Sachem Capital Corp (NYSEAMERICAN:SACH) announced a dividend on Friday, October 16th, Fidelity reports. Stockholders of record on Monday, October 26th will be given a dividend of 0.12 per share on Wednesday, November 4th. The ex-dividend date of this dividend is Friday, October 23rd.
Sachem Capital has a dividend payout ratio of 137.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
SACH stock opened at $4.28 on Friday. Sachem Capital has a one year low of $1.20 and a one year high of $4.78.
Sachem Capital (NYSEAMERICAN:SACH) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.05.
SACH has been the subject of several recent research reports. LADENBURG THALM/SH SH upgraded shares of Sachem Capital from a “neutral” rating to a “buy” rating in a report on Monday, August 10th. Aegis reaffirmed a “buy” rating and set a $4.00 price target on shares of Sachem Capital in a research report on Tuesday, June 23rd. Finally, Zacks Investment Research raised shares of Sachem Capital from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research report on Tuesday, October 6th.
About Sachem Capital
Sachem Capital Corp. operates as a real estate finance company. The company engages in 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, development, rehabilitation, or improvement of properties located in Connecticut, Massachusetts, Florida, New York, Vermont, and Rhode Island.
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