Sachem Capital (NYSEAMERICAN:SACH) Announces Earnings Results

Sachem Capital (NYSEAMERICAN:SACH) posted its earnings results on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, FiscalAI reports. Sachem Capital had a negative return on equity of 0.39% and a negative net margin of 1.54%.The firm had revenue of $3.03 million during the quarter, compared to analysts’ expectations of $11.19 million.

Sachem Capital Price Performance

SACH stock traded down $0.02 during midday trading on Thursday, reaching $0.83. The company had a trading volume of 58,630 shares, compared to its average volume of 280,194. The firm has a 50-day moving average price of $0.94 and a 200-day moving average price of $1.01. The company has a market capitalization of $39.84 million, a P/E ratio of -8.31 and a beta of 1.16. Sachem Capital has a 1 year low of $0.77 and a 1 year high of $1.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46.

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 of this dividend was Monday, June 15th. Sachem Capital’s payout ratio is currently -21.05%.

Institutional Investors Weigh In On Sachem Capital

A number of large investors have recently added to or reduced their stakes in SACH. Susquehanna International Group LLP increased its stake in Sachem Capital by 12.3% in the 3rd 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 period. Vanguard Group Inc. boosted its stake in shares of Sachem Capital by 1.7% during the third quarter. Vanguard Group Inc. now owns 2,349,235 shares of the company’s stock valued at $2,608,000 after purchasing an additional 40,159 shares during the period. Jane Street Group LLC grew its holdings in shares of Sachem Capital by 193.8% in 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. Renaissance Technologies LLC grew its holdings in Sachem Capital by 91.1% in 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 during the last quarter. Finally, Virtu Financial LLC bought a new stake in Sachem Capital in the 3rd quarter worth $37,000. Hedge funds and other institutional investors 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.