Sunrise Realty Trust (NASDAQ:SUNS) Raised to Strong-Buy at B. Riley

Sunrise Realty Trust (NASDAQ:SUNS - Get Free Report) was upgraded by equities researchers at B. Riley to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

Several other brokerages also recently commented on SUNS. Raymond James restated an "outperform" rating and issued a $15.00 price objective (down from $17.50) on shares of Sunrise Realty Trust in a research report on Monday, February 3rd. Keefe, Bruyette & Woods assumed coverage on Sunrise Realty Trust in a research note on Tuesday, February 11th. They issued an "outperform" rating and a $12.75 price objective for the company.

Sunrise Realty Trust Stock Up 0.3 %

Shares of SUNS traded up $0.04 during trading hours on Wednesday, reaching $11.53. 147,556 shares of the stock traded hands, compared to its average volume of 157,057. The company's 50-day moving average price is $13.00 and its two-hundred day moving average price is $13.67. Sunrise Realty Trust has a 52-week low of $8.11 and a 52-week high of $15.74.

Insider Transactions at Sunrise Realty Trust

In other news, Chairman Leonard M. Tannenbaum purchased 39,000 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average cost of $13.42 per share, with a total value of $523,380.00. Following the completion of the purchase, the chairman now owns 1,373,376 shares in the company, valued at approximately $18,430,705.92. This represents a 2.92 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders acquired a total of 1,087,429 shares of company stock valued at $13,171,696 over the last 90 days. Company insiders own 5.70% of the company's stock.

Institutional Investors Weigh In On Sunrise Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC increased its holdings in Sunrise Realty Trust by 14.8% during the 4th quarter. Barclays PLC now owns 8,484 shares of the company's stock worth $120,000 after purchasing an additional 1,092 shares during the period. Geode Capital Management LLC increased its holdings in shares of Sunrise Realty Trust by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 125,942 shares of the company's stock valued at $1,773,000 after acquiring an additional 1,887 shares during the period. Nisa Investment Advisors LLC purchased a new position in shares of Sunrise Realty Trust in the 3rd quarter valued at $28,000. Bank of America Corp DE increased its holdings in shares of Sunrise Realty Trust by 60.4% in the 4th quarter. Bank of America Corp DE now owns 5,183 shares of the company's stock valued at $73,000 after acquiring an additional 1,952 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Sunrise Realty Trust by 353.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the company's stock valued at $41,000 after acquiring an additional 2,279 shares during the period.

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.