Sachem Capital Corp. Announces Quarterly Dividend of $0.05 (NYSEAMERICAN:SACH)

Sachem Capital Corp. (NYSEAMERICAN:SACH) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Shareholders of record on Monday, November 18th will be paid a dividend of 0.05 per share on Tuesday, November 26th. This represents a $0.20 annualized dividend and a yield of 9.73%. The ex-dividend date is Monday, November 18th.

Sachem Capital has a payout ratio of 118.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Sachem Capital to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 72.7%.

Sachem Capital Price Performance

Sachem Capital stock traded up $0.01 during midday trading on Friday, hitting $2.06. The company’s stock had a trading volume of 946,352 shares, compared to its average volume of 326,419. Sachem Capital has a 1-year low of $1.94 and a 1-year high of $4.64. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.78 and a current ratio of 1.78. The company has a 50-day simple moving average of $3.44. The company has a market capitalization of $97.47 million, a P/E ratio of 37.67, a price-to-earnings-growth ratio of 0.28 and a beta of 1.73.

Sachem Capital (NYSEAMERICAN:SACH) last released its earnings results on Wednesday, August 14th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.20). Sachem Capital had a net margin of 8.56% and a return on equity of 2.45%. The firm had revenue of $15.15 million during the quarter, compared to the consensus estimate of $16.14 million. Sell-side analysts forecast that Sachem Capital will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Oppenheimer decreased their target price on shares of Sachem Capital from $4.50 to $4.00 and set an “outperform” rating on the stock in a report on Monday, August 19th.

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.