Geode Capital Management LLC Raises Stake in Sachem Capital Corp. (NYSEAMERICAN:SACH)

Geode Capital Management LLC raised its position in Sachem Capital Corp. (NYSEAMERICAN:SACH) by 6.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 516,918 shares of the company’s stock after purchasing an additional 33,317 shares during the period. Geode Capital Management LLC’s holdings in Sachem Capital were worth $1,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SACH. J.W. Cole Advisors Inc. purchased a new position in Sachem Capital in the second quarter valued at approximately $28,000. Renaissance Technologies LLC acquired a new position in shares of Sachem Capital in the 2nd quarter valued at $30,000. JB Capital LLC boosted its holdings in shares of Sachem Capital by 32.7% in the 3rd 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 in the last quarter. Janus Henderson Group PLC grew its position in shares of Sachem Capital by 124.5% in the 3rd quarter. Janus Henderson Group PLC now owns 29,549 shares of the company’s stock valued at $74,000 after buying an additional 16,385 shares during the last quarter. Finally, One Charles Private Wealth Services LLC acquired a new stake in Sachem Capital during the 3rd quarter worth $97,000. 18.07% of the stock is currently owned by institutional investors and hedge funds.

Sachem Capital Stock Down 5.1 %

Shares of Sachem Capital stock opened at $1.12 on Friday. Sachem Capital Corp. has a 12 month low of $1.12 and a 12 month high of $4.64. The firm has a market capitalization of $52.61 million, a PE ratio of -5.89 and a beta of 1.64. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.79 and a current ratio of 1.79.

Sachem Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.20 dividend on an annualized basis and a yield of 17.86%. Sachem Capital’s dividend payout ratio is presently -105.26%.

Analyst Ratings Changes

SACH has been the subject of several research analyst reports. Alliance Global Partners downgraded shares of Sachem Capital from a “buy” rating to a “neutral” rating and set a $2.00 price objective for the company. in a research note on Friday, November 15th. Oppenheimer reissued an “outperform” rating and issued a $2.50 target price (down from $4.00) on shares of Sachem Capital in a research report on Friday, December 6th.

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.