Sachem Capital Corp. (NYSEAMERICAN:SACH) Short Interest Update

Sachem Capital Corp. (NYSEAMERICAN:SACH) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 206,300 shares, a decrease of 28.8% from the September 30th total of 289,800 shares. Based on an average trading volume of 209,100 shares, the short-interest ratio is currently 1.0 days. Currently, 0.5% of the company’s stock are sold short. Currently, 0.5% of the company’s stock are sold short. Based on an average trading volume of 209,100 shares, the short-interest ratio is currently 1.0 days.

Institutional Trading of Sachem Capital

Several hedge funds and other institutional investors have recently made changes to their positions in SACH. Jane Street Group LLC grew its stake in shares of Sachem Capital by 193.8% in the 1st quarter. Jane Street Group LLC now owns 47,393 shares of the company’s stock worth $55,000 after buying an additional 31,260 shares during the last quarter. US Financial Advisors LLC lifted its position in Sachem Capital by 4.1% in the 1st quarter. US Financial Advisors LLC now owns 451,570 shares of the company’s stock valued at $524,000 after acquiring an additional 17,677 shares in the last quarter. Finally, Cox Capital Mgt LLC lifted its position in Sachem Capital by 93.2% in the 2nd quarter. Cox Capital Mgt LLC now owns 1,122,368 shares of the company’s stock valued at $1,347,000 after acquiring an additional 541,301 shares in the last quarter. Hedge funds and other institutional investors own 18.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SACH. Capital One Financial set a $1.20 target price on Sachem Capital in a report on Tuesday, October 28th. Oppenheimer reduced their target price on Sachem Capital from $2.50 to $2.00 and set an “outperform” rating on the stock in a report on Friday, September 19th. JMP Securities reiterated a “market perform” rating on shares of Sachem Capital in a report on Wednesday, July 9th. Finally, Citigroup reiterated a “market perform” rating on shares of Sachem Capital in a report on Wednesday, July 9th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Sachem Capital presently has a consensus rating of “Hold” and an average price target of $1.61.

Sachem Capital Stock Down 1.9%

Shares of Sachem Capital stock traded down $0.02 during midday trading on Tuesday, hitting $1.06. The company had a trading volume of 108,063 shares, compared to its average volume of 279,631. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market capitalization of $50.18 million, a P/E ratio of -1.18 and a beta of 1.18. The company has a 50 day moving average of $1.15 and a 200 day moving average of $1.12. Sachem Capital has a 52-week low of $0.80 and a 52-week high of $2.33.

Sachem Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.05 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.20 annualized dividend and a dividend yield of 18.9%. Sachem Capital’s dividend payout ratio is presently -105.26%.

About Sachem Capital

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.