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

Sachem Capital Corp. (NYSEAMERICAN:SACH) shares 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 traded.

Sachem Capital Price Performance

The company’s fifty day moving average price is $1.03 and its 200 day moving average price is $1.04. The company 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 announced its earnings results on Thursday, March 12th. The company reported $0.03 EPS for the quarter. Sachem Capital had a net margin of 14.05% and a return on equity of 3.56%. The company had revenue of $9.98 million for the quarter, compared to analysts’ expectations of $12.18 million.

Sachem Capital Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SACH. Susquehanna International Group LLP increased its stake 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 acquiring an additional 14,619 shares during the last quarter. Renaissance Technologies LLC increased its stake in Sachem Capital by 91.1% in the fourth quarter. Renaissance Technologies LLC now owns 45,862 shares of the company’s stock valued at $48,000 after acquiring an additional 21,862 shares during the last quarter. Jane Street Group LLC increased its stake 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 acquiring an additional 31,260 shares during the last quarter. Virtu Financial LLC bought a new position in Sachem Capital in the third quarter valued at approximately $37,000. Finally, Napier Financial LLC bought a new position in Sachem Capital in the fourth quarter valued at approximately $38,000. 18.07% of the stock is owned by 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.