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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.
BRANFORD, Conn., Sept. 08, 2021 - Sachem Capital Corp. (NYSE American: SACH) announces that Bill Haydon, its CIO, will present at the H.C. Wainwright 23rd Annual Global Investment Conference, held virtually from September 13-15, 2021. The presentation will be available on-demand starting September 13 at 7:00 AM ET. Additionally, management will engage in one-on-one meetings with investors during the conference. Sachem specializes in short-term, secured nonbanking loans for real estate investments and operates as a REIT for tax purposes since 2017.
Sachem Capital Corp. (NYSE American: SACH) reported strong second-quarter results for 2021, with a 56% increase in revenue to approximately $6.7 million, driven by higher interest income on its loan portfolio. The net income reached $2.5 million, and cash flow from operations exceeded $6.1 million. Total assets rose to $296.3 million, bolstered by liquidity from stock sales. Additionally, a new $200 million financing facility aims to enhance loan offerings. The company continues to see solid demand for its lending products.
Sachem Capital Corp. (SACH) announced a $200 million master repurchase financing facility with Churchill MRA Funding I LLC. This facility allows Sachem to sell mortgage loans, providing flexibility in managing its loan portfolio. The agreement aims to reduce capital costs and support the expansion of Sachem's lending business. Since its inception, Sachem has originated over 1,000 loans, growing its portfolio from $34 million in 2016 to $157 million by March 2021. The deal highlights Sachem's strong market position and commitment to conservative underwriting.
Sachem Capital Corp. (SACH) has declared a quarterly dividend of $0.12 per share, payable on July 30, 2021, to shareholders of record as of July 26, 2021. The announcement follows a strong first half of 2021 and a successful public offering that generated $45.4 million in net proceeds, enhancing the company’s flexibility and growth strategy. CEO John Villano indicates increased demand for their loan products, attributed to stability in their loan portfolio.
Sachem Capital Corp. (NYSE American: SACH) announced the filing of a Registration Statement for Sachem Acquisition Corp. (SAC), a special purpose acquisition company, with the SEC for an initial public offering (IPO) of up to 5,750,000 units at $10.00 each, totaling $50 million. SAC will focus on real estate sector acquisitions. Upon completion, Sachem Capital will hold a 19% stake in SAC. EF Hutton is the sole book-running manager for the offering, which includes a 45-day option to purchase an additional 750,000 units. The registration has not yet become effective.
Sachem Capital Corp. (NYSE American: SACH) has announced the partial exercise of an overallotment option for its public offering of 1,700,000 shares of 7.75% Series A Cumulative Redeemable Preferred Stock, closing on June 29, 2021. The additional purchase of 203,000 shares will generate approximately $4.9 million in net proceeds. The total net proceeds from the offering are expected to be $45.4 million, intended for working capital, primarily new real estate loans. The Series A Preferred Stock is rated 'BBB' and will begin trading on July 6, 2021.
Sachem Capital Corp. (NYSE American: SACH) has completed an underwritten public offering of 1,700,000 shares of its 7.75% Series A Cumulative Redeemable Preferred Stock, raising $42.5 million, with net proceeds anticipated to be around $40.5 million. The shares are priced at $25.00 each, and a 30-day underwriters' option for an additional 255,000 shares is available. The Series A Preferred Stock received a 'BBB' rating and is set to trade on NYSE American under symbol 'SACHPRA' starting July 6, 2021. Proceeds will primarily fund new real estate loans and potential acquisitions.
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Sachem Capital Corp. (SACH) has initiated an underwritten public offering of its Series A Cumulative Redeemable Preferred Stock. The specific terms, including the number of shares and dividend rate, will be determined through negotiations. The Series A Preferred Stock, rated 'BBB' by Egan-Jones Ratings, is expected to be listed on NYSE American within 30 days after issuance. A 30-day overallotment option will also be granted to underwriters. Investors are advised to review the preliminary prospectus for comprehensive details.
Sachem Capital Corp. (SACH) reported a strong financial performance for Q1 2021, with total revenue increasing by 32.5% to approximately $5.7 million, driven by a 56% surge in interest income. Net income remained stable at approximately $2.2 million. Despite elevated operating costs linked to increased debt, the company is strategically expanding its mortgage loan portfolio beyond Connecticut. The solid loan repayment and new funding figures signal robust market demand. A quarterly dividend of $0.12 per share was declared, highlighting commitment to shareholders.