Sachem Capital (SACH) Declares $0.11 Dividend
Sachem Capital said on October 23, 2023 that its board of directors declared a regular quarterly dividend of $0.11 per share ($0.44 annualized). Previously, the company paid $0.13 per share.
Shareholders of record as of October 31, 2023 will receive the payment on November 7, 2023.
At the current share price of $3.31 / share, the stock's dividend yield is 13.29%.
Looking back five years and taking a sample every week, the average dividend yield has been 13.12%, the lowest has been 7.67%, and the highest has been 29.81%. The standard deviation of yields is 3.39 (n=235).
The current dividend yield is 0.05 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.06. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 0.08%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 73 funds or institutions reporting positions in Sachem Capital. This is a decrease of 14 owner(s) or 16.09% in the last quarter. Average portfolio weight of all funds dedicated to SACH is 0.05%, a decrease of 11.55%. Total shares owned by institutions decreased in the last three months by 13.67% to 5,514K shares. 
The put/call ratio of SACH is 1.11, indicating a bearish outlook.
Analyst Price Forecast Suggests 34.82% Upside
As of October 5, 2023, the average one-year price target for Sachem Capital is 4.46. The forecasts range from a low of 3.79 to a high of $5.25. The average price target represents an increase of 34.82% from its latest reported closing price of 3.31.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Sachem Capital is 62MM, an increase of 80.89%. The projected annual non-GAAP EPS is 0.57.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,150K shares representing 2.54% ownership of the company. In it's prior filing, the firm reported owning 1,808K shares, representing a decrease of 57.27%. The firm decreased its portfolio allocation in SACH by 44.96% over the last quarter.
Bard Associates holds 640K shares representing 1.41% ownership of the company. In it's prior filing, the firm reported owning 644K shares, representing a decrease of 0.58%. The firm decreased its portfolio allocation in SACH by 12.40% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 542K shares representing 1.20% ownership of the company. In it's prior filing, the firm reported owning 472K shares, representing an increase of 12.93%. The firm increased its portfolio allocation in SACH by 2.78% over the last quarter.
Geode Capital Management holds 369K shares representing 0.81% ownership of the company. In it's prior filing, the firm reported owning 365K shares, representing an increase of 1.18%. The firm decreased its portfolio allocation in SACH by 14.09% over the last quarter.
Us Financial Advisors holds 318K shares representing 0.70% ownership of the company. In it's prior filing, the firm reported owning 227K shares, representing an increase of 28.58%. The firm increased its portfolio allocation in SACH by 25.19% over the last quarter.
Sachem Capital Background Information
(This description is provided by the company.)
Sachem Capital Corp. specializes in originating, underwriting, funding, servicing, and managing a portfolio of first mortgage loans. It offers short term (i.e., three years or less) secured, nonbanking loans (sometimes referred to as 'hard money' loans) to real estate investors to fund their acquisition, renovation, development, rehabilitation or improvement of properties located primarily in Connecticut. The company does not lend to owner occupants. The company's primary underwriting criteria is a conservative loan to value ratio. The properties securing the company's loans are generally classified as residential or commercial real estate and, typically, are held for resale or investment. Each loan is secured by a first mortgage lien on real estate. Each loan is also personally guaranteed by the principal(s) of the borrower, which guaranty may be collaterally secured by a pledge of the guarantor's interest in the borrower. The company also makes opportunistic real estate purchases apart from its lending activities. The company believes that it qualifies as a real estate investment trust (REIT) for federal income tax purposes and has elected to be taxed as a REIT beginning with its 2017 tax year.
Additional reading:
- SACHEM CAPITAL CORP. ANNOUNCES DIVIDEND OF $0.11 PER SHARE
- SACHEM CAPITAL CORP. CONSOLIDATED BALANCE SHEETS
- Sachem Capital Corp.
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