Melia Wealth LLC Reduces Stock Position in Sachem Capital Corp. (NYSEAMERICAN:SACH)

Melia Wealth LLC lessened its stake in Sachem Capital Corp. (NYSEAMERICAN:SACH) by 4.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,255,994 shares of the company’s stock after selling 158,190 shares during the quarter. Sachem Capital accounts for about 1.9% of Melia Wealth LLC’s portfolio, making the stock its 13th largest holding. Melia Wealth LLC owned about 6.93% of Sachem Capital worth $3,777,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Ancora Advisors LLC purchased a new position in shares of Sachem Capital in the fourth quarter valued at approximately $315,000. Vident Advisory LLC purchased a new position in shares of Sachem Capital in the fourth quarter valued at approximately $119,000. Renaissance Technologies LLC lifted its position in shares of Sachem Capital by 113.9% in the fourth quarter. Renaissance Technologies LLC now owns 136,706 shares of the company’s stock valued at $185,000 after acquiring an additional 72,806 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Sachem Capital by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 551,476 shares of the company’s stock valued at $745,000 after acquiring an additional 34,558 shares in the last quarter. Finally, StoneX Group Inc. purchased a new position in shares of Sachem Capital in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 18.07% of the company’s stock.

Sachem Capital Stock Down 1.6%

Shares of NYSEAMERICAN SACH opened at $1.23 on Monday. The company has a market capitalization of $58.19 million, a price-to-earnings ratio of -1.22, a price-to-earnings-growth ratio of 0.65 and a beta of 1.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.73 and a quick ratio of 1.73. The business has a 50-day moving average of $1.12 and a two-hundred day moving average of $1.13. Sachem Capital Corp. has a 1 year low of $0.80 and a 1 year high of $2.75.

Sachem Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 16.26%. The ex-dividend date was Monday, June 16th. Sachem Capital’s dividend payout ratio (DPR) is -105.26%.

Analyst Ratings Changes

Several equities research analysts recently commented on SACH shares. LADENBURG THALM/SH SH reaffirmed a “neutral” rating on shares of Sachem Capital in a report on Thursday, April 3rd. Citigroup reaffirmed a “market perform” rating on shares of Sachem Capital in a report on Wednesday, July 9th. Finally, JMP Securities reissued a “market perform” rating on shares of Sachem Capital in a research note on Wednesday, July 9th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $1.92.

Sachem Capital 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.