Sachem Capital (NYSEAMERICAN:SACH) Downgraded to “Neutral” Rating by Alliance Global Partners

Alliance Global Partners downgraded shares of Sachem Capital (NYSEAMERICAN:SACH) from a buy rating to a neutral rating in a research note issued to investors on Friday, MarketBeat Ratings reports. Alliance Global Partners currently has $2.00 target price on the stock.

Separately, Oppenheimer decreased their price objective on shares of Sachem Capital from $4.50 to $4.00 and set an “outperform” rating for the company in a research note on Monday, August 19th.

Sachem Capital Price Performance

Shares of SACH stock traded down $0.02 during trading hours on Friday, reaching $1.79. 663,106 shares of the stock were exchanged, compared to its average volume of 331,891. Sachem Capital has a 12-month low of $1.74 and a 12-month high of $4.64. The stock has a fifty day moving average price of $3.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.78 and a quick ratio of 1.78. The stock has a market cap of $84.90 million, a price-to-earnings ratio of 29.75, a P/E/G ratio of 0.24 and a beta of 1.73.

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 business had revenue of $15.15 million for the quarter, compared to analysts’ expectations of $16.14 million. As a group, equities research analysts predict that Sachem Capital will post 0.17 earnings per share for the current fiscal year.

Sachem Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Monday, November 18th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 11.17%. The ex-dividend date of this dividend is Monday, November 18th. Sachem Capital’s payout ratio is currently 533.42%.

Institutional Investors Weigh In On Sachem Capital

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Sachem Capital in the 1st quarter worth approximately $55,000. Vanguard Group Inc. boosted its position in shares of Sachem Capital by 0.6% in the first quarter. Vanguard Group Inc. now owns 2,283,214 shares of the company’s stock worth $10,183,000 after acquiring an additional 14,153 shares during the last quarter. TIAA Trust National Association grew its holdings in Sachem Capital by 43.9% in the first quarter. TIAA Trust National Association now owns 47,500 shares of the company’s stock valued at $212,000 after purchasing an additional 14,500 shares during the period. Brookstone Capital Management acquired a new position in Sachem Capital during the second quarter worth approximately $46,000. Finally, J.W. Cole Advisors Inc. purchased a new position in Sachem Capital during the second quarter worth approximately $28,000. 18.07% of the stock is owned by institutional investors and hedge funds.

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.