Profile
Sector:
Real EstateIndustry:
MortgageCountry:
United StatesIPO:
10 February 2017Website:
http://www.sachemcapitalcorp.comNext earnings report:
14 August 2024Last dividends:
08 April 2024Next dividends:
N/APrice
after hours | Fri, 28 Jun 2024 23:42:27 GMTAnalysts recommendations
Institutional Ownership
SACH Latest News
BRANFORD, Conn., June 27, 2024 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) today announced that it is withdrawing its previously announced debt offering. The company had intended to offer USD-denominated unsecured, unsubordinated notes due five years from the date of issuance. The company has concluded that current market conditions regarding pricing were excessive and restrictive and, thus, not in the best interest of the company and its shareholders.
BRANFORD, Conn., June 24, 2024 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) announced today that the company intends to delist its 7.125% unsecured, unsubordinated Notes due June 30, 2024 (“Notes”), ticker symbol “SCCB”, from the NYSE American and to deregister the Notes under the Exchange Act of 1934, as amended. The company will redeem the Notes at par value plus accrued and unpaid interest up to, but not including, the maturity date.
Sachem Capital's share price has dropped almost 30%, pushing the yield over 15%. The balance sheet shows improvements with increased cash and liquidity preservation efforts. Short-term cuts may occur, but the future outlook remains positive with the potential for stable dividends and long-term viability, making SACH stock a Buy.
BRANFORD, Conn., June 06, 2024 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) today announced the appointment of Nicholas M. Marcello, as its interim Chief Financial Officer, effective immediately. John Villano, CPA, who previously served as both Chief Executive Officer and interim Chief Financial Officer, will continue to serve as the Company's Chief Executive Officer.
Sachem Capital: Avoid The 12% Common Dividend Yield For The Bonds
Sachem Capital Corp. (SACH) Q4 2023 Earnings Call Transcript
BRANFORD, Conn., March 28, 2024 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) (the “Company”) announced today that the Company will release its 2023 financial results before market open on Monday, April 1, 2024. A webcast and conference call to discuss the results will be held on Monday, April 1, 2024 at 8:00 a.m. Eastern Time.
Sachem Capital's fixed income securities are attractive. Sachem's interest payments are well covered, and its balance sheet is robust, providing a cushion for debt holders. Some of the baby bonds issued by Sachem offer a yield to maturity of approximately 9%, providing excellent value for money.
Sachem Capital is a mortgage REIT that focuses on loans secured by first mortgage liens on residential and commercial properties. The company has experienced a lot of growth since its IPO, and its solvency profile appears to be healthy. While the common shares seem attractive at current levels, investors may also be interested in its preferred shares and unsecured notes that offer high yields that are probably more sustainable.
Sachem Capital is a mortgage REIT primarily operating in Connecticut with plans to expand into other areas. The company has experienced significant growth in assets but has also seen increases in total shares and a flat dividend per share. Concerns include the company's increased leverage, rising interest rates, and a focus on growth over return on equity.
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What type of business is Sachem Capital?
Sachem Capital Corp. operates as a real estate finance company. The company is involved in the originating, underwriting, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real property located primarily in Northeastern United States and Florida. It offers loans to real estate investors and owners to fund their acquisition, renovation, rehabilitation, development, and/or improvement of residential or commercial properties. The company has elected to be taxed as a real estate investment trust (REIT) and would not be subject to federal income taxes if it distributes at least 90% of its taxable income each year to its stockholders. Sachem Capital Corp. was founded in 2010 and is based in Branford, Connecticut.
What sector is Sachem Capital in?
Sachem Capital is in the Real Estate sector
What industry is Sachem Capital in?
Sachem Capital is in the Mortgage industry
What country is Sachem Capital from?
Sachem Capital is headquartered in United States
When did Sachem Capital go public?
Sachem Capital initial public offering (IPO) was on 10 February 2017
What is Sachem Capital website?
https://www.sachemcapitalcorp.com
Is Sachem Capital in the S&P 500?
No, Sachem Capital is not included in the S&P 500 index
Is Sachem Capital in the NASDAQ 100?
No, Sachem Capital is not included in the NASDAQ 100 index
Is Sachem Capital in the Dow Jones?
No, Sachem Capital is not included in the Dow Jones index
When does Sachem Capital report earnings?
The next expected earnings date for Sachem Capital is 14 August 2024