Zacks Investment Research upgraded shares of Sachem Capital (NYSEAMERICAN:SACH) from a hold rating to a buy rating in a research report report published on Tuesday morning, Zacks.com reports. The firm currently has $7.00 price objective on the stock.
According to Zacks, “Sachem Capital Corp. is a real estate finance company. It specializing in originating, underwriting, funding, servicing and managing a portfolio of short-term, hard money real estate loans. Sachem Capital Corp. is based in Brandford, United States. “
Separately, Aegis reaffirmed a buy rating and set a $8.00 target price on shares of Sachem Capital in a research note on Monday, October 25th.
Sachem Capital (NYSEAMERICAN:SACH) last announced its quarterly earnings data on Thursday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. Sachem Capital had a net margin of 42.64% and a return on equity of 9.91%. As a group, research analysts expect that Sachem Capital will post 0.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 10th. Stockholders of record on Friday, December 31st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 7.93%. The ex-dividend date of this dividend was Thursday, December 30th. Sachem Capital’s payout ratio is 111.63%.
Several hedge funds and other institutional investors have recently bought and sold shares of SACH. Moors & Cabot Inc. acquired a new stake in Sachem Capital in the third quarter valued at approximately $27,000. Personal CFO Solutions LLC acquired a new stake in Sachem Capital during the third quarter worth approximately $55,000. Two Sigma Advisers LP raised its holdings in Sachem Capital by 18.8% during the third quarter. Two Sigma Advisers LP now owns 374,900 shares of the company’s stock worth $2,047,000 after purchasing an additional 59,200 shares in the last quarter. Two Sigma Investments LP raised its holdings in Sachem Capital by 23.6% during the third quarter. Two Sigma Investments LP now owns 312,045 shares of the company’s stock worth $1,704,000 after purchasing an additional 59,589 shares in the last quarter. Finally, Beacon Financial Advisory LLC raised its holdings in Sachem Capital by 28.2% during the third quarter. Beacon Financial Advisory LLC now owns 27,255 shares of the company’s stock worth $149,000 after purchasing an additional 5,999 shares in the last quarter. 14.23% of the stock is owned by institutional investors and hedge funds.
About Sachem Capital
Sachem Capital Corp. is a real estate finance company, which engages in the provision of real estate investment trust services. The firm specializes in originating, underwriting, funding, servicing, and managing services for a portfolio of short-term loans. It offers short-term, secured, and non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation, or development of residential and commercial properties.
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