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

Sachem Capital Corp. (NYSEAMERICAN:SACH) saw 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. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 2,140,875 shares, the days-to-cover ratio is currently 0.0 days.

Sachem Capital Price Performance

NYSEAMERICAN:SACH traded down $0.01 on Tuesday, hitting $0.99. The company had a trading volume of 137,144 shares, compared to its average volume of 320,518. The stock has a market capitalization of $47.24 million, a price-to-earnings ratio of -9.85 and a beta of 1.12. 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 firm has a 50 day moving average of $1.09 and a two-hundred day moving average of $1.06. Sachem Capital has a 52 week low of $0.90 and a 52 week high of $1.45.

Sachem Capital (NYSEAMERICAN:SACH) last issued its quarterly earnings data on Wednesday, May 20th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.17). The company had revenue of $5.10 million during the quarter, compared to the consensus estimate of $9.43 million. Sachem Capital had a negative net margin of 1.54% and a negative return on equity of 0.39%.

Sachem Capital Cuts Dividend

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

Hedge Funds Weigh In On Sachem Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in SACH. Susquehanna International Group LLP grew its holdings in Sachem Capital by 12.3% during the 3rd quarter. Susquehanna International Group LLP now owns 133,614 shares of the company’s stock worth $148,000 after acquiring an additional 14,619 shares during the last quarter. Vanguard Group Inc. grew its holdings in Sachem Capital by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,349,235 shares of the company’s stock worth $2,608,000 after acquiring an additional 40,159 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Sachem Capital by 227.3% during the 1st quarter. Renaissance Technologies LLC now owns 150,109 shares of the company’s stock worth $152,000 after acquiring an additional 104,247 shares during the last quarter. Virtu Financial LLC bought a new stake in Sachem Capital during the 3rd quarter worth approximately $37,000. Finally, Jane Street Group LLC grew its holdings in Sachem Capital by 193.8% during the 1st quarter. Jane Street Group LLC now owns 47,393 shares of the company’s stock worth $55,000 after acquiring an additional 31,260 shares during the last quarter. Institutional investors own 18.07% of the company’s stock.

Sachem Capital Company Profile

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.