SACH stock touches 52-week low at $1.01 amid sharp yearly decline

In a challenging market environment, Sachem Capital Corp ’s stock (NYSE:SACH) has recorded a new 52-week low, dipping to $1.01. According to InvestingPro analysis, the stock appears undervalued, trading at just 0.22 times book value while offering an impressive 19.61% dividend yield. This latest price level reflects a significant downturn for the company, which has seen its stock value plummet by 68.05% over the past year. Investors have been closely monitoring SACH as it struggles to regain momentum amidst broader economic pressures that continue to test the resilience of the real estate finance sector. Despite these challenges, the company maintains strong liquidity with a current ratio of 6.42, indicating its ability to meet short-term obligations. The 52-week low serves as a stark indicator of the hurdles Sachem Capital Corp faces as it works to stabilize and improve its financial performance in the coming quarters. Discover more insights about SACH and 1,400+ other stocks with comprehensive Pro Research Reports on InvestingPro.

In other recent news, Sachem Capital Corp. reported a decrease in revenue to $14.8 million, down from $17.8 million in the same period last year, and posted a net loss of $6.1 million. The real estate investment trust also announced that its 6.875% unsecured, unsubordinated Notes will reach maturity on December 30, 2024, and will be redeemed at par value. Additionally, the company declared a quarterly dividend payment for its 7.75% Series A Cumulative Redeemable Preferred Stock, amounting to $0.484375 per share.

Sachem Capital has also made changes in its independent registered public accounting firm, terminating its relationship with Hoberman & Lesser CPA’s, LLP, and appointing Baker Tilly US, LLP as its new auditor. This decision was approved by the Audit Committee of the company’s Board of Directors.

These are among the recent developments at Sachem Capital. The company continues to focus on its core business of loan origination and real estate investment, separate from its lending activities. It is noteworthy that these facts are based on recent press release statements and filings with the U.S. Securities and Exchange Commission.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.