Sachem Capital (NYSEAMERICAN:SACH) Stock Passes Below 50 Day Moving Average – Here’s What Happened

Sachem Capital Corp. (NYSEAMERICAN:SACH)’s stock price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $1.03 and traded as low as $1.02. Sachem Capital shares last traded at $1.02, with a volume of 111,105 shares trading hands.

Sachem Capital Price Performance

The business’s 50 day moving average is $1.03 and its 200-day moving average is $1.04. The firm has a market capitalization of $48.93 million, a P/E ratio of 20.40 and a beta of 1.13. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.01.

Sachem Capital (NYSEAMERICAN:SACH) last posted its earnings results on Thursday, March 12th. The company reported $0.03 earnings per share for the quarter. The firm had revenue of $9.98 million for the quarter, compared to analysts’ expectations of $12.18 million. Sachem Capital had a net margin of 14.05% and a return on equity of 3.56%.

Sachem Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Sunday, March 15th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 19.6%. The ex-dividend date of this dividend was Friday, March 13th. Sachem Capital’s payout ratio is presently -105.26%.

Institutional Trading of Sachem Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in shares of Sachem Capital during the third quarter worth $37,000. Napier Financial LLC bought a new stake in shares of Sachem Capital during the fourth quarter worth $38,000. Renaissance Technologies LLC grew its stake in shares of 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 buying an additional 21,862 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Sachem Capital by 193.8% during the first quarter. Jane Street Group LLC now owns 47,393 shares of the company’s stock worth $55,000 after buying an additional 31,260 shares during the last quarter. Finally, Susquehanna International Group LLP grew its stake in shares of Sachem Capital by 12.3% during the third quarter. Susquehanna International Group LLP now owns 133,614 shares of the company’s stock worth $148,000 after buying an additional 14,619 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.