Sachem Capital (NYSEAMERICAN:SACH) Announces Quarterly Earnings Results

Sachem Capital (NYSEAMERICAN:SACH) announced its earnings results on Wednesday. The company reported ($0.14) EPS for the quarter, FiscalAI reports. Sachem Capital had a negative return on equity of 4.61% and a negative net margin of 18.74%.The firm had revenue of $3.03 million during the quarter, compared to the consensus estimate of $11.19 million.

Sachem Capital Price Performance

Shares of Sachem Capital stock traded down $0.01 on Friday, hitting $0.82. 22,526 shares of the company were exchanged, compared to its average volume of 278,455. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. Sachem Capital has a 1-year low of $0.77 and a 1-year high of $1.45. The company has a 50-day moving average price of $0.93 and a 200 day moving average price of $1.01. The stock has a market capitalization of $39.52 million, a price-to-earnings ratio of -3.17 and a beta of 1.16.

Sachem Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, June 15th. Sachem Capital’s dividend payout ratio (DPR) is currently -21.05%.

Hedge Funds Weigh In On Sachem Capital

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Sachem Capital by 1.7% during the third quarter. Vanguard Group Inc. now owns 2,349,235 shares of the company’s stock worth $2,608,000 after buying an additional 40,159 shares during the period. Susquehanna International Group LLP raised its position in Sachem Capital by 12.3% in the third quarter. Susquehanna International Group LLP now owns 133,614 shares of the company’s stock valued at $148,000 after purchasing an additional 14,619 shares during the period. Jane Street Group LLC raised its position in Sachem Capital by 193.8% in the first quarter. Jane Street Group LLC now owns 47,393 shares of the company’s stock valued at $55,000 after purchasing an additional 31,260 shares during the period. Renaissance Technologies LLC lifted its stake in Sachem Capital by 91.1% during the fourth quarter. Renaissance Technologies LLC now owns 45,862 shares of the company’s stock worth $48,000 after purchasing an additional 21,862 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Sachem Capital during the third quarter worth $37,000. 18.07% of the stock is currently owned by hedge funds and other institutional investors.

About Sachem Capital

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.