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. reports developments as a mortgage REIT focused on short-term, secured nonbanking loans to real estate investors. The company originates, underwrites, funds, services, and manages loans secured by first mortgage liens on residential and commercial real estate, with uses that include acquisition, renovation, development, rehabilitation, and improvement of properties. Its updates also address opportunistic real estate purchases outside its lending portfolio.
Recurring news for SACH includes quarterly and annual earnings releases, loan portfolio and credit-profile commentary, capital structure and liquidity updates, common and preferred stock dividends, REIT distribution tax reporting, and financing arrangements tied to its real estate lending platform.
Sachem Capital Corp. (NYSE American: SACH) has completed a public offering of $45 million in 6.0% unsecured notes due 2026, with estimated net proceeds of approximately $43.3 million. An over-allotment option of $6.75 million is available until January 13, 2022. The notes will trade under the symbol 'SCCD' starting December 22, 2021, and are expected to fund new real estate loans primarily secured by first mortgage liens. These notes have a BBB+ rating from Egan-Jones Ratings Company.
Sachem Capital Corp. (NYSE American: SACH) has announced a public offering of $45 million in 6.0% unsecured notes due 2026. The net proceeds are estimated at approximately $43.3 million. The offering is expected to close on December 20, 2021, with an option for underwriters to purchase an additional $6.75 million in notes. The notes will have a BBB+ rating from Egan-Jones and will mature on December 30, 2026, with interest payable quarterly starting March 30, 2022. The company specializes in first mortgage loans for real estate investors in Connecticut.
Sachem Capital Corp. (NYSE American: SACH) has announced a public offering of unsecured, unsubordinated notes due in five years. The Notes will rank pari passu with the company's existing unsecured debts and are expected to be listed under the symbol 'SCCD'. The offering will be priced with an interest rate determined at that time. The securities carry a private rating of BBB+ from Egan-Jones Ratings. The offering is being managed by a group of financial institutions including Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC.
Sachem Capital Corp. (NYSE American: SACH) announced that Bill Haydon, Chief Investment Officer, will participate in the Benzinga All Access event on December 16, 2021, at 9:40 A.M. Eastern Time. The interview, hosted by Spencer Israel of Benzinga TV, will be broadcast live. Viewers can access the event here. An archived recording will later be available on Sachem's investor relations site.
Sachem Capital Corp. (NYSE American: SACH) has reconvened its 2021 Annual Meeting of Shareholders to discuss Proposal 2, now rescheduled for November 24, 2021, at 10:00 a.m. EST. This proposal seeks to amend the company’s certificate to increase authorized capital shares, requiring over 50% shareholder approval. The meeting was adjourned to provide more time for shareholders who have not yet voted, with the voting deadline set for 11:59 PM EST on November 23, 2021. Additionally, the amendment for preferred shares has been modified from 10 million to 7.5 million shares.
Sachem Capital Corp. (SACH) reported a remarkable 100% revenue growth in Q3 2021, totaling approximately $8.5 million, compared to $4.3 million in Q3 2020. The net income for the third quarter was $3.4 million, or $0.12 per share. For the nine months ended September 30, 2021, total revenue was approximately $20.9 million, a 62.5% increase year-over-year. The company is bolstered by a strong loan pipeline, a healthy balance sheet, and plans for further geographic expansion. A conference call is scheduled for November 5, 2021, to discuss these results.
Sachem Capital Corp. (NYSE American: SACH) announced that Bill Haydon, Chief Investment Officer, will present at the Dawson James Securities Small Cap Growth Conference on October 21, 2021, at 9:20 AM ET. The conference will be held at the Wyndham Grand Hotel in Jupiter, Florida. Mr. Haydon will also conduct one-on-one meetings with qualified investors during the event. Interested parties can access the live webcast and archived recordings through Sachem's investor relations page.
Sachem Capital Corp. (SACH) has declared a quarterly dividend of $0.12 per share, payable on October 29, 2021, to shareholders on record by the close of trading on October 25, 2021. CEO John Villano highlighted the company's ongoing growth and stability within its loan portfolio, emphasizing a strategic diversification into larger loans and geographic expansion. The company continues to experience strong market demand for its loan products and robust cash flow, fostering a positive outlook for the remainder of 2021.
Sachem Capital Corp. (SACH) announced the adjournment of its Annual Meeting of Shareholders, originally held on October 13, 2021, concerning Proposal 2 to increase authorized capital. The meeting will resume virtually on November 3, 2021, at 10:00 a.m. EDT. The company seeks to secure shareholder approval for Proposal 2, requiring more than 50% of outstanding shares. Shareholders are encouraged to vote by November 2, 2021, at 11:59 PM EDT. Proposals 1, 3, and 4 regarding directors, auditor appointments, and executive compensation received approval during the initial meeting.
Sachem Capital Corp. (NYSE American: SACH) will present at the Fall Harvest - Best Ideas from the Buy-Side conference from October 5-8, 2021. The company's Chief Investment Officer, Bill Haydon, is set to speak on October 5 at 5:00 PM ET. Attendees can view the presentation live online and schedule one-on-one meetings with management during the event. This conference features top investment ideas from qualified institutional investors, highlighting Sachem's strength in short-term, secured loans for real estate investors.