Sachem Capital’s (SACH) “Outperform” Rating Reiterated at Oppenheimer

Oppenheimer reissued their outperform rating on shares of Sachem Capital (NYSEAMERICAN:SACH) in a report published on Friday morning,Benzinga reports. They currently have a $2.50 target price on the stock, down from their prior target price of $4.00.

Separately, Alliance Global Partners lowered shares of Sachem Capital from a “buy” rating to a “neutral” rating and set a $2.00 price target on the stock. in a research report on Friday, November 15th.

Sachem Capital Trading Up 1.5 %

Shares of NYSEAMERICAN SACH opened at $1.39 on Friday. Sachem Capital has a 1 year low of $1.35 and a 1 year high of $4.64. The stock has a market cap of $65.29 million, a PE ratio of -7.32, a price-to-earnings-growth ratio of 0.18 and a beta of 1.64. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.11.

Sachem Capital Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 14.39%. The ex-dividend date was Monday, November 18th. Sachem Capital’s payout ratio is -105.26%.

Institutional Investors Weigh In On Sachem Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SACH. J.W. Cole Advisors Inc. purchased a new position in Sachem Capital during the second quarter worth about $28,000. Renaissance Technologies LLC bought a new stake in shares of Sachem Capital in the 2nd quarter worth approximately $30,000. Brookstone Capital Management bought a new stake in Sachem Capital in the second quarter worth $46,000. JB Capital LLC boosted 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 valued at $51,000 after buying an additional 5,006 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Sachem Capital in the third quarter worth about $60,000. 18.07% of the stock is currently owned by institutional investors.

About Sachem Capital

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.