Sunrise Realty Trust (NASDAQ:SUNS) Receives New Coverage from Analysts at Raymond James

Stock analysts at Raymond James started coverage on shares of Sunrise Realty Trust (NASDAQ:SUNS) in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage set an “outperform” rating and a $17.50 price target on the stock. Raymond James’ price objective points to a potential upside of 25.09% from the company’s current price.

Separately, StockNews.com raised Sunrise Realty Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st.

Sunrise Realty Trust Stock Down 1.6 %

NASDAQ:SUNS opened at $13.99 on Thursday. Sunrise Realty Trust has a 1-year low of $8.11 and a 1-year high of $14.95. The stock has a 50 day moving average price of $13.17.

Insider Transactions at Sunrise Realty Trust

In other Sunrise Realty Trust news, Chairman Leonard M. Tannenbaum bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average cost of $13.85 per share, for a total transaction of $346,250.00. Following the purchase, the chairman now directly owns 420,181 shares in the company, valued at $5,819,506.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Leonard M. Tannenbaum bought 65,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased 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 owns 302,966 shares in the company, valued at approximately $3,759,808.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Leonard M. Tannenbaum purchased 25,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were acquired at an average cost of $13.85 per share, with a total value of $346,250.00. Following the completion of the acquisition, the chairman now directly owns 420,181 shares in the company, valued at $5,819,506.85. The disclosure for this purchase can be found here. In the last three months, insiders purchased 157,471 shares of company stock valued at $2,041,658. Corporate insiders own 5.70% of the company’s stock.

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.