Penserra Capital Management LLC Has $805,000 Stake in Sachem Capital Corp. (NYSEAMERICAN:SACH)

Penserra Capital Management LLC raised its stake in Sachem Capital Corp. (NYSEAMERICAN:SACH) by 23.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 319,667 shares of the company’s stock after acquiring an additional 59,675 shares during the period. Penserra Capital Management LLC’s holdings in Sachem Capital were worth $805,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV acquired a new position in shares of Sachem Capital in the 2nd quarter worth approximately $831,000. Marshall Wace LLP acquired a new position in Sachem Capital in the second quarter worth $334,000. One Charles Private Wealth Services LLC bought a new stake in shares of Sachem Capital during the third quarter worth $97,000. Teamwork Financial Advisors LLC increased its stake in shares of Sachem Capital by 78.4% in the third quarter. Teamwork Financial Advisors LLC now owns 74,551 shares of the company’s stock valued at $188,000 after buying an additional 32,757 shares in the last quarter. Finally, Brookstone Capital Management bought a new position in shares of Sachem Capital in the second quarter valued at about $46,000. 18.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented 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 report on Friday, November 15th. Oppenheimer decreased their price target on shares of Sachem Capital from $4.50 to $4.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th.

Sachem Capital Stock Performance

SACH stock opened at $1.55 on Thursday. 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 Corp. has a twelve month low of $1.44 and a twelve month high of $4.64. The firm has a market cap of $72.80 million, a PE ratio of -8.47, a PEG ratio of 0.20 and a beta of 1.73.

Sachem Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, November 18th. This represents a $0.20 annualized dividend and a yield of 12.90%. Sachem Capital’s dividend payout ratio is currently -105.26%.

Sachem Capital 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.