Sachem Capital (NYSEAMERICAN:SACH) Trading Down 2.6% – Here’s Why

Shares of Sachem Capital Corp. (NYSEAMERICAN:SACH) traded down 2.6% on Tuesday . The company traded as low as $0.9151 and last traded at $0.9166. Approximately 170,710 shares changed hands during trading, a decline of 5% from the average session volume of 179,971 shares. The stock had previously closed at $0.9415.

Sachem Capital Trading Down 2.6%

The company’s fifty day moving average is $1.06 and its two-hundred day moving average is $1.04. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The stock has a market cap of $43.96 million, a price-to-earnings ratio of -9.17 and a beta of 1.15.

Sachem Capital (NYSEAMERICAN:SACH) last announced its quarterly earnings data on Wednesday, May 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). Sachem Capital had a negative net margin of 1.54% and a negative return on equity of 0.39%. The firm had revenue of $5.10 million during the quarter, compared to analysts’ expectations of $9.43 million.

Sachem Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. Sachem Capital’s dividend payout ratio is -21.05%.

Institutional Trading of Sachem Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of SACH. Virtu Financial LLC acquired a new position in shares of Sachem Capital during the 3rd quarter worth about $37,000. Napier Financial LLC purchased a new position in shares of Sachem Capital in the 4th quarter valued at about $38,000. Renaissance Technologies LLC raised its position in shares of Sachem Capital by 91.1% during the 4th quarter. Renaissance Technologies LLC now owns 45,862 shares of the company’s stock worth $48,000 after acquiring an additional 21,862 shares in the last quarter. Jane Street Group LLC lifted its stake in Sachem Capital by 193.8% during the first 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 during the last quarter. Finally, Susquehanna International Group LLP lifted its stake in 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 purchasing an additional 14,619 shares during the last quarter. 18.07% of the stock is currently owned by institutional investors and hedge funds.

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.