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 report released on Friday morning, Marketbeat Ratings reports. The firm currently has $2.00 price target on the stock.

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

Sachem Capital Price Performance

Sachem Capital stock opened at $1.79 on Friday. The firm has a market capitalization of $84.90 million, a price-to-earnings ratio of -9.42, a P/E/G ratio of 0.22 and a beta of 1.73. The business’s fifty day moving average is $3.43. Sachem Capital has a 52-week low of $1.74 and a 52-week high of $4.64. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.10.

Sachem Capital Cuts Dividend

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

Hedge Funds Weigh In On Sachem Capital

Institutional investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV bought a new stake in shares of Sachem Capital in the 2nd quarter valued at $831,000. J.W. Cole Advisors Inc. acquired a new position in Sachem Capital in the second quarter valued at about $28,000. US Financial Advisors LLC grew its stake in Sachem Capital by 3.0% in the third quarter. US Financial Advisors LLC now owns 423,578 shares of the company’s stock valued at $1,067,000 after acquiring an additional 12,428 shares during the period. Teamwork Financial Advisors LLC increased its holdings in shares of Sachem Capital by 78.4% in the third quarter. Teamwork Financial Advisors LLC now owns 74,551 shares of the company’s stock worth $188,000 after acquiring an additional 32,757 shares in the last quarter. Finally, JB Capital LLC raised its position in shares of 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 purchasing an additional 5,006 shares during the period. 18.07% of the stock is currently owned by institutional investors and hedge funds.

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.