Sachem Capital Stock Price, News & Analysis

Sachem Capital Corp. (SACH) has declared a quarterly dividend of $0.12 per share, payable on July 30, 2021, to shareholders of record as of July 26, 2021. The announcement follows a strong first half of 2021 and a successful public offering that generated $45.4 million in net proceeds, enhancing the company’s flexibility and growth strategy. CEO John Villano indicates increased demand for their loan products, attributed to stability in their loan portfolio.

Sachem Capital Corp. (NYSE American: SACH) announced the filing of a Registration Statement for Sachem Acquisition Corp. (SAC), a special purpose acquisition company, with the SEC for an initial public offering (IPO) of up to 5,750,000 units at $10.00 each, totaling $50 million. SAC will focus on real estate sector acquisitions. Upon completion, Sachem Capital will hold a 19% stake in SAC. EF Hutton is the sole book-running manager for the offering, which includes a 45-day option to purchase an additional 750,000 units. The registration has not yet become effective.

Sachem Capital Corp. (NYSE American: SACH) has announced the partial exercise of an overallotment option for its public offering of 1,700,000 shares of 7.75% Series A Cumulative Redeemable Preferred Stock, closing on June 29, 2021. The additional purchase of 203,000 shares will generate approximately $4.9 million in net proceeds. The total net proceeds from the offering are expected to be $45.4 million, intended for working capital, primarily new real estate loans. The Series A Preferred Stock is rated 'BBB' and will begin trading on July 6, 2021.

Sachem Capital Corp. (NYSE American: SACH) has completed an underwritten public offering of 1,700,000 shares of its 7.75% Series A Cumulative Redeemable Preferred Stock, raising $42.5 million, with net proceeds anticipated to be around $40.5 million. The shares are priced at $25.00 each, and a 30-day underwriters' option for an additional 255,000 shares is available. The Series A Preferred Stock received a 'BBB' rating and is set to trade on NYSE American under symbol 'SACHPRA' starting July 6, 2021. Proceeds will primarily fund new real estate loans and potential acquisitions.

Sachem Capital Corp. (SACH) has initiated an underwritten public offering of its Series A Cumulative Redeemable Preferred Stock. The specific terms, including the number of shares and dividend rate, will be determined through negotiations. The Series A Preferred Stock, rated 'BBB' by Egan-Jones Ratings, is expected to be listed on NYSE American within 30 days after issuance. A 30-day overallotment option will also be granted to underwriters. Investors are advised to review the preliminary prospectus for comprehensive details.

Sachem Capital Corp. (SACH) reported a strong financial performance for Q1 2021, with total revenue increasing by 32.5% to approximately $5.7 million, driven by a 56% surge in interest income. Net income remained stable at approximately $2.2 million. Despite elevated operating costs linked to increased debt, the company is strategically expanding its mortgage loan portfolio beyond Connecticut. The solid loan repayment and new funding figures signal robust market demand. A quarterly dividend of $0.12 per share was declared, highlighting commitment to shareholders.

Sachem Capital Corp. (NYSE American: SACH) has appointed William C. Haydon as Chief Investment Officer and Director of Investor Relations. Mr. Haydon brings over 25 years of experience in finance and capital markets to his new role, where he will manage the company's liquid reserves and securities portfolio. CEO John Villano emphasized Haydon's knowledge in lending and asset management, anticipating his contributions will enhance investor relations and support the company's growth.

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.