Sachem Capital Corp. (NYSEAMERICAN:SACH) Short Interest Down 37.7% in July

Key Points

• Sachem Capital Corp. experienced a significant drop in short interest, decreasing by 37.7% in July, with current short interest totaling 555,300 shares.
• The company announced a quarterly dividend of $0.05, resulting in an annualized dividend yield of 17.4%, although it has a negative payout ratio of -105.26%.
• Brokerages maintain a consensus rating of "Hold" on Sachem Capital, with a target price of $1.92, while institutional investors own 18.07% of the company's stock.

Sachem Capital Corp. (NYSEAMERICAN:SACH - Get Free Report) saw a large drop in short interest in July. As of July 31st, there was short interest totaling 555,300 shares, adropof37.7% from the July 15th total of 891,400 shares. Currently,1.2% of the company's stock are sold short. Based on an average trading volume of 216,800 shares, the short-interest ratio is presently 2.6 days. Based on an average trading volume of 216,800 shares, the short-interest ratio is presently 2.6 days. Currently,1.2% of the company's stock are sold short.

Sachem Capital Price Performance

Shares of Sachem Capital stock remained flat at $1.15 on Tuesday. 123,569 shares of the stock traded hands, compared to its average volume of 125,265. The business has a 50 day simple moving average of $1.17 and a 200-day simple moving average of $1.11. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.09. The stock has a market cap of $54.44 million, a P/E ratio of -1.28, a PEG ratio of 0.61 and a beta of 1.10. Sachem Capital has a twelve month low of $0.8006 and a twelve month high of $2.70.

Sachem Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.20 annualized dividend and a dividend yield of 17.4%. Sachem Capital's payout ratio is currently -105.26%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SACH. JMP Securities reissued a "market perform" rating on shares of Sachem Capital in a report on Wednesday, July 9th. Citigroup restated a "market perform" rating on shares of Sachem Capital in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $1.92.

Hedge Funds Weigh In On Sachem Capital

Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC increased its position in shares of Sachem Capital by 193.8% in the first quarter. Jane Street Group LLC now owns 47,393 shares of the company's stock worth $55,000 after acquiring an additional 31,260 shares in the last quarter. Vident Advisory LLC acquired a new stake in shares of Sachem Capital during the fourth quarter worth approximately $119,000. Renaissance Technologies LLC boosted its holdings in shares of Sachem Capital by 113.9% during the fourth quarter. Renaissance Technologies LLC now owns 136,706 shares of the company's stock worth $185,000 after purchasing an additional 72,806 shares during the period. Ancora Advisors LLC acquired a new stake in Sachem Capital in the fourth quarter valued at approximately $315,000. Finally, US Financial Advisors LLC lifted its stake in Sachem Capital by 4.1% in the first quarter. US Financial Advisors LLC now owns 451,570 shares of the company's stock valued at $524,000 after acquiring an additional 17,677 shares during the last quarter. Institutional investors and hedge funds own 18.07% of the company's stock.

About Sachem Capital

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.

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