Sachem Capital Corp. (NYSEAMERICAN:SACH) Sees Significant Increase in Short Interest

Sachem Capital Corp. (NYSEAMERICAN:SACH) was the recipient of a significant increase in short interest in February. As of February 15th, there was short interest totalling 1,840,000 shares, an increase of 26.9% from the January 31st total of 1,450,000 shares. Based on an average daily volume of 457,800 shares, the short-interest ratio is presently 4.0 days.

Institutional Trading of Sachem Capital

Several institutional investors and hedge funds have recently made changes to their positions in SACH. Cox Capital Mgt LLC bought a new stake in Sachem Capital during the 4th quarter valued at $812,000. Geode Capital Management LLC increased its position in Sachem Capital by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 516,918 shares of the company’s stock valued at $1,303,000 after purchasing an additional 33,317 shares during the period. Barclays PLC purchased a new stake in shares of Sachem Capital in the 3rd quarter worth approximately $109,000. US Financial Advisors LLC boosted its stake in shares of Sachem Capital by 3.0% during the third quarter. US Financial Advisors LLC now owns 423,578 shares of the company’s stock valued at $1,067,000 after purchasing an additional 12,428 shares in the last quarter. Finally, JB Capital LLC increased its holdings in Sachem Capital by 32.7% during the third quarter. JB Capital LLC now owns 20,301 shares of the company’s stock valued at $51,000 after buying an additional 5,006 shares during the period. 18.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SACH shares. Alliance Global Partners lowered shares of Sachem Capital from a “buy” rating to a “neutral” rating and set a $2.00 price objective for the company. in a research report on Friday, November 15th. Oppenheimer reiterated an “outperform” rating and issued a $2.50 price target (down previously from $4.00) on shares of Sachem Capital in a research report on Friday, December 6th.

Sachem Capital Price Performance

Shares of SACH traded up $0.09 during midday trading on Thursday, hitting $1.14. The stock had a trading volume of 536,316 shares, compared to its average volume of 376,098. Sachem Capital has a 1 year low of $1.00 and a 1 year high of $4.64. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $1.16. The stock has a market capitalization of $53.55 million, a price-to-earnings ratio of -6.00, a PEG ratio of 0.09 and a beta of 1.65.

Sachem Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 17.54%. Sachem Capital’s payout ratio is -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.