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) has appointed John E. Warch, CPA, as the new Executive Vice President and Chief Financial Officer, effective August 1, 2022. Warch brings over 40 years of corporate finance expertise, having previously served as CFO and Senior VP at Four Springs Capital Trust. CEO John Villano expressed optimism about Warch's extensive experience in corporate finance, anticipating positive contributions to the company’s growth. Sachem Capital specializes in securing first mortgage loans for real estate investors, focusing on Connecticut properties.
Sachem Capital Corp. (SACH) announced a quarterly dividend of $0.14 per share, a 16% increase from the previous quarter. Shareholders on record by July 21, 2022, will receive the payment on July 28, 2022. The company focuses on providing short-term, non-banking loans to real estate investors, primarily in Connecticut. Each loan is secured by a first mortgage, ensuring a conservative approach to underwriting. Sachem believes it qualifies as a real estate investment trust (REIT) for federal tax purposes.
Sachem Capital Corp. (SACH) has successfully sold an additional $2.5 million in 7.125% unsecured notes due 2027, following the underwriters’ over-allotment option. This sale brings the total gross proceeds from the offering to $30 million, with net proceeds of $28.8 million after deductions. The notes are traded under the symbol SCCF. The offering was managed by Ladenburg Thalmann, Janney Montgomery Scott, InspirEx, and William Blair.
Sachem Capital Corp. (NYSE American: SACH) announced that Bill Haydon, Chief Investment Officer, will present at the Spring Into Action - Best Ideas Investor Conference from May 16-20, 2022. Haydon's presentation is scheduled for May 18 at 9:00 a.m. ET, available for live webcast and replay. The conference highlights top investment ideas recommended by qualified institutional investors. Interested parties can register for the conference and request one-on-one meetings via the provided email.
Sachem Capital Corp. has successfully closed its registered public offering of $27.5 million in 7.125% unsecured notes due 2027, with net proceeds expected to be around $26.3 million after costs. The offering includes a 30-day option for underwriters to purchase an additional $4.125 million of notes. The notes will mature on June 30, 2027, and interest will be payable quarterly, starting September 30, 2022. Funds raised will primarily support new real estate loans secured by first mortgage liens. The notes are rated BBB+ by Egan-Jones Ratings Company.
Sachem Capital Corp. (SACH) has announced a registered public offering of $27.5 million in 7.125% unsecured notes set to mature on June 30, 2027. The net proceeds are expected to be about $26.3 million after expenses. The offering is scheduled to close on May 11, 2022, with an option for underwriters to purchase an additional $4.125 million. The notes will rank pari passu with the company’s existing debt and will pay interest quarterly, starting September 30, 2022. These notes are rated BBB+ by Egan-Jones Ratings Company.
Sachem Capital Corp. (NYSE American: SACH) announced a registered public offering of unsecured, unsubordinated notes due in five years. These notes, expected to trade under the symbol “SCCF,” will have a private credit rating of BBB+ from Egan-Jones Ratings Company. The offering aims to bolster the company’s financing capabilities, as it specializes in short-term, secured loans for real estate investors. Joint book-running managers include Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC, among others.
Sachem Capital Corp. (NYSE American: SACH) reported strong financial results for Q1 2022, achieving $3.4 million in net income attributable to common shareholders and $4.5 million in non-GAAP adjusted earnings. Revenue surged by 80.3% to $10.3 million, driven by increased lending operations. Total assets rose to $481.8 million, while total liabilities increased to $282.4 million. The company's total shareholders' equity improved to $199.4 million.
A conference call is scheduled for May 4, 2022, to discuss these results and future outlook.
Sachem Capital Corp. (NYSE American: SACH) has declared a quarterly dividend of $0.12 per share, payable to shareholders of record as of April 11, 2022, with the payment date set for April 18, 2022. CEO John Villano highlighted strong financial results for 2021 and expressed confidence in the company’s scalable business model, anticipating continued profitability and meaningful dividends in the future.
Sachem Capital Corp. (SACH) announced strong financial results for 2021, reporting a record net income of $11.5 million, or $0.44 per share, reflecting a 27.5% increase from the previous year. Total revenue grew 63.5% to approximately $30.4 million, driven by expanded lending operations. The company increased its total assets by 84.4% to approximately $418.0 million and maintained a robust loan pipeline despite rising interest rates. To support growth, SACH raised $101.8 million through public offerings of unsecured notes in late 2021 and early 2022.