Sunrise Realty Trust (NASDAQ:SUNS) Stock Price Down 1.9%

Sunrise Realty Trust, Inc. (NASDAQ:SUNS)’s share price traded down 1.9% on Tuesday . The stock traded as low as $14.44 and last traded at $14.60. 23,167 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 104,951 shares. The stock had previously closed at $14.89.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st.

Sunrise Realty Trust Stock Performance

The company’s 50-day moving average is $13.01.

Sunrise Realty Trust Dividend Announcement

The company also recently announced a dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.21 dividend. The ex-dividend date is Monday, September 30th.

Insider Activity

In other news, Chairman Leonard M. Tannenbaum bought 20,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was bought at an average cost of $12.17 per share, for a total transaction of $243,400.00. Following the transaction, the chairman now owns 345,627 shares of the company’s stock, valued at $4,206,280.59. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Leonard M. Tannenbaum purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average cost of $12.17 per share, with a total value of $243,400.00. Following the acquisition, the chairman now owns 345,627 shares of the company’s stock, valued at approximately $4,206,280.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Leonard M. Tannenbaum purchased 65,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average cost of $12.41 per share, for a total transaction of $806,650.00. Following the completion of the acquisition, the chairman now directly owns 302,966 shares in the company, valued at approximately $3,759,808.06. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 157,471 shares of company stock worth $2,041,658. 5.70% of the stock is currently owned by corporate insiders.

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.