Sachem Capital Corp. Announces Quarterly Dividend of $0.12 (NYSEAMERICAN:SACH)

Sachem Capital Corp. (NYSEAMERICAN:SACH) announced a quarterly dividend on Friday, July 16th, reports. Shareholders of record on Monday, July 26th will be given a dividend of 0.12 per share on Friday, July 30th. This represents a $0.48 annualized dividend and a yield of 9.01%. The ex-dividend date is Friday, July 23rd.

Sachem Capital has increased its dividend by 84.6% over the last three years and has raised its dividend annually for the last 1 consecutive years. Sachem Capital has a dividend payout ratio of 109.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Sachem Capital to earn $0.50 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 96.0%.

Sachem Capital stock opened at $5.33 on Thursday. The company’s 50-day moving average price is $4.16. The stock has a market cap of $130.96 million, a P/E ratio of 12.14 and a beta of 1.35. Sachem Capital has a fifty-two week low of $3.03 and a fifty-two week high of $5.68.

Sachem Capital (NYSEAMERICAN:SACH) last issued its earnings results on Friday, May 14th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Sachem Capital had a return on equity of 11.36% and a net margin of 44.69%. As a group, research analysts predict that Sachem Capital will post 0.44 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Sachem Capital from a “buy” rating to a “hold” rating in a report on Friday, July 2nd. Aegis upped their price target on Sachem Capital from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, April 1st. Finally, Janney Montgomery Scott assumed coverage on Sachem Capital in a report on Thursday, June 17th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $7.00.

About Sachem Capital

Sachem Capital Corp. operates as a real estate finance company. The company is involved in the originating, underwriting, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real property located primarily in Connecticut. It offers loans to real estate investors to fund their acquisition, renovation, rehabilitation, development, and/or improvement of residential or commercial properties.

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Dividend History for Sachem Capital (NYSEAMERICAN:SACH)

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