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Sachem Capital Corp. - SACH STOCK NEWS

Welcome to our dedicated page for Sachem Capital news (Ticker: SACH), a resource for investors and traders seeking the latest updates and insights on Sachem Capital stock.

Sachem Capital Corp. (SACH) is a United States-based real estate investment trust (REIT). The company has been financing opportunistic real estate transactions in the New England area since 2010. Specializing in originating, underwriting, funding, servicing, and managing a portfolio of short-term loans, Sachem provides quick, short-term bridge capital for real estate investors, builders, or developers who need immediate funding or solutions to immediate problems.

Sachem Capital's primary objective is to grow its loan portfolio while protecting and preserving capital. The company focuses on offering creative real estate financing solutions developed exclusively for those seeking alternatives to conventional bank loans. Their hands-on managers have extensive experience in real estate acquisitions, investments, management, and development, allowing them to quickly assess complex opportunities and deliver efficient and opportunistic closing products to borrowers while ensuring profitability for shareholders.

The executive team boasts extensive experience in real estate, and this expertise enables the company to address the constant volatility and instability in today's financial markets. Since being listed on the NYSE on February 10, 2017, Sachem Capital has continued to thrive, providing attractive risk-adjusted returns to shareholders over the long term through dividends.

The majority of the company's revenue is generated from interest income from loans secured by first mortgage liens on real property located in Connecticut. These properties, typically residential or commercial, are often held for resale or investment. Each loan is secured by a first mortgage lien on real estate and is personally guaranteed by the principal(s) of the borrower. Apart from lending activities, Sachem Capital also engages in opportunistic real estate purchases.

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Sachem Capital Corp (NYSE American: SACH) has declared a quarterly dividend of $0.08 per share. The dividend will be paid to shareholders of record as of the close of trading on the NYSE American on July 29, 2024. The payment date for this dividend is set for August 6, 2024. This announcement demonstrates Sachem Capital's commitment to providing regular returns to its shareholders, maintaining its dividend distribution policy.

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Sachem Capital Corp. (NYSE American: SACH) announced the withdrawal of its planned debt offering, initially intended to be USD-denominated unsecured, unsubordinated notes due in five years.

The decision was made due to unfavorable market conditions regarding pricing, which the company deemed excessive and restrictive. CEO John Villano assured shareholders and noteholders that Sachem Capital has sufficient liquidity through its existing credit facilities and liquid mortgage portfolio. The company remains committed to its disciplined underwriting and loan origination processes to maximize risk-adjusted returns and protect capital. This move aims to safeguard the long-term interests of Sachem's business and its shareholders.

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Sachem Capital Corp. (NYSE American: SACH) has announced its intention to delist its 7.125% unsecured, unsubordinated Notes (ticker symbol: SCCB) from the NYSE American and deregister them under the Exchange Act of 1934. These Notes, due June 30, 2024, will be redeemed at par value plus accrued and unpaid interest up to the maturity date. The final trading day for the Notes will be June 28, 2024, and the final payment will be made on July 1, 2024, due to the maturity date falling on a non-trading day. Noteholders will be directly notified about the redemption process, and no further action is required on their part. Sachem Capital does not plan to list the Notes on another national securities exchange or quotation medium.

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Sachem Capital Corp. (NYSE American: SACH) announced a registered public offering of USD-denominated unsecured, unsubordinated Notes, due five years from issuance. The Notes are expected to be rated BBB+ by Egan-Jones Ratings Company, subject to market conditions. Egan-Jones is an independent rating agency recognized by the NAIC and ESMA. Oppenheimer & Co. Inc. will manage the offering as the sole-bookrunning manager. The SEC has declared the registration statement effective for this offering, which will be made only through a related prospectus supplement and accompanying base prospectus. Investors are advised to read these documents carefully before investing.

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Sachem Capital Corp. (NYSE American: SACH) has appointed Nicholas M. Marcello as Interim Chief Financial Officer, effective immediately. John Villano, CPA, will continue as CEO. Marcello, previously Vice President of Finance & Operations at Sachem, will oversee financial and capital markets activities, portfolio management, investments, foreclosures, workouts, legal, and HR. Marcello has extensive experience, having worked at Waypoint Real Estate Investments and PricewaterhouseCoopers LLP. He holds degrees from Providence College and Northeastern University. CEO John Villano expressed confidence in Marcello's financial expertise and value to the company.

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Sachem Capital Corp. reported its first-quarter results for 2024, showcasing a 17.0% revenue growth to $17.2 million. The company highlighted a focus on maintaining strong liquidity, growing borrower relationships, and protecting capital amidst economic uncertainties. Total revenue, interest income, and other income sources increased, while operating costs saw a rise primarily due to a provision for credit losses. Net income for common shareholders decreased to $3.6 million, or $0.08 per share, compared to the same period in 2023. The balance sheet remained stable, with total assets and liabilities showing consistency. Sachem Capital's strategic approach to debt repayment and shareholder equity growth was evident in the financial results.

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Sachem Capital Corp. (NYSE American: SACH) announced the first quarter 2024 financial results release on May 10, 2024, followed by a conference call at 8:00 a.m. Eastern Time. The webcast will be available on their website, and participants can dial in to join the call.

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Sachem Capital Corp. (SACH) reported a 25.5% increase in total revenue for the year ended December 31, 2023, reaching $65.6 million. Despite revenue growth, net income attributable to common shareholders declined by 29.4% and earnings per share by 40.1% due to challenges in the macroeconomic environment, including rising interest rates and weak commercial real estate values. The company's focus remains on controlling what it can to protect capital and enhance shareholder value.
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Sachem Capital Corp. (SACH) declares a quarterly dividend of $0.11 per share for shareholders of record on April 9, 2024, payable on April 16, 2024.
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Sachem Capital Corp. (SACH) is set to release its 2023 financial results on April 1, 2024, followed by a webcast and conference call to discuss the results. Investors can access the webcast on the company's website and participate in the conference call by dialing in. The playback of the conference call will be available until April 15, 2024.
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FAQ

What is Sachem Capital Corp.?

Sachem Capital Corp. is a real estate investment trust specializing in providing short-term bridge capital for real estate investors, builders, and developers.

When was Sachem Capital Corp. listed on the NYSE?

Sachem Capital Corp. was listed on the NYSE on February 10, 2017.

What types of properties secure Sachem Capital's loans?

The loans are typically secured by residential or commercial real estate properties intended for resale or investment.

What is Sachem Capital's primary revenue source?

Sachem Capital earns the majority of its revenue from interest income on loans secured by first mortgage liens on real property.

Who guarantees the loans provided by Sachem Capital?

The loans are personally guaranteed by the principal(s) of the borrower.

What is Sachem Capital's primary underwriting criteria?

The primary underwriting criteria is a conservative loan to value ratio.

In which geographic area does Sachem Capital primarily operate?

Sachem Capital primarily operates in the New England area.

What is the company's approach to real estate financing?

Sachem Capital provides creative real estate financing solutions as alternatives to conventional bank loans.

Does Sachem Capital engage in activities other than lending?

Yes, apart from lending, Sachem Capital also makes opportunistic real estate purchases.

How does Sachem Capital ensure profitability for shareholders?

Sachem Capital ensures profitability by delivering efficient and opportunistic closing products and providing attractive risk-adjusted returns through dividends.

Sachem Capital Corp.

NYSE:SACH

SACH Rankings

SACH Stock Data

124.78M
47.45M
4.52%
24.69%
2.13%
Savings Institutions
Finance and Insurance
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United States of America
BRANFORD