Sachem Capital (NYSEAMERICAN:SACH) Shares Down 2.9% – Here’s Why

Sachem Capital Corp. (NYSEAMERICAN:SACH) shares were down 2.9% during trading on Thursday . The company traded as low as $0.99 and last traded at $1.00. Approximately 336,332 shares traded hands during mid-day trading, an increase of 196% from the average daily volume of 113,499 shares. The stock had previously closed at $1.03.

Wall Street Analyst Weigh In

Separately, Capital One Financial set a $1.20 price objective on Sachem Capital in a research note on Tuesday, October 28th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $1.48.

Sachem Capital Trading Down 2.9%

The stock has a fifty day simple moving average of $1.05 and a 200 day simple moving average of $1.10. The firm has a market capitalization of $47.69 million, a P/E ratio of -1.30 and a beta of 1.23. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 20.0%. The ex-dividend date was Monday, December 15th. Sachem Capital’s dividend payout ratio is presently -105.26%.

Institutional Investors Weigh In On Sachem Capital

Several institutional investors and hedge funds have recently modified their holdings of SACH. Susquehanna International Group LLP boosted its position in shares of Sachem Capital by 12.3% during the third quarter. Susquehanna International Group LLP now owns 133,614 shares of the company’s stock worth $148,000 after acquiring an additional 14,619 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Sachem Capital by 91.1% in the 4th quarter. Renaissance Technologies LLC now owns 45,862 shares of the company’s stock worth $48,000 after purchasing an additional 21,862 shares in the last quarter. Jane Street Group LLC lifted its stake in Sachem Capital by 193.8% in the 1st quarter. Jane Street Group LLC now owns 47,393 shares of the company’s stock worth $55,000 after purchasing an additional 31,260 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Sachem Capital during the 3rd quarter valued at about $37,000. Finally, Napier Financial LLC purchased a new position in shares of Sachem Capital during the fourth quarter valued at about $38,000. Institutional investors own 18.07% of the company’s stock.

Sachem Capital Company Profile

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.