Cox Capital Mgt LLC Acquires Shares of 601,518 Sachem Capital Corp. (NYSEAMERICAN:SACH)

Cox Capital Mgt LLC bought a new stake in Sachem Capital Corp. (NYSEAMERICAN:SACH) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 601,518 shares of the company’s stock, valued at approximately $812,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SACH. Virtu Financial LLC bought a new position in Sachem Capital in the 3rd quarter valued at approximately $60,000. Barclays PLC acquired a new stake in shares of Sachem Capital during the 3rd quarter valued at $109,000. Geode Capital Management LLC increased its holdings in Sachem Capital by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 516,918 shares of the company’s stock worth $1,303,000 after purchasing an additional 33,317 shares in the last quarter. EP Wealth Advisors LLC bought a new position in Sachem Capital in the third quarter valued at about $233,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Sachem Capital by 124.5% during the third quarter. Janus Henderson Group PLC now owns 29,549 shares of the company’s stock valued at $74,000 after purchasing an additional 16,385 shares in the last quarter. Institutional investors own 18.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Alliance Global Partners downgraded shares of Sachem Capital from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a research report on Friday, November 15th. Oppenheimer reaffirmed an “outperform” rating and set a $2.50 target price (down from $4.00) on shares of Sachem Capital in a research report on Friday, December 6th.

Sachem Capital Stock Performance

Sachem Capital stock opened at $1.22 on Wednesday. The company has a market cap of $57.30 million, a price-to-earnings ratio of -6.42 and a beta of 1.64. Sachem Capital Corp. has a 52-week low of $1.11 and a 52-week high of $4.64. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.79 and a quick ratio of 1.79.

Sachem Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Monday, November 18th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.20 annualized dividend and a yield of 16.39%. Sachem Capital’s payout ratio is -105.26%.

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.