Sachem Capital (NYSEAMERICAN:SACH) PT Lowered to $4.00

Sachem Capital (NYSEAMERICAN:SACH) had its price target reduced by Oppenheimer from $4.50 to $4.00 in a research report sent to investors on Monday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Sachem Capital Stock Up 0.4 %

SACH opened at $2.31 on Monday. The firm has a market capitalization of $109.56 million, a price-to-earnings ratio of 8.88, a price-to-earnings-growth ratio of 0.13 and a beta of 1.72. Sachem Capital has a fifty-two week low of $2.22 and a fifty-two week high of $4.64. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.10. The stock’s 50-day simple moving average is $3.58.

Sachem Capital (NYSEAMERICAN:SACH) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.20). Sachem Capital had a net margin of 8.56% and a return on equity of 2.45%. The firm had revenue of $15.15 million during the quarter, compared to the consensus estimate of $16.14 million. Research analysts anticipate that Sachem Capital will post 0.39 earnings per share for the current year.

Sachem Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Monday, July 29th were given a $0.08 dividend. The ex-dividend date was Monday, July 29th. This represents a $0.32 dividend on an annualized basis and a yield of 13.85%. Sachem Capital’s dividend payout ratio (DPR) is 123.08%.

Institutional Investors Weigh In On Sachem Capital

A number of institutional investors and hedge funds have recently bought and sold shares of SACH. Marshall Wace LLP acquired a new position in shares of Sachem Capital in the 2nd quarter valued at $334,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Sachem Capital in the 2nd quarter valued at approximately $831,000. Renaissance Technologies LLC bought a new position in Sachem Capital in the 2nd quarter worth $30,000. J.W. Cole Advisors Inc. acquired a new position in shares of Sachem Capital during the 2nd quarter worth about $28,000. Finally, Brookstone Capital Management acquired a new stake in shares of Sachem Capital in the second quarter worth $46,000. 18.07% of the stock is owned by institutional investors and hedge funds.

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.