Financial Performance - In 2025, the company reported a net interest income of $11.67 million, a decrease of 43.0% from $20.48 million in 2024[238]. - Interest income from loans fell to $32.22 million in 2025, down 25.3% from $43.15 million in 2024[238]. - The net income attributable to common shareholders improved to $1.84 million in 2025, compared to a loss of $43.88 million in 2024, marking a 104.2% increase[238]. - Operating expenses decreased by 16.4% to $13.10 million in 2025 from $15.67 million in 2024[238]. - Net cash provided by operating activities fell to $2.7 million in 2025 from $12.9 million in 2024, a decrease of 384.2%[278]. - Net cash provided by investing activities decreased by $50.6 million, or 172.3%, to $29.4 million in 2025[278]. - Book value per common share decreased to $2.46 in 2025 from $2.64 in 2024, a decline of $0.18 year over year[270]. Asset and Liability Management - Total assets decreased by $32.0 million, or 6.5%, to $460.0 million as of December 31, 2025, primarily due to debt reduction[272]. - Total liabilities decreased by $25.2 million, or 8.1%, to $285.1 million, driven by the repayment of unsecured notes and credit facilities[273]. - Total shareholders' equity decreased by $6.8 million, or 3.7%, to $174.9 million, impacted by common stock dividends of $9.5 million and Series A Preferred stock dividends of $4.5 million[275]. Debt and Financing Activities - The company issued $100 million in Senior Secured Notes due 2030, with $90 million drawn as of December 31, 2025, at an interest rate of 9.875%[222]. - The company issued $100.0 million in Senior Secured Notes due 2030 to reposition its capital structure, with $90.0 million drawn as of December 31, 2025[248]. - Long-term cash needs include principal and interest payments on outstanding indebtedness totaling $173.2 million maturing in late 2026 and 2027, along with preferred stock dividends and funding for new mortgage loans[280]. - Total contractual obligations as of December 31, 2025, amount to $38.527 million, with $26.089 million due within one year[284]. - Management believes that maturing notes payable will be addressed through a combination of operating cash flow, credit facility capacity, and potential capital markets transactions[280]. Loan and Investment Performance - Average loans held for investment were $376.4 million in 2025, down from $468.8 million in 2024, with an effective yield of 8.6% compared to 9.2%[243]. - Interest income from loans decreased year over year, primarily due to lower net loan originations, with average total performing loans at $269.3 million in 2025 versus $366.6 million in 2024[243]. - The provision for credit losses related to loans held for investment significantly decreased by 87.8% to $3.28 million compared to $26.93 million in 2024[238]. Market and Operational Outlook - The company plans to address upcoming unsecured note maturities through operating cash flow, asset resolutions, and capital market activity[225]. - The company projects that its current cash balances, availability on debt facilities, and anticipated cash flows from operations will be sufficient to fund operations for the next 12 months[279]. - The company continues to evaluate capital market access and balance sheet positioning in advance of upcoming debt maturities[280]. - The company is not a party to any off-balance sheet transactions that could affect liquidity or capital resource availability[282]. - Recent accounting pronouncements impacting the company are detailed in the financial statements[285]. - The company is classified as a "smaller reporting company" and is not required to provide certain market risk disclosures[286]. Property Transactions - The company successfully sold an office property in Westport, Connecticut, generating net cash proceeds of approximately $19.9 million and a book gain of about $4.0 million[222]. - The company completed a noncash transaction to acquire 100% of the membership interests of a condominium entity with a net book value of approximately $39.9 million[226].

