Shares of Sachem Capital Corp. (NYSE American:SACH) traded today at $4.92, eclipsing its 52-week high. This new high was reached on below average trading volume as 52,000 shares traded hands, while the average 30-day volume is approximately 163,000 shares.
Sachem Capital Corp is a real estate finance company that specializes in originating, underwriting, funding, servicing and managing a portfolio of short-term loans secured by first mortgage liens on real property located in Connecticut. The objective of the company is to grow the loan portfolio while protecting and preserving capital in a manner that provides for attractive risk-adjusted returns to shareholders over the long-term through dividends.
Over the past year, Sachem Capital Corp. has traded in a range of $1.20 to $4.92 and is now at $4.89, 308% above that low.
Sachem Capital Corp. (NYSE American:SACH) is currently priced 4.9% above its average consensus analyst price target of $4.65.
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