Leonard M. Tannenbaum Makes $1.49 Million Investment in Sunrise Realty Trust, Inc. (NYSE:SUNS) - Insider Transactions Revealed!
Leonard M. Tannenbaum, the Executive Chairman of Sunrise Realty Trust, Inc. (NYSE:SUNS), has recently made a substantial investment in the company's stock, purchasing shares valued at approximately $1.49 million. These transactions, which occurred on July 10 and July 11, 2024, demonstrate a significant show of confidence in the real estate investment trust by one of its top executives.
The shares were acquired in multiple transactions at prices ranging from $8.73 to $11.49. Tannenbaum purchased 10,000 shares at $8.73 each on July 10, and 58,958 shares at an average price of $10.56, with individual prices varying from $8.94 to $11.25. The following day, he continued to increase his holdings by acquiring an additional 68,086 shares at an average price of $11.49, with transaction prices between $10.85 and $12.54.
After these purchases, Tannenbaum now owns a total of 1,270,763 shares of Sunrise Realty Trust directly, with an additional 58,958 shares held indirectly. Furthermore, there are 24,959 shares held by his spouse and 128,219 shares held by the Tannenbaum Family Foundation, of which he is the President.
Investors often monitor insider transactions for insights into a company's performance and management's expectations. Tannenbaum's recent stock purchases indicate his commitment to and optimism about Sunrise Realty Trust's future trajectory.
Sunrise Realty Trust, Inc., is a real estate investment trust headquartered in West Palm Beach, focusing on strategic property investments and management. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol SUNS.
In addition to Tannenbaum's investments, Sunrise Realty Trust has made its debut on the Nasdaq Capital Market, marking a significant milestone for the company. The move represents the establishment of Sunrise Realty Trust as an independent entity in the marketplace, providing liquidity and a market for its shares.
Analyzing the performance metrics of SUNS, the company has shown a remarkable price total return of 25.0% over the past year, consistent across various time frames. This steady upward trend aligns with Tannenbaum's confidence in the company's potential.
Furthermore, SUNS has had an average daily trading volume of 0.26 million USD over the past three months, indicating healthy trading activity. For investors seeking more insights into SUNS's future, InvestingPro offers exclusive tips, including discounts with the coupon code PRONEWS24.
In conclusion, Tannenbaum's investments and SUNS's performance metrics suggest a positive outlook for Sunrise Realty Trust. Investors may find opportunities for growth and potential returns by considering the company's trajectory and future prospects.