Sachem Capital (NYSEAMERICAN:SACH) Stock Price Down 0.9%
Sachem Capital (NYSEAMERICAN:SACH) shares dropped 0.9% on Monday, with approximately 326,153 shares changing hands. The company has a market capitalization of $131.20 million and a dividend yield of 15.91%. Hedge funds and other institutional investors own 18.07% of the stock. Sachem Capital operates as a real estate finance company, offering short-term loans secured by first mortgage liens on real property.
Sachem Capital Corp. (NYSEAMERICAN:SACH - Get Free Report) shares dropped 0.9% on Monday . The stock traded as low as $2.75 and last traded at $2.77. Approximately 326,153 shares changed hands during trading, a decline of 3% from the average daily volume of 336,243 shares. The stock had previously closed at $2.79.
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Analyst Upgrades and Downgrades
SACH has been the subject of several recent research reports. Oppenheimer decreased their target price on shares of Sachem Capital from $5.00 to $4.50 and set an "outperform" rating for the company in a research note on Monday, May 20th. Alliance Global Partners initiated coverage on shares of Sachem Capital in a research note on Monday, March 18th. They set a "buy" rating and a $4.50 target price for the company.
Get Our Latest Stock Analysis on SACH
Sachem Capital Trading Down 0.9 %
The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average of $3.67. The firm has a market capitalization of $131.20 million, a price-to-earnings ratio of 10.64, a PEG ratio of 0.15 and a beta of 1.75.
Sachem Capital Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Tuesday, April 9th were paid a dividend of $0.11 per share. The ex-dividend date was Monday, April 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 15.91%. Sachem Capital's dividend payout ratio (DPR) is 169.24%.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Sachem Capital by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 2,283,214 shares of the company's stock worth $10,183,000 after acquiring an additional 14,153 shares during the period. Melia Wealth LLC purchased a new stake in Sachem Capital in the 1st quarter worth approximately $10,046,000. US Financial Advisors LLC grew its stake 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 during the period. Citigroup Inc. purchased a new stake in Sachem Capital in the 3rd quarter worth approximately $706,000. Finally, Jump Financial LLC grew its stake in Sachem Capital by 112.2% in the 4th quarter. Jump Financial LLC now owns 75,628 shares of the company's stock worth $283,000 after acquiring an additional 39,984 shares during the period. 18.07% of the stock is owned by hedge funds and other institutional investors.
About Sachem Capital
(Get Free Report)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.
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