Street Corp

State Street Corp acquired a new stake in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 122,493 shares of the company's stock, valued at approximately $1,788,000. State Street Corp owned approximately 1.77% of Sunrise Realty Trust at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wasatch Advisors LP purchased a new stake in shares of Sunrise Realty Trust in the third quarter worth about $8,875,000. Los Angeles Capital Management LLC bought a new stake in Sunrise Realty Trust in the 3rd quarter worth approximately $372,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Sunrise Realty Trust during the 3rd quarter worth approximately $231,000. Catalyst Capital Advisors LLC bought a new position in shares of Sunrise Realty Trust during the 3rd quarter valued at approximately $125,000. Finally, Nisa Investment Advisors LLC purchased a new position in shares of Sunrise Realty Trust in the third quarter valued at $28,000.

Wall Street Analysts Forecast Growth

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

Sunrise Realty Trust Stock Performance

Shares of NASDAQ SUNS traded up $0.14 during trading hours on Thursday, hitting $14.22. 25,253 shares of the company traded hands, compared to its average volume of 71,348. The firm's 50 day moving average is $14.36. Sunrise Realty Trust, Inc. has a 12 month low of $8.11 and a 12 month high of $15.74.

Insider Activity at Sunrise Realty Trust

In related news, Chairman Leonard M. Tannenbaum bought 47,810 shares of the stock in a transaction dated Monday, December 16th. The stock was purchased at an average cost of $13.39 per share, with a total value of $640,175.90. Following the completion of the purchase, the chairman now owns 1,318,573 shares of the company's stock, valued at $17,655,692.47. This trade represents a 3.76 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.

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.