Wasatch Advisors LP purchased a new position in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 616,765 shares of the company's stock, valued at approximately $8,875,000. Wasatch Advisors LP owned about 8.90% of Sunrise Realty Trust as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new stake in shares of Sunrise Realty Trust in the third quarter valued at approximately $372,000. Charles Schwab Investment Management Inc. purchased a new position in Sunrise Realty Trust during the 3rd quarter worth $231,000. Catalyst Capital Advisors LLC acquired a new position in Sunrise Realty Trust in the third quarter valued at $125,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Sunrise Realty Trust in the third quarter valued at about $28,000.
Analyst Ratings Changes
SUNS has been the topic of a number of research reports. Raymond James began coverage on Sunrise Realty Trust in a report on Thursday, October 3rd. They set an "outperform" rating and a $17.50 price target on the stock. StockNews.com raised Sunrise Realty Trust from a "sell" rating to a "hold" rating in a report on Wednesday, August 21st.
Check Out Our Latest Analysis on Sunrise Realty Trust
Sunrise Realty Trust Stock Performance
Sunrise Realty Trust stock traded up $0.45 during trading hours on Friday, reaching $15.53. 61,963 shares of the stock were exchanged, compared to its average volume of 32,529. Sunrise Realty Trust, Inc. has a 52-week low of $8.11 and a 52-week high of $15.74. The company's 50 day moving average price is $14.68.
Sunrise Realty Trust Profile
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Free Report)
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.
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