Sachem Capital Corp (NYSEAMERICAN:SACH) announced a dividend on Friday, October 16th, Fidelity reports. Stockholders of record on Monday, October 26th will be paid a dividend of 0.12 per share on Wednesday, November 4th. The ex-dividend date of this dividend is Friday, October 23rd.
Sachem Capital has a payout ratio of 137.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of Sachem Capital stock opened at $4.28 on Friday. Sachem Capital has a 1 year low of $1.20 and a 1 year high of $4.78.
SACH has been the subject of a number of analyst reports. LADENBURG THALM/SH SH raised shares of Sachem Capital from a “neutral” rating to a “buy” rating in a research report on Monday, August 10th. Aegis reiterated a “buy” rating and set a $4.00 price objective on shares of Sachem Capital in a research note on Tuesday, June 23rd. Finally, Zacks Investment Research upgraded shares of Sachem Capital from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a research note on Tuesday, October 6th.
Sachem Capital Company Profile
Sachem Capital Corp. operates as a real estate finance company. The company engages in originating, underwriting, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real property located primarily in Connecticut. It offers loans to real estate investors to fund their acquisition, renovation, development, rehabilitation, or improvement of properties located in Connecticut, Massachusetts, Florida, New York, Vermont, and Rhode Island.
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