Sachem Capital: Discount To Book Value Looks To Fed For Boost [Seeking Alpha]
Sachem Capital Corp. Common Shares (SACH)
NASDAQ:AMEX Investor Relations:
sachemcapitalcorp.com
Company Research
Source: Seeking Alpha
Follow Summary Sachem Capital reduced its quarterly dividend by 27.3% following a continued dip in revenue and the size of its asset base. The mREIT is trading at a 36% discount to book value per share at the end of the second quarter. Fed rate cuts should deliver a boost to a valuation multiple that has collapsed to lows. BirdImages/E+ via Getty Images Sachem Capital ( NYSE: SACH ) last declared a quarterly cash dividend of $0.08 per share , a 27.3% dip from its prior quarter and $0.32 per share annualized for a 13.28% dividend yield. The dividend cut was coming, flagged in my last article on the mortgage REIT. SACH has now shed 30% of its value over the last 1-year, led by a sustained dip in book value which stood at roughly $3.76 per share at the end of the fiscal 2024 second quarter. Critically, there might be more dividend cuts in the pipeline. SACH generated a second-quarter negative GAAP EPS of $0.09 , a material underperformance versus consensus of around 8 cents
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SACH
News
- Sachem Capital Reports Third Quarter 2024 Results – Reports Quarterly Revenues of $14.8 Million [Yahoo! Finance]Yahoo! Finance
- Sachem Capital Reports Third Quarter 2024 Results – Reports Quarterly Revenues of $14.8 MillionGlobeNewswire
- HIVE Digital Technologies (HIVE) Reports Q2 Loss, Misses Revenue Estimates [Yahoo! Finance]Yahoo! Finance
- Sachem Capital Announces Third Quarter 2024 Dividend and Schedules Earnings Release and Conference CallGlobeNewswire
- Sachem Capital Corp. Completes 20% Investment in Shem Creek Capital LLC to Further Diversify Business ModelGlobeNewswire
SACH
Earnings
- 11/14/24 - Miss
SACH
Sec Filings
- 11/21/24 - Form 4
- 11/20/24 - Form 8-K
- 11/18/24 - Form 10-Q/A
- SACH's page on the SEC website