Sunrise Realty Trust Upgraded to Strong-Buy by B. Riley

On Wednesday, B. Riley announced that they have upgraded Sunrise Realty Trust (NASDAQ:SUNS) to a "strong-buy" rating. This positive update comes amid recent discussions by various brokerages regarding the stock.

As part of the same market activity, Raymond James reiterated their "outperform" rating for Sunrise Realty Trust, adjusting their price target down from $17.50 to $15.00 in a report filed on February 3rd. Additionally, Keefe, Bruyette & Woods recently initiated coverage on the company, assigning it an "outperform" rating and establishing a price target of $12.75.

Recent Price Activity of Sunrise Realty Trust

On the day of the upgrade, shares of Sunrise Realty Trust opened at $11.60. The company has experienced fluctuations with a fifty-day moving average price of $13.16 and a two-hundred-day moving average price of $13.66. Over the past year, the stock has seen a low of $8.11 and a high of $15.74, indicating a varied trading range.

Insider Transactions

In recent insider trading news, the Chairman of Sunrise Realty Trust, Leonard M. Tannenbaum, purchased 39,000 shares at an average price of $13.42 per share on December 18th. This transaction totaled approximately $523,380. Following this acquisition, Tannenbaum's total share ownership increased to 1,373,376 shares, which are valued at around $18.43 million. This acquisition reflects a 2.92% increase in his holdings. Over the last 90 days, insiders have collectively bought 1,087,429 shares of Sunrise Realty Trust stock, with total transactions amounting to $13,171,696. Notably, insiders currently own about 5.70% of the company's stock.

Institutional Investments

A variety of institutional investors have recently made adjustments to their holdings in Sunrise Realty Trust. In the third quarter, Nisa Investment Advisors LLC ventured into a new position valued at approximately $28,000 in SUNS shares. Barclays PLC also bought a fresh stake in the company valued at $106,000 during the same period. Similarly, Catalyst Capital Advisors LLC and Spire Wealth Management took new positions worth $125,000 and $137,000 respectively in the fourth quarter. Finally, JPMorgan Chase & Co. secured a new investment in Sunrise Realty Trust worth $155,000 during the third quarter.

Company Overview

Sunrise Realty Trust, Inc. specializes in the commercial real estate (CRE) lending sector. The firm concentrates on creating CRE debt investments and providing funding to borrowers who require capital for transitional business plans that are backed by CRE assets. Their investment portfolio aims to be diverse, targeting senior mortgage loans, mezzanine loans, whole loans, B-notes, CMBS, and debt-like preferred equity securities across various CRE asset classes.

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