Keefe, Bruyette & Woods Begins Coverage on Sunrise Realty Trust (NASDAQ:SUNS)

Keefe, Bruyette & Woods assumed coverage on shares of Sunrise Realty Trust (NASDAQ:SUNS) in a research note published on Tuesday, Marketbeat.com reports. The firm issued an outperform rating and a $12.75 price target on the stock.

Separately, Raymond James reaffirmed an “outperform” rating and set a $15.00 target price (down previously from $17.50) on shares of Sunrise Realty Trust in a research note on Monday, February 3rd.

Sunrise Realty Trust Stock Down 0.3 %

Shares of Sunrise Realty Trust stock opened at $11.58 on Tuesday. Sunrise Realty Trust has a 52 week low of $8.11 and a 52 week high of $15.74. The business’s fifty day simple moving average is $13.22 and its 200-day simple moving average is $13.68.

Insiders Place Their Bets

In other news, Chairman Leonard M. Tannenbaum acquired 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average price of $12.00 per share, for a total transaction of $12,000,000.00. Following the acquisition, the chairman now owns 2,434,213 shares of the company’s stock, valued at $29,210,556. This represents a 69.72 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought 1,087,429 shares of company stock worth $13,171,696 over the last ninety days. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Sunrise Realty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of SUNS. State Street Corp acquired a new stake in shares of Sunrise Realty Trust during the third quarter worth about $1,788,000. Geode Capital Management LLC purchased a new stake in Sunrise Realty Trust during the 3rd quarter worth approximately $1,785,000. Barclays PLC acquired a new stake in Sunrise Realty Trust during the 3rd quarter worth approximately $106,000. Charles Schwab Investment Management Inc. purchased a new position in Sunrise Realty Trust in the 3rd quarter valued at approximately $231,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Sunrise Realty Trust in the third quarter worth $155,000.

Sunrise Realty Trust Company 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.