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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 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.
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.
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