Sachem Capital Corp (NYSEAMERICAN:SACH) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 21,900 shares, a decline of 12.7% from the December 15th total of 25,100 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 89,900 shares, the days-to-cover ratio is currently 0.2 days.
SACH stock opened at $4.51 on Wednesday. Sachem Capital has a 1-year low of $4.00 and a 1-year high of $5.70.
Sachem Capital (NYSEAMERICAN:SACH) last posted its earnings results on Thursday, November 14th. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $3.38 million for the quarter.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, January 17th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 10.64%.
Separately, LADENBURG THALM/SH SH started coverage on shares of Sachem Capital in a research report on Thursday, November 14th. They set a “neutral” rating for the company.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Sachem Capital by 741.6% during the 2nd quarter. BlackRock Inc. now owns 527,291 shares of the company’s stock valued at $2,799,000 after buying an additional 464,634 shares during the period. Vanguard Group Inc. boosted its position in Sachem Capital by 23.8% during the second quarter. Vanguard Group Inc. now owns 443,699 shares of the company’s stock valued at $2,356,000 after purchasing an additional 85,362 shares in the last quarter. Renaissance Technologies LLC boosted its position in Sachem Capital by 333.9% during the second quarter. Renaissance Technologies LLC now owns 218,200 shares of the company’s stock valued at $1,159,000 after purchasing an additional 167,916 shares in the last quarter. Cox Capital Mgt LLC boosted its position in Sachem Capital by 80.1% during the fourth quarter. Cox Capital Mgt LLC now owns 164,508 shares of the company’s stock valued at $714,000 after purchasing an additional 73,155 shares in the last quarter. Finally, PVG Asset Management Corp acquired a new stake in Sachem Capital in the third quarter worth about $189,000.
About Sachem Capital
Sachem Capital Corp. operates as a real estate finance company. The company engages in originating, underwriting, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real property located primarily in Connecticut. It offers loans to real estate investors to fund their acquisition, renovation, development, rehabilitation, or improvement of properties located in Connecticut, Massachusetts, Florida, New York, Vermont, and Rhode Island.
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