Core Viewpoint - Sachem Capital Corp. reported its financial results for the year ended December 31, 2025, highlighting a focus on disciplined capital allocation and balance sheet strength while addressing legacy exposures and positioning for value creation [2][3]. Financial Performance - Net interest income decreased to $11.7 million in 2025 from $20.5 million in 2024, primarily due to lower interest income as loan originations moderated [4]. - The effective interest rate on loans held for investment was 12.0% in 2025, compared to 11.8% in 2024, with an average performing loans balance of $269.3 million in 2025 versus $366.6 million in 2024 [4]. - The net interest margin fell to 3.1% in 2025 from 4.4% in 2024, reflecting both structural and cyclical factors [5]. - Total other income remained stable at $9.9 million in 2025 compared to $9.4 million in 2024, with shifts in composition rather than magnitude [6]. Credit and Operational Metrics - There was a significant reduction in credit-related charges in 2025, with provisioning reflecting loan-specific adjustments rather than broad-based reserve recalibration [7]. - The company issued $100 million in Senior Secured Notes due 2030, extending its weighted average debt maturity profile [7]. - Total operating expenses decreased to $13.1 million in 2025 from $15.7 million in 2024, attributed to lower credit-related charges and improved expense discipline [8]. Net Income and Shareholder Equity - Net income attributable to common shareholders was $1.8 million, or $0.04 per share, compared to a net loss of $43.9 million, or $0.93 per share, in 2024 [9]. - Total assets as of December 31, 2025, were $460 million, down from $492 million in 2024, while total liabilities decreased to $285.1 million from $310.3 million [10]. - Total shareholders' equity was $174.9 million as of December 31, 2025, compared to $181.7 million in 2024 [12]. Book Value and Dividends - Book value per common share decreased to $2.46 as of December 31, 2025, from $2.64 in 2024, primarily due to cash dividends declared and paid totaling $14 million [13]. - The company paid $4.5 million in dividends to Series A Preferred Stockholders and $9.5 million to common shareholders during 2025 [15]. Company Overview - Sachem Capital Corp. operates as a mortgage REIT, specializing in originating, underwriting, funding, servicing, and managing loans secured by first mortgages on real property [20].

Core Viewpoint - Sachem Capital Corp. will release its fourth quarter and full year 2025 financial results on March 12, 2026, with a conference call scheduled for March 13, 2026, at 8:00 a.m. Eastern Time [1]. Company Overview - Sachem Capital Corp. is a mortgage REIT that focuses on originating, underwriting, funding, servicing, and managing a portfolio of loans secured by first mortgages on real property [3]. - The company provides short-term, secured, nonbanking loans to real estate investors for property acquisition, renovation, development, rehabilitation, or improvement [3]. - The primary underwriting criterion is a conservative loan-to-value ratio, with loans secured by mortgage liens on real estate and often personally guaranteed by the borrower’s principal [3]. - The properties securing the loans are typically classified as residential or commercial real estate, held for resale or investment [3]. - In addition to lending activities, the company also engages in opportunistic real estate purchases [3]. Conference Call Details - A webcast of the conference call will be available on the company's website, and participants are advised to register at least 15 minutes prior to the start time [2]. - For those wishing to participate via telephone, domestic and international dial-in numbers are provided, along with playback options available until March 27, 2026 [3].

Financial Performance - Net income attributable to common shareholders for the year ended December 31, 2025 is expected to be within a range of $0.01 to $0.04 per share[4] - Book value per common share as of December 31, 2025 is expected to be within a range of $2.43 to $2.46[4] - The preliminary financial information is subject to completion of the Company's year-end closing procedures and audit, indicating potential for material differences from estimates[4]

