Sachem Capital Corp. (NYSEAMERICAN:SACH) Sees Large Decrease in Short Interest

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) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 555,300 shares, adecreaseof37.7% from the July 15th total of 891,400 shares. Based on an average trading volume of 216,800 shares, the days-to-cover ratio is currently 2.6 days. Currently,1.2% of the shares of the stock are sold short. Currently,1.2% of the shares of the stock are sold short. Based on an average trading volume of 216,800 shares, the days-to-cover ratio is currently 2.6 days.

Sachem Capital Price Performance

Shares of NYSEAMERICAN SACH traded up $0.07 during mid-day trading on Friday, hitting $1.24. 221,570 shares of the company's stock traded hands, compared to its average volume of 126,768. The company's 50-day moving average is $1.17 and its two-hundred day moving average is $1.11. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market capitalization of $58.70 million, a P/E ratio of -1.38, a PEG ratio of 0.66 and a beta of 1.10. Sachem Capital has a 1 year low of $0.8006 and a 1 year high of $2.70.

Sachem Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 16.1%. The ex-dividend date was Monday, June 16th. Sachem Capital's dividend payout ratio is currently -105.26%.

Institutional Trading of Sachem Capital

Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC raised its position in shares of Sachem Capital by 193.8% during the 1st quarter. Jane Street Group LLC now owns 47,393 shares of the company's stock valued at $55,000 after buying an additional 31,260 shares in the last quarter. Vident Advisory LLC purchased a new stake in shares of Sachem Capital during the 4th quarter valued at about $119,000. Renaissance Technologies LLC raised its position in shares of Sachem Capital by 113.9% during the 4th quarter. Renaissance Technologies LLC now owns 136,706 shares of the company's stock valued at $185,000 after buying an additional 72,806 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Sachem Capital during the 4th quarter valued at about $315,000. Finally, US Financial Advisors LLC raised its position in shares of Sachem Capital by 4.1% during the 1st quarter. US Financial Advisors LLC now owns 451,570 shares of the company's stock valued at $524,000 after buying an additional 17,677 shares in the last quarter. 18.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SACH has been the subject of a number of research reports. JMP Securities restated a "market perform" rating on shares of Sachem Capital in a research 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 research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $1.92.

Sachem Capital Company 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.