Sachem Capital (NYSEAMERICAN:SACH) Cut to “Neutral” at Alliance Global Partners

Alliance Global Partners downgraded shares of Sachem Capital (NYSEAMERICAN:SACH) from a buy rating to a neutral rating in a research note published on Friday, MarketBeat reports. They currently have $2.00 price objective on the stock.

Separately, Oppenheimer dropped their target price on Sachem Capital from $4.50 to $4.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th.

Sachem Capital Price Performance

SACH opened at $1.79 on Friday. The firm has a market cap of $84.90 million, a P/E ratio of -9.42, a price-to-earnings-growth ratio of 0.22 and a beta of 1.73. The firm has a 50-day moving average price of $3.43. Sachem Capital has a 1 year low of $1.74 and a 1 year high of $4.64. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.78 and a quick ratio of 1.78.

Sachem Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.20 annualized dividend and a yield of 11.17%. Sachem Capital’s dividend payout ratio (DPR) is presently -168.42%.

Institutional Trading of Sachem Capital

Several institutional investors and hedge funds have recently bought and sold shares of SACH. JB Capital LLC raised its position in Sachem Capital by 32.7% during the third quarter. JB Capital LLC now owns 20,301 shares of the company’s stock worth $51,000 after acquiring an additional 5,006 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new position in shares of Sachem Capital during the 2nd quarter worth about $28,000. Renaissance Technologies LLC bought a new stake in shares of Sachem Capital in the 2nd quarter valued at about $30,000. SG Americas Securities LLC acquired a new stake in Sachem Capital in the 1st quarter valued at about $55,000. Finally, US Financial Advisors LLC grew its holdings in Sachem Capital by 3.0% during the third quarter. US Financial Advisors LLC now owns 423,578 shares of the company’s stock worth $1,067,000 after purchasing an additional 12,428 shares during the period. Institutional investors own 18.07% of the company’s stock.

Sachem Capital Company Profile

Sachem Capital Corp. operates as a real estate finance company in the United States. The company engages in the originating, underwriting, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real property. It offers short term loans to real estate investors or developers to fund its acquisition, renovation, rehabilitation, development, and/or improvement of residential or commercial properties.