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

Sachem Capital Corp. (NYSEAMERICAN:SACH) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totaling 153,449 shares, a decrease of 46.8% from the November 30th total of 288,314 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average trading volume of 297,071 shares, the short-interest ratio is currently 0.5 days. Based on an average trading volume of 297,071 shares, the short-interest ratio is currently 0.5 days. Approximately 0.3% of the company’s stock are short sold.

Sachem Capital Price Performance

Shares of NYSEAMERICAN:SACH opened at $1.00 on Friday. The company has a market cap of $47.69 million, a PE ratio of -1.30 and a beta of 1.22. Sachem Capital has a fifty-two week low of $0.80 and a fifty-two week high of $1.40. The firm has a 50-day simple moving average of $1.05 and a 200 day simple moving average of $1.13. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.05.

Sachem Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 20.0%. The ex-dividend date is Monday, December 15th. Sachem Capital’s dividend payout ratio is presently -105.26%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its position in 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 buying an additional 31,260 shares during the period. Cox Capital Mgt LLC grew its position in shares of Sachem Capital by 93.2% during the second quarter. Cox Capital Mgt LLC now owns 1,122,368 shares of the company’s stock worth $1,347,000 after acquiring an additional 541,301 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Sachem Capital by 1.7% during the third quarter. Vanguard Group Inc. now owns 2,349,235 shares of the company’s stock worth $2,608,000 after acquiring an additional 40,159 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Sachem Capital in the 3rd quarter worth about $37,000. Finally, Susquehanna International Group LLP lifted its position in Sachem Capital by 12.3% in the 3rd quarter. Susquehanna International Group LLP now owns 133,614 shares of the company’s stock valued at $148,000 after purchasing an additional 14,619 shares during the last quarter. Institutional investors and hedge funds own 18.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Oppenheimer decreased their price objective on shares of Sachem Capital from $2.50 to $2.00 and set an “outperform” rating for the company in a report on Friday, September 19th. Capital One Financial set a $1.20 price objective on Sachem Capital in a report on Tuesday, October 28th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Sachem Capital currently has a consensus rating of “Hold” and an average price target of $1.48.

About Sachem Capital

Sachem Capital Corp (NYSEAMERICAN:SACH) is an externally managed, non-diversified closed-end management investment trust that seeks to provide shareholders with current income and long-term capital appreciation. The trust is managed by Sachem Capital Management, L.P., an affiliate of Sachem Wealth Management, and its shares trade on the NYSE American exchange.

The trust’s investment strategy focuses on a diversified portfolio of senior secured debt obligations, including first and second lien loans, mezzanine loans, high-yield bonds and preferred equity.