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. (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) has successfully sold an additional $6.75 million in unsecured notes, resulting in total gross proceeds of $51.75 million from its recent public offering. The net proceeds amount to $49.83 million after deducting underwriting costs and expenses. The notes carry a 6.0% interest rate and are set to mature in 2026. The offering was managed by several financial firms, including Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC.
Sachem Capital Corp. (NYSE American: SACH) has declared a quarterly dividend of $0.12 per share, payable on January 10, 2022, to shareholders of record on December 31, 2021. CEO John Villano expressed optimism about the company's strong financial performance in 2021 and its favorable outlook for 2022, positioning itself as a top non-bank real estate lender for new lending opportunities.
Sachem Capital Corp. (NYSE American: SACH) has completed a public offering of $45 million in 6.0% unsecured notes due 2026, with estimated net proceeds of approximately $43.3 million. An over-allotment option of $6.75 million is available until January 13, 2022. The notes will trade under the symbol 'SCCD' starting December 22, 2021, and are expected to fund new real estate loans primarily secured by first mortgage liens. These notes have a BBB+ rating from Egan-Jones Ratings Company.
Sachem Capital Corp. (NYSE American: SACH) has announced a public offering of $45 million in 6.0% unsecured notes due 2026. The net proceeds are estimated at approximately $43.3 million. The offering is expected to close on December 20, 2021, with an option for underwriters to purchase an additional $6.75 million in notes. The notes will have a BBB+ rating from Egan-Jones and will mature on December 30, 2026, with interest payable quarterly starting March 30, 2022. The company specializes in first mortgage loans for real estate investors in Connecticut.
Sachem Capital Corp. (NYSE American: SACH) has announced a public offering of unsecured, unsubordinated notes due in five years. The Notes will rank pari passu with the company's existing unsecured debts and are expected to be listed under the symbol 'SCCD'. The offering will be priced with an interest rate determined at that time. The securities carry a private rating of BBB+ from Egan-Jones Ratings. The offering is being managed by a group of financial institutions including Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC.
Sachem Capital Corp. (NYSE American: SACH) announced that Bill Haydon, Chief Investment Officer, will participate in the Benzinga All Access event on December 16, 2021, at 9:40 A.M. Eastern Time. The interview, hosted by Spencer Israel of Benzinga TV, will be broadcast live. Viewers can access the event here. An archived recording will later be available on Sachem's investor relations site.
Sachem Capital Corp. (NYSE American: SACH) has reconvened its 2021 Annual Meeting of Shareholders to discuss Proposal 2, now rescheduled for November 24, 2021, at 10:00 a.m. EST. This proposal seeks to amend the company’s certificate to increase authorized capital shares, requiring over 50% shareholder approval. The meeting was adjourned to provide more time for shareholders who have not yet voted, with the voting deadline set for 11:59 PM EST on November 23, 2021. Additionally, the amendment for preferred shares has been modified from 10 million to 7.5 million shares.
Sachem Capital Corp. (SACH) reported a remarkable 100% revenue growth in Q3 2021, totaling approximately $8.5 million, compared to $4.3 million in Q3 2020. The net income for the third quarter was $3.4 million, or $0.12 per share. For the nine months ended September 30, 2021, total revenue was approximately $20.9 million, a 62.5% increase year-over-year. The company is bolstered by a strong loan pipeline, a healthy balance sheet, and plans for further geographic expansion. A conference call is scheduled for November 5, 2021, to discuss these results.
Sachem Capital Corp. (NYSE American: SACH) announced that Bill Haydon, Chief Investment Officer, will present at the Dawson James Securities Small Cap Growth Conference on October 21, 2021, at 9:20 AM ET. The conference will be held at the Wyndham Grand Hotel in Jupiter, Florida. Mr. Haydon will also conduct one-on-one meetings with qualified investors during the event. Interested parties can access the live webcast and archived recordings through Sachem's investor relations page.
Sachem Capital Corp. (SACH) has declared a quarterly dividend of $0.12 per share, payable on October 29, 2021, to shareholders on record by the close of trading on October 25, 2021. CEO John Villano highlighted the company's ongoing growth and stability within its loan portfolio, emphasizing a strategic diversification into larger loans and geographic expansion. The company continues to experience strong market demand for its loan products and robust cash flow, fostering a positive outlook for the remainder of 2021.
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