Core Viewpoint - Sachem Capital Corp. has made significant progress in its portfolio initiatives, including the sale of an office asset and the acquisition of condominium assets in Naples, Florida, aimed at strengthening liquidity and enhancing shareholder value [2][3]. Portfolio and Financing Activities - The company sold its office property in Westport, Connecticut, generating net cash proceeds of approximately $19.9 million and realizing a book gain of about $4.0 million, which bolstered its liquidity and balance sheet [3]. - The acquisition of condominium assets in Naples, Florida, involved a noncash exchange transaction valued at approximately $39.9 million, allowing the company to consolidate control over these assets while maintaining a secured lender position on a separate waterfront parcel [5][9]. - Urbane Capital, the company's subsidiary, will manage and develop the acquired condominium assets, which include three completed units and a southern parcel entitled for four additional units, with sales expected over the next 18 to 24 months [6][8]. Credit Facility Update - The company amended its $50.0 million revolving credit facility, extending its maturity from March 2, 2026, to March 2, 2028, with an option for an additional one-year extension, enhancing liquidity and balance sheet flexibility [10][11]. Preliminary Results for 2025 - Net income attributable to common shareholders for 2025 is projected to be between $0.01 and $0.04 per share, a significant improvement from a net loss of $0.93 per share in 2024 [12]. - The book value per common share is expected to range from $2.43 to $2.46, down from $2.64 in 2024, primarily due to cash dividends exceeding net income for the year [13].

Financial Performance - Total revenue for Q3 2025 was $12.0 million, a decrease of 19% from $14.8 million in Q3 2024[4] - Total revenues for Q3 2025 were $12,000,000, a decrease of 18.9% from $14,785,000 in Q3 2024[22] - Interest income from loans decreased to $8,326,000 in Q3 2025 from $11,420,000 in Q3 2024, representing a decline of 27.5%[22] - Net income attributable to common shareholders was a loss of $120,000 in Q3 2025 compared to a loss of $6,146,000 in Q3 2024[22] - Net loss attributable to common shareholders was $0.1 million, or $0.00 per share, compared to a net loss of $6.1 million, or $0.13 per share in Q3 2024[7] Operating Costs - Total operating costs and expenses decreased to $12.4 million in Q3 2025 from $19.6 million in the same quarter last year[5] - Operating expenses decreased to $12,367,000 in Q3 2025 from $19,607,000 in Q3 2024, a reduction of 37.0%[22] - The provision for credit losses related to loans held for investment was $812,000 in Q3 2025, significantly lower than $8,096,000 in Q3 2024[22] Assets and Liabilities - Total assets at the end of Q3 2025 were $484.4 million, down from $492.0 million as of December 31, 2024[8] - Total liabilities decreased to $308.8 million from $310.3 million as of December 31, 2024[8] - Total shareholders' equity as of September 30, 2025, was $175.6 million, down from $181.7 million as of December 31, 2024[10] - Book value per common share decreased to $2.47 as of September 30, 2025, from $2.64 as of December 31, 2024[11] Cash Flow and Dividends - Cash and cash equivalents at the end of the period were $5,881,000, down from $11,172,000 at the end of Q3 2024[23] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $13,510,000, compared to $5,624,000 for the same period in 2024[23] - Dividends paid on common shares increased to $14,159,000 in the nine months ended September 30, 2025, from $7,114,000 in the same period of 2024[24] - The company paid a dividend of $0.05 per share to common shareholders on September 30, 2025[13] Financing Activities - The company reported a net cash used in financing activities of $64,489,000 for the nine months ended September 30, 2025, compared to $14,107,000 in the same period of 2024[24] - The company issued Senior Secured Notes amounting to $90,000,000 during the reporting period[24] Company Strategy - The company intends to continue operating as a Real Estate Investment Trust (REIT) and comply with the requirement to distribute a minimum of 90% of taxable income to shareholders[12]

Group 1: Earnings Performance - Sachem Capital Corp. reported break-even quarterly earnings per share, compared to a loss of $0.13 per share a year ago, representing an earnings surprise of -100.00% [1] - The company posted revenues of $12 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 11.42%, but down from $14.78 million year-over-year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates just once and topped consensus revenue estimates only once [2] Group 2: Stock Performance and Outlook - Sachem Capital shares have lost about 21.5% since the beginning of the year, while the S&P 500 has gained 15.1% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters [4] - The current consensus EPS estimate for the coming quarter is $0.02 on revenues of $10.98 million, and $0.04 on revenues of $43.97 million for the current fiscal year [7] Group 3: Industry Context - The Zacks Industry Rank for Financial - Miscellaneous Services is currently in the top 31% of over 250 Zacks industries, indicating a favorable industry outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5] - The estimate revisions trend for Sachem Capital was unfavorable ahead of the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6]

