Sachem Capital Corp. Declares Quarterly Dividend of $0.08 (NYSEAMERICAN:SACH)

Sachem Capital Corp. (NYSEAMERICAN:SACH) announced a quarterly dividend on Friday, July 19th, investing.com reports. Shareholders of record on Monday, July 29th will be given a dividend of 0.08 per share on Tuesday, August 6th. This represents a $0.32 annualized dividend and a yield of 11.68%. The ex-dividend date of this dividend is Monday, July 29th.

Sachem Capital has a payout ratio of 133.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Sachem Capital to earn $0.42 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 104.8%.

Sachem Capital Trading Up 3.8 %

Shares of NYSEAMERICAN SACH opened at $2.74 on Friday. Sachem Capital has a twelve month low of $2.43 and a twelve month high of $4.64. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.74 and a quick ratio of 1.74. The company has a fifty day moving average price of $3.64. The firm has a market capitalization of $130.01 million, a PE ratio of 10.54, a PEG ratio of 0.14 and a beta of 1.72.

Analyst Ratings Changes

Separately, Oppenheimer dropped their price objective on Sachem Capital from $5.00 to $4.50 and set an “outperform” rating for the company in a research note on Monday, May 20th.

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.