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) 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.
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.
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.
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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