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.
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Sachem Capital Corp. (NYSE American: SACH) announced a quarterly dividend of $0.13 per share, payable on April 24, 2023. Shareholders must be on record as of April 17, 2023. The company specializes in underwriting and managing first mortgage loans, focusing on short-term secured loans for real estate investors in Connecticut, New York, and Florida. It operates as a real estate investment trust (REIT) for tax purposes. The company's loan portfolio is backed by actual property and personally guaranteed by borrowers.
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.