Oppenheimer Lowers Sachem Capital (NYSEAMERICAN:SACH) Price Target to $4.50

Sachem Capital (NYSEAMERICAN:SACH) had its price target reduced by Oppenheimer from $5.00 to $4.50 in a report released on Monday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Separately, Alliance Global Partners began coverage on shares of Sachem Capital in a research report on Monday, March 18th. They issued a buy rating and a $4.50 price target for the company.

Sachem Capital Stock Performance

Shares of NYSEAMERICAN:SACH opened at $3.07 on Monday. The stock’s 50 day moving average is $3.68. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.11. Sachem Capital has a one year low of $2.98 and a one year high of $4.64. The stock has a market capitalization of $145.67 million, a price-to-earnings ratio of 11.81, a PEG ratio of 0.17 and a beta of 1.69.

Sachem Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Tuesday, April 9th were paid a $0.11 dividend. The ex-dividend date was Monday, April 8th. This represents a $0.44 dividend on an annualized basis and a yield of 14.33%. Sachem Capital’s dividend payout ratio (DPR) is 169.24%.

Hedge Funds Weigh In On Sachem Capital

A number of institutional investors have recently modified their holdings of SACH. Vanguard Group Inc. boosted its position in Sachem Capital by 0.6% during the first quarter. Vanguard Group Inc. now owns 2,283,214 shares of the company’s stock worth $10,183,000 after purchasing an additional 14,153 shares in the last quarter. Melia Wealth LLC acquired a new stake in Sachem Capital in the 1st quarter valued at $10,046,000. US Financial Advisors LLC increased its holdings in Sachem Capital by 9.9% in the 4th quarter. US Financial Advisors LLC now owns 362,188 shares of the company’s stock worth $1,355,000 after acquiring an additional 32,618 shares in the last quarter. Citigroup Inc. acquired a new stake in shares of Sachem Capital in the third quarter valued at about $706,000. Finally, Jump Financial LLC increased its stake in shares of Sachem Capital by 112.2% during the fourth quarter. Jump Financial LLC now owns 75,628 shares of the company’s stock worth $283,000 after purchasing an additional 39,984 shares in the last quarter. Hedge funds and other institutional investors own 18.07% of the company’s stock.

Sachem Capital Company 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.