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. (NYSE American: SACH) announced record financial results for the year ended December 31, 2022, achieving $52.3 million in revenue, a 71.8% increase from $30.4 million in 2021. Net income attributable to common shareholders was $17.2 million, up 50.2% compared to $11.5 million in the previous year, resulting in earnings per share of $0.46. Total assets grew 35.3% to approximately $565.7 million, driven by a significant increase in the mortgage loan portfolio. The company plans to maintain its REIT status and continue dividend distributions, having declared $14.9 million in dividends.
BRANFORD, Conn., March 28, 2023 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) announced it will release its 2022 financial results after market close on March 30, 2023. The company will host a conference call and webcast on March 31, 2023, at 8:00 a.m. Eastern Time to discuss these results. Investors can participate via telephone or listen to the live broadcast on the company's website. Sachem Capital specializes in providing short-term, non-banking mortgage loans primarily to real estate investors in Connecticut, New York, and Florida, and has been taxed as a real estate investment trust (REIT) since 2017.
Sachem Capital Corp. announced a $45 million revolving line of credit from Needham Bank to enhance liquidity and support its growth strategy. Chief Financial Officer, John Warch, emphasized this financing improves the company's financial flexibility to scale operations and fund new mortgage loan originations. The line of credit can potentially expand to $75 million with additional lender commitments. This development reflects Sachem's ongoing initiatives in the real estate lending market, as it provides both working capital and capacity for growth.
Sachem Capital Corp. (NYSE American: SACH) announced the resignation of Chief Investment Officer William C. Haydon to pursue retirement and other opportunities. His responsibilities will be transitioned to CEO John Villano and the finance and accounting team. Haydon will remain an advisor until July 31, 2023. CEO Villano expressed appreciation for Haydon's contributions in establishing a strong team and underwriting standards that support the company's future.
Sachem Capital Corp. (SACH) has declared a quarterly dividend of $0.13 per share, payable on January 10, 2023, to shareholders recorded as of the close of trading on December 30, 2022. The company specializes in non-banking, short-term, secured mortgage loans primarily for real estate investments in Connecticut, New York, and Florida. Since 2017, it has been taxed as a Real Estate Investment Trust (REIT), supporting its focus on real estate lending and investment strategies.
Sachem Capital Corp. (SACH) reported a third-quarter net income of $4.1 million, translating to $0.11 per share, with revenue rising 58.9% to $13.5 million, driven by robust lending operations. The company achieved $5.2 million in non-GAAP adjusted earnings, or $0.13 per share. Despite operational success, total expenses surged to approximately $8.5 million due to increased indebtedness and rising costs. Assets rose to $561.8 million, while liabilities increased to $342.5 million. A conference call will be held on November 10, 2022, to discuss the results and outlook.
Sachem Capital Corp. (NYSE American: SACH) has declared a quarterly dividend of $0.13 per share, payable to shareholders of record as of November 7, 2022. This dividend is set to be paid on November 14, 2022. Specializing in first mortgage loans and secured non-banking loans for real estate investors, Sachem Capital aims to capitalize on investment opportunities while adhering to conservative underwriting criteria. The company believes it qualifies as a REIT for federal income tax purposes.
Sachem Capital Corp. (NYSE American: SACH) has acquired the business assets of Urbane New Haven for 300,000 common shares, announced on October 10, 2022. Urbane specializes in real estate development and construction, enhancing Sachem's construction finance capabilities. Eric O’Brien from Urbane has been appointed as the new Senior VP of Asset Management. This strategic acquisition aims to improve underwriting standards, generate new income streams, and allow Sachem to undertake larger, more profitable construction loans amidst current market challenges.
Sachem Capital Corp. (NYSE American: SACH) has authorized a stock repurchase program to buy back up to $7.5 million of its common shares. The repurchases will occur at current market prices or through private transactions, based on factors such as market conditions and capital needs. The program is set to run through September 30, 2023, unless adjusted by the Board. CEO John Villano believes this initiative is in the best interests of shareholders, reflecting confidence in the company’s value amidst fluctuating stock prices.
Sachem Capital Corp. (NYSE American: SACH) announced the successful sale of $5.25 million in unsecured notes, totaling $40.25 million from the offering. The net proceeds approximate $38.8 million after expenses. The notes, with an 8.00% interest rate and due in 2027, were fully allotted through underwriters. Joint managers for the offering include Ladenburg Thalmann & Co. Inc. and others. Sachem Capital specializes in first mortgage loans for real estate investments, classified as a REIT for tax purposes since 2017.