Sachem Capital (NYSEAMERICAN:SACH – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued to investors on Tuesday, Zacks.com reports.
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, Oppenheimer started coverage on shares of Sachem Capital in a report on Wednesday, April 27th. They set an “outperform” rating and a $6.00 price objective on the stock.
Sachem Capital (NYSEAMERICAN:SACH – Get Rating) last issued its quarterly earnings results on Thursday, March 31st. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Sachem Capital had a return on equity of 8.50% and a net margin of 41.55%. On average, research analysts anticipate that Sachem Capital will post 0.5 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of SACH. Marshall Wace LLP bought a new position in Sachem Capital during the fourth quarter valued at approximately $1,418,000. Citadel Advisors LLC grew its holdings in shares of Sachem Capital by 3,747.0% in the fourth quarter. Citadel Advisors LLC now owns 188,501 shares of the company’s stock worth $1,101,000 after purchasing an additional 183,601 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Sachem Capital in the fourth quarter worth approximately $1,041,000. Renaissance Technologies LLC grew its holdings in shares of Sachem Capital by 21.2% in the fourth quarter. Renaissance Technologies LLC now owns 528,800 shares of the company’s stock worth $3,088,000 after purchasing an additional 92,624 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new position in shares of Sachem Capital in the fourth quarter worth approximately $398,000. Institutional investors and hedge funds own 19.49% of the company’s stock.
About Sachem Capital (Get Rating)
Sachem Capital Corp. operates as a real estate finance company. The company is involved in the originating, underwriting, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real property located primarily in Northeastern United States and Florida. It offers loans to real estate investors and owners to fund their acquisition, renovation, rehabilitation, development, and/or improvement of residential or commercial properties.
- Get a free copy of the StockNews.com research report on Sachem Capital (SACH)
- High-Yield Deep-Value LCI Industries Exceeds All Expectations
- Shopify (NYSE: SHOP) Approaches Key Support Level
- Intuitive Surgical is an Intuitive Buy
- Follow The Money To Cigna
- The Low In Lordstown Motors May Not Be The Last
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sachem Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sachem Capital and related companies with MarketBeat.com's FREE daily email newsletter.