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

Sachem Capital Corp. (NYSEAMERICAN:SACH) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors 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 dividend yield of 9.73%. The ex-dividend date of this dividend is Monday, November 18th.

Sachem Capital has a payout ratio of 118.5% indicating that 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 Stock Up 0.2 %

Shares of Sachem Capital stock opened at $2.06 on Friday. The stock has a fifty day moving average price of $3.44. Sachem Capital has a 12-month low of $1.94 and a 12-month high of $4.64. The company has a market cap of $97.47 million, a price-to-earnings ratio of 34.26, a PEG ratio of 0.28 and a beta of 1.73. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.78 and a current ratio of 1.78.

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

Analyst Upgrades and Downgrades

Separately, Oppenheimer dropped their price target on Sachem Capital from $4.50 to $4.00 and set an “outperform” rating for the company in a research note on Monday, August 19th.

Sachem Capital Company 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.