Cox Capital Mgt LLC purchased a new stake in Sachem Capital Corp. (NYSEAMERICAN:SACH – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 601,518 shares of the company’s stock, valued at approximately $812,000. Cox Capital Mgt LLC owned 1.28% of Sachem Capital as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in SACH. J.W. Cole Advisors Inc. bought a new position in Sachem Capital in the second quarter valued at $28,000. Renaissance Technologies LLC acquired a new stake in shares of Sachem Capital in the second quarter valued at about $30,000. JB Capital LLC raised its holdings in Sachem Capital by 32.7% during the third quarter. JB Capital LLC now owns 20,301 shares of the company’s stock worth $51,000 after acquiring an additional 5,006 shares in the last quarter. Virtu Financial LLC acquired a new position in Sachem Capital during the third quarter valued at approximately $60,000. Finally, Janus Henderson Group PLC grew its stake in Sachem Capital by 124.5% in 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. 18.07% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently weighed in on SACH. Alliance Global Partners lowered shares of Sachem Capital from a “buy” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a research note on Friday, November 15th. Oppenheimer reiterated an “outperform” rating and set a $2.50 target price (down from $4.00) on shares of Sachem Capital in a research note on Friday, December 6th.
Sachem Capital Stock Performance
NYSEAMERICAN SACH opened at $1.22 on Wednesday. Sachem Capital Corp. has a 52-week low of $1.11 and a 52-week high of $4.64. The stock has a market cap of $57.30 million, a PE ratio of -6.42 and a beta of 1.64. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.11.
Sachem Capital Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Monday, November 18th were paid 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 dividend payout ratio (DPR) is presently -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.
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