Sachem Capital Corp. (NYSEAMERICAN:SACH) Short Interest Down 29.3% in September

Sachem Capital Corp. (NYSEAMERICAN:SACH) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 1,180,000 shares, a decline of 29.3% from the September 15th total of 1,670,000 shares. Based on an average daily trading volume, of 308,300 shares, the days-to-cover ratio is presently 3.8 days.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer cut their target price on Sachem Capital from $4.50 to $4.00 and set an “outperform” rating on the stock in a report on Monday, August 19th.

Institutional Trading of Sachem Capital

Several institutional investors and hedge funds have recently modified their holdings of the stock. J.W. Cole Advisors Inc. purchased a new stake in shares of Sachem Capital during the second quarter valued at approximately $28,000. Renaissance Technologies LLC bought a new position in Sachem Capital during the second quarter valued at $30,000. SG Americas Securities LLC bought a new position in Sachem Capital during the first quarter valued at $55,000. Vanguard Group Inc. grew its holdings in Sachem Capital by 0.6% during the first quarter. Vanguard Group Inc. now owns 2,283,214 shares of the company’s stock valued at $10,183,000 after purchasing an additional 14,153 shares during the period. Finally, TIAA Trust National Association grew its holdings in Sachem Capital by 43.9% during the first quarter. TIAA Trust National Association now owns 47,500 shares of the company’s stock valued at $212,000 after purchasing an additional 14,500 shares during the period. 18.07% of the stock is owned by hedge funds and other institutional investors.

Sachem Capital Stock Performance

Shares of SACH stock traded up $0.05 during mid-day trading on Friday, hitting $2.48. The company’s stock had a trading volume of 193,519 shares, compared to its average volume of 326,634. The stock’s fifty day simple moving average is $3.51. Sachem Capital has a 52 week low of $2.22 and a 52 week high of $4.64. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.10. The company has a market cap of $117.63 million, a P/E ratio of 41.76, a PEG ratio of 0.31 and a beta of 1.73.

Sachem Capital (NYSEAMERICAN:SACH) last issued its earnings results on Wednesday, August 14th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.20). Sachem Capital had a net margin of 8.56% and a return on equity of 2.45%. The firm had revenue of $15.15 million during the quarter, compared to the consensus estimate of $16.14 million. On average, equities analysts anticipate that Sachem Capital will post 0.17 earnings per share for the current year.

Sachem Capital Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Monday, July 29th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 12.90%. The ex-dividend date was Monday, July 29th. Sachem Capital’s dividend payout ratio (DPR) is currently 533.42%.

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.