Sachem Capital Corp. (SACH) to Issue Quarterly Dividend of $0.05 on December 30th

Sachem Capital Corp. (NYSEAMERICAN:SACH) announced a quarterly dividend on Thursday, December 4th. Shareholders of record on Monday, December 15th will be paid a dividend of 0.05 per share on Tuesday, December 30th. This represents a c) dividend on an annualized basis and a dividend yield of 18.3%. The ex-dividend date is Monday, December 15th.

Sachem Capital has a dividend payout ratio of 222.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Sachem Capital to earn $0.26 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 76.9%.

Sachem Capital Stock Performance

Shares of NYSEAMERICAN SACH opened at $1.09 on Friday. The business’s 50-day simple moving average is $1.07 and its 200-day simple moving average is $1.12. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.54 and a current ratio of 1.54. Sachem Capital has a 52 week low of $0.80 and a 52 week high of $1.48. The firm has a market cap of $51.98 million, a price-to-earnings ratio of -1.42 and a beta of 1.22.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Oppenheimer reduced their price objective on shares of Sachem Capital from $2.50 to $2.00 and set an “outperform” rating for the company in a research note on Friday, September 19th. Capital One Financial set a $1.20 target price on shares of Sachem Capital in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Sachem Capital presently has a consensus rating of “Hold” and a consensus price target of $1.48.

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.