Geode Capital Management LLC Increases Holdings in Sachem Capital Corp. (NYSEAMERICAN:SACH)

Geode Capital Management LLC increased its position in shares of Sachem Capital Corp. (NYSEAMERICAN:SACH) by 6.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 516,918 shares of the company’s stock after purchasing an additional 33,317 shares during the quarter. Geode Capital Management LLC owned 1.09% of Sachem Capital worth $1,303,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV acquired a new position in shares of Sachem Capital in the 2nd quarter valued at about $831,000. Marshall Wace LLP purchased a new position in Sachem Capital during the second quarter valued at approximately $334,000. EP Wealth Advisors LLC acquired a new position in shares of Sachem Capital in the 3rd quarter valued at $233,000. Penserra Capital Management LLC raised its position in shares of Sachem Capital by 23.0% in the third quarter. Penserra Capital Management LLC now owns 319,667 shares of the company’s stock worth $805,000 after acquiring an additional 59,675 shares during the period. Finally, Barclays PLC purchased a new position in Sachem Capital during the third quarter worth approximately $109,000. Hedge funds and other institutional investors own 18.07% of the company’s stock.

Sachem Capital Stock Down 5.1 %

NYSEAMERICAN:SACH opened at $1.12 on Friday. Sachem Capital Corp. has a fifty-two week low of $1.12 and a fifty-two week high of $4.64. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.79 and a quick ratio of 1.79. The company has a market cap of $52.61 million, a P/E ratio of -5.89 and a beta of 1.64.

Sachem Capital Cuts Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $2.50 price objective (down from $4.00) on shares of Sachem Capital in a research note on Friday, December 6th. Alliance Global Partners lowered Sachem Capital from a “buy” rating to a “neutral” rating and set a $2.00 price target on the stock. in a research note on Friday, November 15th.

Sachem Capital 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.