Welcome to our dedicated page for Sachem Capital Common Shares news (Ticker: SACH), a resource for investors and traders seeking the latest updates and insights on Sachem Capital Common Shares stock.
Sachem Capital Corp. (SACH) is a United States-based real estate investment trust (REIT). The company has been financing opportunistic real estate transactions in the New England area since 2010. Specializing in originating, underwriting, funding, servicing, and managing a portfolio of short-term loans, Sachem provides quick, short-term bridge capital for real estate investors, builders, or developers who need immediate funding or solutions to immediate problems.
Sachem Capital's primary objective is to grow its loan portfolio while protecting and preserving capital. The company focuses on offering creative real estate financing solutions developed exclusively for those seeking alternatives to conventional bank loans. Their hands-on managers have extensive experience in real estate acquisitions, investments, management, and development, allowing them to quickly assess complex opportunities and deliver efficient and opportunistic closing products to borrowers while ensuring profitability for shareholders.
The executive team boasts extensive experience in real estate, and this expertise enables the company to address the constant volatility and instability in today's financial markets. Since being listed on the NYSE on February 10, 2017, Sachem Capital has continued to thrive, providing attractive risk-adjusted returns to shareholders over the long term through dividends.
The majority of the company's revenue is generated from interest income from loans secured by first mortgage liens on real property located in Connecticut. These properties, typically residential or commercial, are often held for resale or investment. Each loan is secured by a first mortgage lien on real estate and is personally guaranteed by the principal(s) of the borrower. Apart from lending activities, Sachem Capital also engages in opportunistic real estate purchases.
Sachem Capital reported Q3 2024 financial results with total revenue of $14.8 million, down from $17.8 million in Q3 2023. The company posted a net loss of $6.1 million ($0.13 per share), compared to net income of $5.2 million ($0.12 per share) in Q3 2023. Interest income decreased to $11.4 million from $14.3 million, while operating expenses increased to $19.6 million from $11.3 million, primarily due to an $8.1 million provision for credit losses. Total assets decreased to $555.5 million from $625.5 million at year-end 2023. The company declared a quarterly dividend of $0.05 per share.
Sachem Capital (NYSE American: SACH) has declared a quarterly dividend of $0.05 per share, payable on November 26, 2024, to shareholders of record as of November 18, 2024. The company will release its third quarter 2024 financial results before market open on November 14, 2024, followed by a webcast and conference call at 8:00 a.m. Eastern Time to discuss the results. Investors can access the webcast through the company's website and participate in the conference call through provided domestic and international dial-in numbers.
Sachem Capital Corp. (NYSE American: SACH) has acquired a 20% membership interest in Shem Creek Capital, for $5 million. This strategic move aims to diversify Sachem's business model and expand into asset management. Shem Creek Capital, established in 2008, specializes in commercial real estate finance, focusing on first mortgage loans in the Northeastern United States.
Key points:
- Sachem has the option to acquire an additional 10% stake by 2027
- Sachem has previously invested $47 million with Shem, generating double-digit returns
- The partnership is expected to drive growth and deliver strong risk-adjusted returns for investors
Sachem Capital Corp. (SACH) has appointed Jeffery C. Walraven to its Board of Directors, effective August 21, 2024. Mr. Walraven, co-founder and COO of Freehold Properties, Inc., brings extensive experience in real estate, public company leadership, accounting, and capital markets. He also serves as an independent director for Broad Street Realty, Inc. (OTCQX: BRST) and previously held executive positions at MedEquities Realty Trust, Inc. and BDO USA, LLP.
The appointment is part of Sachem Capital's efforts to refresh its Board, with CEO John L. Villano expressing confidence that Walraven's expertise will be invaluable as the company pursues growth and shareholder value creation. Mr. Walraven will stand for election at the company's 2024 Annual Meeting of Shareholders.
Sachem Capital Corp. (NYSE American: SACH), a real estate lender, reported its Q2 2024 financial results. Total revenue was $15.1 million, down from $16.3 million in Q2 2023. The company experienced a net loss of $4.1 million, or $0.09 per share, compared to a net income of $4.8 million, or $0.11 per share, in Q2 2023. This shift was primarily due to an $8.5 million provision for credit losses. Despite challenges, Sachem maintained a disciplined approach, reducing total indebtedness by $33.8 million. Total assets stood at $586.3 million, with net mortgages receivable at $485.7 million. The company paid a quarterly dividend of $0.08 per share and intends to continue operating as a REIT.
Sachem Capital Corp (NYSE American: SACH) has announced the release date for its second quarter 2024 financial results. The company will disclose its earnings before market open on Wednesday, August 14, 2024. Following the release, Sachem Capital will host a webcast and conference call at 8:00 a.m. Eastern Time on the same day to discuss the results.
Investors can access the webcast through the company's website at www.sachemcapitalcorp.com. For those participating via telephone, the domestic dial-in number is 1-877-704-4453, while the international number is 1-201-389-0920. A playback of the conference call will be available until August 28, 2024, using the passcode 13746956.
Sachem Capital Corp (NYSE American: SACH) has declared a quarterly dividend of $0.08 per share. The dividend will be paid to shareholders of record as of the close of trading on the NYSE American on July 29, 2024. The payment date for this dividend is set for August 6, 2024. This announcement demonstrates Sachem Capital's commitment to providing regular returns to its shareholders, maintaining its dividend distribution policy.
Sachem Capital Corp. (NYSE American: SACH) announced the withdrawal of its planned debt offering, initially intended to be USD-denominated unsecured, unsubordinated notes due in five years.
The decision was made due to unfavorable market conditions regarding pricing, which the company deemed excessive and restrictive. CEO John Villano assured shareholders and noteholders that Sachem Capital has sufficient liquidity through its existing credit facilities and liquid mortgage portfolio. The company remains committed to its disciplined underwriting and loan origination processes to maximize risk-adjusted returns and protect capital. This move aims to safeguard the long-term interests of Sachem's business and its shareholders.
Sachem Capital Corp. (NYSE American: SACH) has announced its intention to delist its 7.125% unsecured, unsubordinated Notes (ticker symbol: SCCB) from the NYSE American and deregister them under the Exchange Act of 1934. These Notes, due June 30, 2024, will be redeemed at par value plus accrued and unpaid interest up to the maturity date. The final trading day for the Notes will be June 28, 2024, and the final payment will be made on July 1, 2024, due to the maturity date falling on a non-trading day. Noteholders will be directly notified about the redemption process, and no further action is required on their part. Sachem Capital does not plan to list the Notes on another national securities exchange or quotation medium.
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.
FAQ
What is the current stock price of Sachem Capital Common Shares (SACH)?
What is the market cap of Sachem Capital Common Shares (SACH)?
What is Sachem Capital Corp.?
When was Sachem Capital Corp. listed on the NYSE?
What types of properties secure Sachem Capital's loans?
What is Sachem Capital's primary revenue source?
Who guarantees the loans provided by Sachem Capital?
What is Sachem Capital's primary underwriting criteria?
In which geographic area does Sachem Capital primarily operate?
What is the company's approach to real estate financing?
Does Sachem Capital engage in activities other than lending?
How does Sachem Capital ensure profitability for shareholders?
