Sachem Capital Corp (NYSEAMERICAN:SACH) announced a dividend on Friday, October 16th, Fidelity reports. Investors of record on Monday, October 26th will be given a dividend of 0.12 per share on Wednesday, November 4th. The ex-dividend date is Friday, October 23rd.
Sachem Capital has a payout ratio of 137.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of NYSEAMERICAN:SACH opened at $4.28 on Friday. Sachem Capital has a one year low of $1.20 and a one year high of $4.78.
SACH has been the subject of a number of research reports. Zacks Investment Research upgraded Sachem Capital from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a report on Tuesday, October 6th. Aegis restated a “buy” rating and issued a $4.00 target price on shares of Sachem Capital in a research report on Tuesday, June 23rd. Finally, LADENBURG THALM/SH SH upgraded shares of Sachem Capital from a “neutral” rating to a “buy” rating in a research report on Monday, August 10th.
About Sachem Capital
Sachem Capital Corp. operates as a real estate finance company. The company engages in originating, underwriting, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real property located primarily in Connecticut. It offers loans to real estate investors to fund their acquisition, renovation, development, rehabilitation, or improvement of properties located in Connecticut, Massachusetts, Florida, New York, Vermont, and Rhode Island.
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