Short Interest in Sachem Capital Corp. (NYSEAMERICAN:SACH) Drops By 24.1%

Sachem Capital Corp. (NYSEAMERICAN:SACH) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 1,260,000 shares, a drop of 24.1% from the March 15th total of 1,660,000 shares. Based on an average daily trading volume, of 404,600 shares, the short-interest ratio is currently 3.1 days. Currently, 2.8% of the shares of the stock are sold short.

Sachem Capital Stock Performance

SACH traded down $0.01 during trading on Monday, hitting $0.99. The stock had a trading volume of 98,928 shares, compared to its average volume of 375,632. The firm has a market capitalization of $46.46 million, a P/E ratio of -5.21, a PEG ratio of 0.09 and a beta of 1.65. The company’s 50-day moving average price is $1.09 and its 200 day moving average price is $1.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.79 and a current ratio of 1.79. Sachem Capital has a twelve month low of $0.96 and a twelve month high of $3.26.

Sachem Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 20.22%. Sachem Capital’s payout ratio is -105.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SACH shares. LADENBURG THALM/SH SH reiterated a “neutral” rating on shares of Sachem Capital in a research report on Thursday, April 3rd. Industrial Alliance Securities set a $1.25 price target on Sachem Capital in a report on Friday, March 28th. Finally, Alliance Global Partners reissued a “neutral” rating on shares of Sachem Capital in a research report on Friday, March 28th.

Institutional Trading of Sachem Capital

Several institutional investors and hedge funds have recently modified their holdings of the business. US Financial Advisors LLC grew its position in Sachem Capital by 2.4% during the fourth quarter. US Financial Advisors LLC now owns 433,893 shares of the company’s stock valued at $586,000 after acquiring an additional 10,315 shares during the period. Vident Advisory LLC purchased a new stake in shares of Sachem Capital during the 4th quarter worth about $119,000. Ancora Advisors LLC acquired a new stake in Sachem Capital during the 4th quarter worth approximately $315,000. Melia Wealth LLC raised its holdings in Sachem Capital by 2.5% in the fourth quarter. Melia Wealth LLC now owns 3,414,184 shares of the company’s stock valued at $4,609,000 after buying an additional 83,886 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Sachem Capital by 113.9% during the fourth quarter. Renaissance Technologies LLC now owns 136,706 shares of the company’s stock valued at $185,000 after buying an additional 72,806 shares in the last quarter. Hedge funds and other institutional investors own 18.07% of the company’s stock.

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.