Sachem Capital Corp. Declares Dividend of $0.11 (NYSEAMERICAN:SACH)

Sachem Capital Corp. (NYSEAMERICAN:SACHGet Free Report) announced a dividend on Tuesday, April 2nd, investing.com reports. Stockholders of record on Tuesday, April 9th will be given a dividend of 0.11 per share on Tuesday, April 16th. This represents a dividend yield of 9.87%. The ex-dividend date of this dividend is Monday, April 8th.

Sachem Capital has a dividend payout ratio of 97.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Sachem Capital to earn $0.41 per share next year, which means the company may not be able to cover its $0.44 annual dividend with an expected future payout ratio of 107.3%.

Sachem Capital Price Performance

NYSEAMERICAN:SACH opened at $3.67 on Tuesday. The stock’s 50 day simple moving average is $3.71. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.21. Sachem Capital has a one year low of $2.98 and a one year high of $4.64. The firm has a market cap of $166.47 million, a P/E ratio of 9.70, a PEG ratio of 0.23 and a beta of 1.62.

Institutional Investors Weigh In On Sachem Capital

Several institutional investors have recently added to or reduced their stakes in SACH. Vanguard Group Inc. increased its position in shares of Sachem Capital by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 2,269,061 shares of the company’s stock valued at $8,486,000 after buying an additional 57,096 shares during the period. BlackRock Inc. increased its position in shares of Sachem Capital by 20.0% during the second quarter. BlackRock Inc. now owns 527,276 shares of the company’s stock valued at $1,840,000 after buying an additional 87,902 shares during the period. Geode Capital Management LLC increased its position in shares of Sachem Capital by 1.2% during the second quarter. Geode Capital Management LLC now owns 369,052 shares of the company’s stock valued at $1,288,000 after buying an additional 4,363 shares during the period. Marshall Wace LLP increased its position in shares of Sachem Capital by 403.1% in the fourth quarter. Marshall Wace LLP now owns 353,081 shares of the company’s stock worth $1,165,000 after purchasing an additional 282,901 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of Sachem Capital by 1.1% in the third quarter. Two Sigma Advisers LP now owns 256,200 shares of the company’s stock worth $853,000 after purchasing an additional 2,800 shares during the last quarter. 18.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners assumed coverage on shares of Sachem Capital in a research note on Monday, March 18th. They set a “buy” rating and a $4.50 price target for the company.

View Our Latest Stock Report on Sachem Capital

About Sachem Capital

(Get Free Report)

Sachem Capital Corp. operates as a real estate finance company. The company is involved in the originating, underwriting, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real property located primarily in Northeastern United States and Florida. It offers loans to real estate investors and owners to fund their acquisition, renovation, rehabilitation, development, and/or improvement of residential or commercial properties.

Further Reading

Dividend History for Sachem Capital (NYSEAMERICAN:SACH)

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