Sachem Capital Corp. to Issue Quarterly Dividend of $0.05 (NYSEAMERICAN:SACH)

Sachem Capital Corp. (NYSEAMERICAN:SACH - Get Free Report) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Monday, November 18th will be given a dividend of 0.05 per share on Tuesday, November 26th. This represents a $0.20 dividend on an annualized basis and a yield of 9.71%. The ex-dividend date is Monday, November 18th.

Sachem Capital has a dividend payout ratio of 118.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Sachem Capital to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 72.7%.

Sachem Capital Price Performance

Shares of SACH traded up $0.01 during mid-day trading on Friday, reaching $2.06. 948,428 shares of the company's stock were exchanged, compared to its average volume of 326,419. The stock's fifty day simple moving average is $3.44. The stock has a market cap of $97.71 million, a PE ratio of 34.34, a PEG ratio of 0.28 and a beta of 1.73. Sachem Capital has a 52-week low of $1.94 and a 52-week high of $4.64. 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.20). The company had revenue of $15.15 million for the quarter, compared to analysts' expectations of $16.14 million. Sachem Capital had a return on equity of 2.45% and a net margin of 8.56%. Equities research analysts predict that Sachem Capital will post 0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.