Raymond James Financial Services Advisors Inc. Invests $53,000 in Sachem Capital Corp. (NYSEAMERICAN:SACH)

Raymond James Financial Services Advisors Inc. bought a new position in shares of Sachem Capital Corp. (NYSEAMERICAN:SACH) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,130 shares of the company’s stock, valued at approximately $53,000.

Several other hedge funds have also modified their holdings of SACH. B. Riley Wealth Advisors Inc. acquired a new position in Sachem Capital in the 3rd quarter worth approximately $41,000. Nisa Investment Advisors LLC grew its holdings in shares of Sachem Capital by 81.3% during the third quarter. Nisa Investment Advisors LLC now owns 15,883 shares of the company’s stock valued at $56,000 after buying an additional 7,120 shares in the last quarter. Barclays PLC acquired a new position in Sachem Capital during the third quarter valued at $86,000. Commonwealth Equity Services LLC boosted its position in Sachem Capital by 12.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 30,788 shares of the company’s stock worth $109,000 after acquiring an additional 3,320 shares during the period. Finally, Jump Financial LLC purchased a new position in Sachem Capital during the 3rd quarter valued at about $126,000. 18.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners began coverage on shares of Sachem Capital in a research report on Monday, March 18th. They issued a “buy” rating and a $4.50 price target for the company.

Sachem Capital Stock Up 2.2 %

SACH stock opened at $3.25 on Friday. The company has a market capitalization of $154.21 million, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 0.17 and a beta of 1.62. The business has a 50 day simple moving average of $3.69. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.74 and a quick ratio of 1.74. Sachem Capital Corp. has a 12 month low of $2.98 and a 12 month high of $4.64.

Sachem Capital Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Tuesday, April 9th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 13.54%. The ex-dividend date was Monday, April 8th. Sachem Capital’s dividend payout ratio (DPR) is 157.14%.

Sachem Capital Profile

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.