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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 public offering of unsecured, unsubordinated notes due in five years. These notes will rank pari passu with the company’s other unsecured debts and are expected to trade on the NYSE American under the symbol “SCCG” within 30 days of issuance. The notes have a BBB+ credit rating from Egan-Jones Ratings Company. The offering is managed by Ladenburg Thalmann, Janney Montgomery Scott, InspereX, and William Blair.
A preliminary prospectus supplement was filed with the SEC on August 17, 2022.
Sachem Capital Corp. (NYSE American: SACH) reported significant financial growth in its Q2 2022 results, achieving $4.3 million in net income attributable to common shareholders and $5.8 million in non-GAAP adjusted earnings, equating to earnings per share of $0.12 and $0.16, respectively.
Revenue surged 86.9% to $12.5 million, driven by increased lending operations and a new web-based underwriting platform. Total assets rose 25.7% to approximately $525.4 million, while total liabilities increased 34.7% to about $320.4 million.
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.
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