Sachem Capital (NYSEAMERICAN:SACH – Free Report) had its price target cut by Oppenheimer from $5.00 to $4.50 in a research note published on Monday, Benzinga reports. They currently have an outperform rating on the stock.
Separately, Alliance Global Partners began coverage on Sachem Capital in a report on Monday, March 18th. They set a buy rating and a $4.50 target price on the stock.
View Our Latest Stock Report on Sachem Capital
Sachem Capital Stock Performance
Sachem Capital Cuts Dividend
The firm also recently declared 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. This represents a $0.44 annualized dividend and a dividend yield of 14.33%. The ex-dividend date was Monday, April 8th. Sachem Capital’s payout ratio is currently 169.24%.
Institutional Investors Weigh In On Sachem Capital
A number of institutional investors have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. acquired a new stake in Sachem Capital during the 3rd quarter worth about $41,000. SG Americas Securities LLC acquired a new position in Sachem Capital in the first quarter valued at approximately $55,000. Raymond James Financial Services Advisors Inc. acquired a new position in Sachem Capital in the fourth quarter valued at approximately $53,000. Nisa Investment Advisors LLC boosted its holdings in shares of Sachem Capital by 81.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 15,883 shares of the company’s stock worth $56,000 after buying an additional 7,120 shares in the last quarter. Finally, Hartline Investment Corp acquired a new stake in shares of Sachem Capital during the 1st quarter worth approximately $85,000. Institutional investors own 18.07% of the company’s stock.
About Sachem Capital
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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