Sachem Capital (NYSEAMERICAN:SACH) Shares Up 5.2%

Sachem Capital Corp. (NYSEAMERICAN:SACH) shot up 5.2% during trading on Thursday . The stock traded as high as $2.61 and last traded at $2.61. 303,046 shares changed hands during trading, a decline of 10% from the average session volume of 336,780 shares. The stock had previously closed at $2.48.

Analysts Set New Price Targets

Separately, Oppenheimer dropped 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

The stock has a market capitalization of $123.79 million, a PE ratio of 10.04, a PEG ratio of 0.31 and a beta of 1.73. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $3.55.

Sachem Capital (NYSEAMERICAN:SACH) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.20). Sachem Capital had a return on equity of 2.45% and a net margin of 8.56%. The firm had revenue of $15.15 million during the quarter, compared to analysts’ expectations of $16.14 million. On average, analysts expect that Sachem Capital Corp. will post 0.17 earnings per share for the current fiscal year.

Sachem Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Monday, July 29th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 12.26%. The ex-dividend date was Monday, July 29th. Sachem Capital’s dividend payout ratio (DPR) is 123.08%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Marshall Wace LLP bought a new position in shares of Sachem Capital in the second quarter worth approximately $334,000. Mercer Global Advisors Inc. ADV bought a new position in Sachem Capital during the second quarter valued at approximately $831,000. Renaissance Technologies LLC bought a new position in Sachem Capital during the second quarter valued at approximately $30,000. J.W. Cole Advisors Inc. bought a new position in Sachem Capital during the second quarter valued at approximately $28,000. Finally, Brookstone Capital Management bought a new position in Sachem Capital during the second quarter valued at approximately $46,000. 18.07% of the stock is currently 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.