Sachem Capital (NYSEAMERICAN:SACH) Receives "Outperform" Rating from Oppenheimer

Oppenheimer reissued their outperform rating on shares of Sachem Capital (NYSEAMERICAN:SACH - Free Report) in a report released on Friday,Benzinga reports. Oppenheimer currently has a $2.50 price target on the stock, down from their prior price target of $4.00.

Separately, Alliance Global Partners downgraded shares of Sachem Capital from a "buy" rating to a "neutral" rating and set a $2.00 price objective for the company. in a research note on Friday, November 15th.

Sachem Capital Stock Performance

Shares of Sachem Capital stock traded up $0.02 during trading on Friday, reaching $1.39. The company's stock had a trading volume of 443,137 shares, compared to its average volume of 647,374. Sachem Capital has a 52-week low of $1.35 and a 52-week high of $4.64. 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 announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th were paid a $0.05 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 14.39%. Sachem Capital's dividend payout ratio is presently -105.26%.

Institutional Investors Weigh In On Sachem Capital

Institutional investors have recently modified their holdings of the business. J.W. Cole Advisors Inc. purchased a new position in shares of Sachem Capital in the 2nd quarter worth $28,000. Renaissance Technologies LLC bought a new stake in shares of Sachem Capital during the 2nd quarter valued at about $30,000. Brookstone Capital Management purchased a new stake in shares of Sachem Capital during the 2nd quarter valued at about $46,000. JB Capital LLC lifted its stake in shares of Sachem Capital by 32.7% in the 3rd quarter. JB Capital LLC now owns 20,301 shares of the company's stock worth $51,000 after purchasing an additional 5,006 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Sachem Capital in the third quarter worth approximately $60,000. 18.07% of the stock is owned by hedge funds and other institutional investors.

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.