Darden Wealth Group Inc Sells 69,000 Shares of Sachem Capital Corp. (NYSEAMERICAN:SACH)

Darden Wealth Group Inc trimmed its holdings in Sachem Capital Corp. (NYSEAMERICAN:SACH) by 37.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,000 shares of the company’s stock after selling 69,000 shares during the quarter. Darden Wealth Group Inc’s holdings in Sachem Capital were worth $285,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Sachem Capital by 0.6% during the first quarter. Vanguard Group Inc. now owns 2,283,214 shares of the company’s stock valued at $10,183,000 after buying an additional 14,153 shares during the last quarter. US Financial Advisors LLC boosted its position in shares of Sachem Capital by 3.0% during the 3rd quarter. US Financial Advisors LLC now owns 423,578 shares of the company’s stock valued at $1,067,000 after acquiring an additional 12,428 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Sachem Capital in the second quarter valued at $831,000. Marshall Wace LLP bought a new stake in Sachem Capital in the second quarter worth $334,000. Finally, Teamwork Financial Advisors LLC raised its stake in Sachem Capital by 78.4% during the third quarter. Teamwork Financial Advisors LLC now owns 74,551 shares of the company’s stock valued at $188,000 after purchasing an additional 32,757 shares in the last quarter. 18.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Oppenheimer dropped their price objective on shares of Sachem Capital from $4.50 to $4.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Alliance Global Partners lowered Sachem Capital from a “buy” rating to a “neutral” rating and set a $2.00 price target for the company. in a research report on Friday, November 15th.

Sachem Capital Trading Down 4.2 %

Shares of SACH opened at $1.59 on Friday. The company has a fifty day moving average price of $3.35. The stock has a market capitalization of $74.68 million, a P/E ratio of -8.37, a P/E/G ratio of 0.21 and a beta of 1.73. The company has a current ratio of 1.79, a quick 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.

Sachem Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Monday, November 18th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 12.58%. The ex-dividend date of this dividend is Monday, November 18th. Sachem Capital’s dividend payout ratio (DPR) 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.