Sunrise Realty Trust (NASDAQ:SUNS) Upgraded at B. Riley

B. Riley upgraded shares of Sunrise Realty Trust (NASDAQ:SUNS) to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

A number of other research firms also recently weighed in on SUNS. Raymond James restated an “outperform” rating and issued a $15.00 target price (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 report on Tuesday. They set an “outperform” rating and a $12.75 price objective for the company.

Sunrise Realty Trust Stock Performance

SUNS opened at $11.49 on Wednesday. Sunrise Realty Trust has a 1-year low of $8.11 and a 1-year high of $15.74. The business has a 50 day moving average price of $13.06 and a two-hundred day moving average price of $13.65.

Insider Buying and Selling at Sunrise Realty Trust

In related news, Chairman Leonard M. Tannenbaum purchased 47,810 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were acquired 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. The trade was a 3.76 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 1,087,429 shares of company stock valued at $13,171,696 in the last three months. 5.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunrise Realty Trust

Hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP bought a new stake in Sunrise Realty Trust in the third quarter worth $8,875,000. Castalian Partners LLC bought a new stake in Sunrise Realty Trust during the fourth quarter valued at about $2,709,000. Geode Capital Management LLC bought a new stake in Sunrise Realty Trust during the third quarter valued at about $1,785,000. State Street Corp bought a new stake in Sunrise Realty Trust during the third quarter valued at about $1,788,000. Finally, Renaissance Technologies LLC bought a new stake in Sunrise Realty Trust during the fourth quarter valued at about $594,000.

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.