Sachem Capital (NYSEAMERICAN:SACH) Shares Cross Below Fifty Day Moving Average – What’s Next?

Sachem Capital Corp. (NYSEAMERICAN:SACH) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $0.86 and traded as low as $0.78. Sachem Capital shares last traded at $0.8268, with a volume of 259,561 shares trading hands.

Sachem Capital Stock Up 6.0%

The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $39.65 million, a P/E ratio of -3.18 and a beta of 1.16. The firm’s 50 day moving average price is $0.86 and its two-hundred day moving average price is $0.99.

Sachem Capital (NYSEAMERICAN:SACH) last announced its earnings results on Wednesday, August 5th. The company reported ($0.14) EPS for the quarter. Sachem Capital had a negative return on equity of 4.70% and a negative net margin of 18.74%.The business had revenue of $3.03 million for the quarter, compared to analyst estimates of $11.19 million.

Sachem Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Monday, June 15th. Sachem Capital’s dividend payout ratio (DPR) is currently -21.05%.

Institutional Investors Weigh In On Sachem Capital

Large investors have recently made changes to their positions in the stock. Melia Wealth LLC acquired a new position in Sachem Capital during the second quarter worth $2,642,000. Vanguard Group Inc. lifted its stake in Sachem Capital by 1.7% in the third quarter. Vanguard Group Inc. now owns 2,349,235 shares of the company’s stock valued at $2,608,000 after acquiring an additional 40,159 shares during the last quarter. BlackRock Inc. acquired a new stake in Sachem Capital in the second quarter valued at $547,000. GatePass Capital LLC grew its position in shares of Sachem Capital by 37.6% in the 4th quarter. GatePass Capital LLC now owns 199,500 shares of the company’s stock valued at $207,000 after acquiring an additional 54,500 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Sachem Capital by 227.3% in the 1st quarter. Renaissance Technologies LLC now owns 150,109 shares of the company’s stock valued at $152,000 after acquiring an additional 104,247 shares during the period. Institutional investors and hedge funds own 18.07% of the company’s stock.

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.