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 mortgage REIT and real estate lender whose news flow centers on its lending activities, capital structure, and REIT distributions. The company specializes in originating, underwriting, funding, servicing, and managing a portfolio of short-term, secured, nonbanking loans to real estate investors, with each loan secured by a first mortgage lien on residential or commercial real estate that is typically held for resale or investment.
News about Sachem Capital frequently covers quarterly and annual financial results, where management discusses revenue trends, loan portfolio performance, nonperforming loans, real estate owned, and provisions for credit losses. These earnings releases also provide detail on interest income from loans, fee income, income from limited liability company investments, and other income, along with operating expenses and net income or loss attributable to common shareholders.
Investors following SACH news will also see regular announcements of common and preferred dividend declarations, reflecting the company’s status as a REIT and the related requirement to distribute at least 90% of taxable income each year under federal income tax rules. The board’s decisions on quarterly dividends for common shares and 7.75% Series A Cumulative Redeemable Preferred Stock are routinely disclosed via press releases and related Form 8-K filings.
Another key category of news involves capital markets and financing transactions, such as private placements of senior secured notes, the repayment and delisting of maturing unsecured notes, and at-the-market programs for preferred shares. These updates describe how the company manages its debt maturity profile, liquidity, and funding sources for new loan originations and other investments. For a consolidated view of these developments, investors can use this page to review recent SACH headlines and monitor ongoing disclosures.
Sachem Capital Corp. (SACH) has declared a quarterly dividend of $0.12 per share, set to be paid on April 16, 2021, to shareholders of record as of April 12, 2021. The company highlights its strong business operations and loan pipeline amid the COVID-19 pandemic, continuing to expand in traditional and new markets like Florida. Sachem Capital focuses on mortgage loans secured by real property, primarily serving real estate investors and developers. Operating as a REIT since 2017, the firm aims for attractive risk-adjusted returns.
Sachem Capital Corp. (SACH) reported a significant increase in financial performance for 2020, with total revenue rising by 46.5% to $18.6 million and net income up 45% to $9.0 million compared to 2019. The fourth quarter alone saw a 98% revenue increase to $5.7 million and net income increased by 150% to $2.3 million. Total assets grew by 61% to $226.7 million, largely due to a 65% increase in mortgage loans. Despite higher operating costs, the company aims to continue its growth trajectory in 2021. A conference call is scheduled for April 1, 2021, to discuss these results and outlook.
Sachem Capital Corp. (NYSE American: SACH) has successfully completed an additional sale of $3 million in 7.75% unsecured unsubordinated notes due 2025, raising the total offering to $28 million. The notes were sold at a 1% discount, resulting in gross proceeds of $27.72 million. Combined with previous issuances, the total principal of the 2025 Notes now stands at $56.36 million. The company specializes in short-term secured loans for real estate investors, primarily in Connecticut, and has elected to be taxed as a REIT since 2017.
Sachem Capital Corp. (NYSE American: SACH) has declared a quarterly dividend of $0.12 per share to shareholders recorded as of December 31, 2020, payable on January 8, 2021. This dividend brings the total for 2020 to $0.48 per share, showcasing the company's resilience during the COVID-19 pandemic. Additionally, Sachem completed a $25 million public offering of 7.75% notes due 2025, with an additional $3 million from overallotment, enhancing its financial capacity to meet market demand for its loan products.
Sachem Capital Corp. (NYSE American: SACH) has priced a public offering of $25 million in 7.75% unsecured notes due 2025. The gross proceeds are estimated at $24.75 million, with net proceeds projected to be around $23.95 million after expenses. This note issuance builds on the previously issued 2025 Notes worth approximately $28.36 million. The offering is scheduled to close on December 22, 2020, with a potential additional purchase option of $3.75 million. Egan-Jones Ratings Company has assigned a BBB+ rating to the notes.
Sachem Capital Corp. (NYSE American: SACH) has announced a registered public offering of unsecured, unsubordinated notes, which will be issued alongside the existing $28,363,750 7.75% Notes due 2025. The new notes will rank equally with the company's other unsecured debts. The offering is rated BBB+ by Egan-Jones Ratings Company. Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC are managing the offering. Investors are advised to review the preliminary prospectus for detailed information on the offering and associated risks.