Sachem Capital (NYSEAMERICAN:SACH) Downgraded to “Neutral” Rating by Alliance Global Partners

Alliance Global Partners cut shares of Sachem Capital (NYSEAMERICAN:SACH) from a buy rating to a neutral rating in a report published on Friday, Marketbeat Ratings reports. The brokerage currently has $2.00 price target on the stock.

Separately, Oppenheimer decreased their price objective on shares of Sachem Capital from $4.50 to $4.00 and set an “outperform” rating on the stock in a report on Monday, August 19th.

Sachem Capital Price Performance

Sachem Capital stock opened at $1.49 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.78 and a quick ratio of 1.78. The stock has a market capitalization of $70.43 million, a PE ratio of -7.84, a PEG ratio of 0.22 and a beta of 1.73. The firm has a 50 day simple moving average of $3.43. Sachem Capital has a 12 month low of $1.44 and a 12 month high of $4.64.

Sachem Capital Cuts Dividend

The company also recently announced 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 13.47%. Sachem Capital’s dividend payout ratio (DPR) is presently -168.42%.

Institutional Investors Weigh In On Sachem Capital

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in shares of Sachem Capital in the first quarter valued at approximately $55,000. Vanguard Group Inc. grew its holdings in Sachem Capital by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 2,283,214 shares of the company’s stock valued at $10,183,000 after buying an additional 14,153 shares in the last quarter. TIAA Trust National Association raised its holdings in shares of Sachem Capital by 43.9% during the 1st quarter. TIAA Trust National Association now owns 47,500 shares of the company’s stock worth $212,000 after acquiring an additional 14,500 shares during the period. Brookstone Capital Management purchased a new position in shares of Sachem Capital during the 2nd quarter worth $46,000. Finally, J.W. Cole Advisors Inc. acquired a new position in shares of Sachem Capital during the 2nd quarter valued at about $28,000. 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.