Sachem Capital Corp. (NYSEAMERICAN:SACH) Short Interest Down 38.4% in May

Sachem Capital Corp. (NYSEAMERICAN:SACH) saw a significant drop in short interest in May. As of May 15th, there was short interest totaling 139,702 shares, a drop of 38.4% from the April 30th total of 226,949 shares. Based on an average daily trading volume, of 134,051 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SACH. Renaissance Technologies LLC boosted its stake in shares of Sachem Capital by 227.3% during the first quarter. Renaissance Technologies LLC now owns 150,109 shares of the company’s stock valued at $152,000 after purchasing an additional 104,247 shares in the last quarter. Napier Financial LLC acquired a new stake in shares of Sachem Capital during the fourth quarter valued at about $38,000. GatePass Capital LLC boosted its stake in shares of Sachem Capital by 37.6% during the fourth quarter. GatePass Capital LLC now owns 199,500 shares of the company’s stock valued at $207,000 after purchasing an additional 54,500 shares in the last quarter. Susquehanna International Group LLP boosted its stake in shares of Sachem Capital by 12.3% during the third quarter. Susquehanna International Group LLP now owns 133,614 shares of the company’s stock valued at $148,000 after purchasing an additional 14,619 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Sachem Capital during the third quarter valued at about $37,000. Institutional investors own 18.07% of the company’s stock.

Sachem Capital Stock Up 0.8%

SACH opened at $1.20 on Friday. Sachem Capital has a fifty-two week low of $0.90 and a fifty-two week high of $1.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market capitalization of $57.55 million, a P/E ratio of -12.00 and a beta of 1.12. The stock has a fifty day moving average of $1.09 and a 200-day moving average of $1.06.

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

Sachem Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.01 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 3.3%. Sachem Capital’s dividend payout ratio (DPR) is presently -105.26%.

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.