Sachem Capital Corp. (NYSEAMERICAN:SACH) Sees Significant Drop in Short Interest

Sachem Capital Corp. (NYSEAMERICAN:SACH - Get Free Report) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 1,180,000 shares, a decrease of 29.3% from the September 15th total of 1,670,000 shares. Based on an average daily volume of 308,300 shares, the days-to-cover ratio is currently 3.8 days.

Analysts Set New Price Targets

Separately, Oppenheimer reduced their price objective on shares of Sachem Capital from $4.50 to $4.00 and set an "outperform" rating on the stock in a research note on Monday, August 19th.

Hedge Funds Weigh In On Sachem Capital

Large investors have recently modified their holdings of the stock. Melia Wealth LLC bought a new position in Sachem Capital during the first quarter worth $10,046,000. Mercer Global Advisors Inc. ADV bought a new position in Sachem Capital during the second quarter worth $831,000. Marshall Wace LLP bought a new position in Sachem Capital during the second quarter worth $334,000. Quadrature Capital Ltd bought a new position in Sachem Capital during the fourth quarter worth $78,000. Finally, Hartline Investment Corp bought a new position in Sachem Capital during the first quarter worth $85,000. Institutional investors own 18.07% of the company's stock.

Sachem Capital Stock Up 2.1 %

Shares of Sachem Capital stock traded up $0.05 during trading hours on Friday, hitting $2.48. The company's stock had a trading volume of 193,519 shares, compared to its average volume of 326,634. Sachem Capital has a 1-year low of $2.22 and a 1-year high of $4.64. The firm has a fifty day moving average price of $3.51. The firm has a market cap of $117.63 million, a P/E ratio of 41.34, a PEG ratio of 0.31 and a beta of 1.73. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.10.

Sachem Capital (NYSEAMERICAN:SACH - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.20). The firm had revenue of $15.15 million for the quarter, compared to analyst estimates of $16.14 million. Sachem Capital had a net margin of 8.56% and a return on equity of 2.45%. On average, sell-side analysts anticipate that Sachem Capital will post 0.17 earnings per share for the current fiscal year.

Sachem Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Monday, July 29th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 12.90%. The ex-dividend date of this dividend was Monday, July 29th. Sachem Capital's dividend payout ratio is currently 533.42%.

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.