Melia Wealth LLC Makes New Investment in Sachem Capital Corp. $SACH

Melia Wealth LLC bought a new stake in shares of Sachem Capital Corp. (NYSEAMERICAN:SACH) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 2,806,935 shares of the company’s stock, valued at approximately $2,642,000. Sachem Capital comprises approximately 1.5% of Melia Wealth LLC’s portfolio, making the stock its 13th largest holding. Melia Wealth LLC owned approximately 5.85% of Sachem Capital at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SACH. BlackRock Inc. bought a new position in shares of Sachem Capital in the 2nd quarter worth $547,000. Renaissance Technologies LLC increased its holdings in Sachem Capital by 227.3% in the first quarter. Renaissance Technologies LLC now owns 150,109 shares of the company’s stock valued at $152,000 after purchasing an additional 104,247 shares during the last quarter. GatePass Capital LLC increased its holdings in Sachem Capital by 37.6% in the fourth quarter. GatePass Capital LLC now owns 199,500 shares of the company’s stock valued at $207,000 after purchasing an additional 54,500 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Sachem Capital in the second quarter valued at about $39,000. Finally, Vanguard Group Inc. lifted its stake in Sachem Capital by 1.7% in the third quarter. Vanguard Group Inc. now owns 2,349,235 shares of the company’s stock valued at $2,608,000 after buying an additional 40,159 shares during the period. Institutional investors and hedge funds own 18.07% of the company’s stock.

Sachem Capital Price Performance

Sachem Capital stock opened at $0.90 on Friday. The firm has a market capitalization of $43.16 million, a P/E ratio of -3.46 and a beta of 1.16. Sachem Capital Corp. has a 1 year low of $0.76 and a 1 year high of $1.45. The business has a 50-day moving average of $0.86 and a 200-day moving average of $0.99. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01.

Sachem Capital (NYSEAMERICAN:SACH) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.14) earnings per share for the quarter. Sachem Capital had a negative net margin of 18.74% and a negative return on equity of 4.70%. The firm had revenue of $3.03 million during the quarter, compared to analyst estimates of $11.19 million.

Sachem Capital Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. Sachem Capital’s dividend payout ratio is presently -21.05%.

Sachem Capital Company Profile

Sachem Capital Corp (NYSEAMERICAN:SACH) is an externally managed, non-diversified closed-end management investment trust that seeks to provide shareholders with current income and long-term capital appreciation. The trust is managed by Sachem Capital Management, L.P., an affiliate of Sachem Wealth Management, and its shares trade on the NYSE American exchange.

The trust’s investment strategy focuses on a diversified portfolio of senior secured debt obligations, including first and second lien loans, mezzanine loans, high-yield bonds and preferred equity.