Sachem Capital (NYSEAMERICAN:SACH) Price Target Cut to $4.50 by Analysts at Oppenheimer

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

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

Sachem Capital Stock Performance

NYSEAMERICAN SACH opened at $3.21 on Monday. The company has a market capitalization of $152.08 million, a price-to-earnings ratio of 12.33, a P/E/G ratio of 0.17 and a beta of 1.69. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.74 and a quick ratio of 1.74. The stock’s fifty day moving average price is $3.68. Sachem Capital has a 1 year low of $2.98 and a 1 year high of $4.64.

Sachem Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Tuesday, April 9th were given a dividend of $0.11 per share. The ex-dividend date was Monday, April 8th. This represents a $0.44 annualized dividend and a dividend yield of 13.73%. Sachem Capital’s dividend payout ratio is currently 169.24%.

Institutional Investors Weigh In On Sachem Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. TIAA Trust National Association grew its position in 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 last quarter. Vanguard Group Inc. grew its holdings in shares of 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 during the last quarter. SG Americas Securities LLC acquired a new position in shares of Sachem Capital in the first quarter valued at approximately $55,000. Hartline Investment Corp bought a new position in Sachem Capital in the 1st quarter valued at approximately $85,000. Finally, Melia Wealth LLC acquired a new stake in Sachem Capital during the 1st quarter worth approximately $10,046,000. 18.07% of the stock is owned by institutional investors.

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.