Short Interest in Sachem Capital Corp. (NYSEAMERICAN:SACH) Drops By 34.4%

Sachem Capital Corp. (NYSEAMERICAN:SACH) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 91,695 shares, a decline of 34.4% from the May 14th total of 139,702 shares. Based on an average trading volume of 2,140,875 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.2% of the company’s shares are short sold.

Sachem Capital Trading Down 0.5%

SACH traded down $0.01 during trading on Tuesday, reaching $0.99. 137,144 shares of the company’s stock were exchanged, compared to its average volume of 320,518. Sachem Capital has a one year low of $0.90 and a one year high of $1.45. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $47.24 million, a PE ratio of -9.85 and a beta of 1.12. The firm has a fifty day moving average price of $1.09 and a two-hundred day moving average price 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 business had revenue of $5.10 million for the quarter, compared to the consensus estimate of $9.43 million.

Sachem Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, June 15th. This represents a $0.04 annualized dividend and a dividend yield of 4.1%. Sachem Capital’s dividend payout ratio is -105.26%.

Institutional Investors Weigh In On Sachem Capital

Several large investors have recently modified their holdings of SACH. Jane Street Group LLC increased its position in shares of Sachem Capital by 193.8% during the first 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 period. Vanguard Group Inc. increased its position 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 worth $2,608,000 after buying an additional 40,159 shares during the period. Virtu Financial LLC acquired a new stake in shares of Sachem Capital during the third quarter worth $37,000. Susquehanna International Group LLP increased its position 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 worth $148,000 after buying an additional 14,619 shares during the period. Finally, GatePass Capital LLC increased its position 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 worth $207,000 after buying an additional 54,500 shares during the period. 18.07% of the stock is currently owned by institutional investors and hedge funds.

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.