Sachem Capital (NYSEAMERICAN:SACH) Share Price Crosses Below 50 Day Moving Average – What’s Next?

Sachem Capital Corp. (NYSEAMERICAN:SACH) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $1.15 and traded as low as $1.05. Sachem Capital shares last traded at $1.11, with a volume of 424,112 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SACH shares. Oppenheimer reiterated an “outperform” rating and set a $2.50 price target (down previously from $4.00) on shares of Sachem Capital in a research note on Friday, December 6th. Industrial Alliance Securities set a $1.25 target price on Sachem Capital in a research report on Friday. Finally, Alliance Global Partners reissued a “neutral” rating on shares of Sachem Capital in a research report on Friday.

Sachem Capital Price Performance

The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average price of $1.15. The firm has a market cap of $52.14 million, a price-to-earnings ratio of -5.84, a P/E/G ratio of 0.09 and a beta of 1.65.

Sachem Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 18.02%. The ex-dividend date is Monday, March 17th. Sachem Capital’s dividend payout ratio is currently -105.26%.

Institutional Investors Weigh In On Sachem Capital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cox Capital Mgt LLC acquired a new position in Sachem Capital during the 4th quarter valued at $812,000. Ancora Advisors LLC acquired a new position in shares of Sachem Capital during the fourth quarter valued at about $315,000. EP Wealth Advisors LLC bought a new stake in shares of Sachem Capital in the third quarter valued at about $233,000. Vident Advisory LLC bought a new stake in shares of Sachem Capital in the fourth quarter valued at about $119,000. Finally, Melia Wealth LLC increased its stake in Sachem Capital by 2.5% during the fourth quarter. Melia Wealth LLC now owns 3,414,184 shares of the company’s stock valued at $4,609,000 after acquiring an additional 83,886 shares during the period. Institutional investors and hedge funds own 18.07% of the company’s stock.

About Sachem Capital

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.