Geode Capital Management LLC Buys New Shares in Sunrise Realty Trust, Inc. (NASDAQ:SUNS)

Geode Capital Management LLC bought a new position in shares of Sunrise Realty Trust, Inc. (NASDAQ:SUNS) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 124,055 shares of the company’s stock, valued at approximately $1,785,000. Geode Capital Management LLC owned about 1.79% of Sunrise Realty Trust at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wasatch Advisors LP acquired a new position in shares of Sunrise Realty Trust during the 3rd quarter worth about $8,875,000. State Street Corp bought a new position in Sunrise Realty Trust during the third quarter worth about $1,788,000. Los Angeles Capital Management LLC acquired a new position in Sunrise Realty Trust during the third quarter worth approximately $372,000. Charles Schwab Investment Management Inc. acquired a new position in Sunrise Realty Trust during the third quarter worth approximately $231,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Sunrise Realty Trust in the third quarter valued at approximately $125,000.

Sunrise Realty Trust Stock Performance

Shares of SUNS opened at $13.28 on Thursday. The company has a 50-day moving average of $14.37. Sunrise Realty Trust, Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $15.74.

Wall Street Analyst Weigh In

Separately, Raymond James started coverage on Sunrise Realty Trust in a research note on Thursday, October 3rd. They set an “outperform” rating and a $17.50 target price for the company.

Insider Activity at Sunrise Realty Trust

In other news, Chairman Leonard M. Tannenbaum purchased 47,810 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average cost of $13.39 per share, with a total value of $640,175.90. Following the acquisition, the chairman now owns 1,318,573 shares in the company, valued at approximately $17,655,692.47. This trade represents a 3.76 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have purchased 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.