Loans and Investments - Loans disbursed for the three months ended September 30, 2025, totaled $44.657 million, while loans repaid amounted to $40.651 million[129]. - As of September 30, 2025, the gross principal amount of loans held for investment was $375.220 million, with a weighted average contractual interest rate of 13.21%[129]. - The allowance for credit losses as of September 30, 2025, was $11.083 million, representing 3.0% of the total gross principal amount of loans held for investment[134]. - The number of loans held for investment outstanding decreased from 157 as of December 31, 2024, to 119 as of September 30, 2025[129]. - The primary markets for the company's loans held for investment included Connecticut (45.5% of loans), Florida (14.3%), and Massachusetts (8.4%) as of September 30, 2025[131]. - The aggregate gross principal amount of residential loans held for investment was $202.220 million, accounting for 53.9% of the total[132]. - The company’s loan portfolio included 54 loans of $1 million or less, representing 45.4% of the total number of loans[131]. - The weighted average term to maturity for loans held for investment increased from 4 months as of December 31, 2024, to 6 months as of September 30, 2025[129]. Financial Performance - Total revenues for the three months ended September 30, 2025, decreased by 18.8% to $12,000,000 compared to $14,785,000 for the same period in 2024[138]. - Interest income from loans fell by 27.1% to $8,326,000, while fee income from loans increased by 6.6% to $1,964,000[138]. - Net income for the three months ended September 30, 2025, was $997,000, a significant improvement from a net loss of $5,051,000 in the same period of 2024[138]. - The provision for credit losses related to loans held for investment dropped by 90.0% to $812,000 compared to $8,096,000 in 2024[138]. - Total operating expenses decreased by 36.9% to $12,367,000 from $19,607,000 in the prior year[138]. Asset and Equity Changes - Total assets decreased by $7.6 million, or 1.5%, to $484.4 million as of September 30, 2025, mainly due to a $6.9 million decrease in cash and cash equivalents[151]. - Total liabilities decreased by $1.5 million, or 0.5%, to $308.8 million as of September 30, 2025, driven by a $55.5 million reduction in notes payable[152]. - Total shareholders' equity decreased by $6.0 million, or 3.3%, to $175.6 million as of September 30, 2025, due to increased dividends paid[153]. - Book value per common share decreased to $2.47 as of September 30, 2025, down from $2.54 as of June 30, 2025[144]. - Book value per common share decreased to $2.47 as of September 30, 2025, from $2.64 at December 31, 2024, primarily due to $10.4 million in dividends paid[150]. Non-Performing Loans - The company reported a total of 104.066 million in non-performing loans as of September 30, 2025, with a direct reserve of $2.372 million[134]. - The aggregate non-performing loan balance as of September 30, 2024, was $147.0 million, an increase of $62.4 million from December 31, 2023[143]. - The aggregate non-performing loan balance increased to $147.0 million as of September 30, 2024, up $62.4 million from $84.6 million at December 31, 2023[149]. Cash and Financing Activities - Cash and cash equivalents increased by 90.0% to $11.2 million as of September 30, 2025, compared to $5.9 million at the end of the previous year[155]. - The company entered into a new Credit Agreement on March 20, 2025, with a maturity date of March 2, 2026, and had borrowed $32.7 million under this facility as of September 30, 2025[158]. - A private placement of $100.0 million in Senior Secured Notes was completed on June 11, 2025, with an initial draw of $50.0 million and an additional draw of $40.0 million in September 2025[159][160]. - The company reduced its investments in limited liability companies by $12.8 million since December 31, 2024, using returns to fund additional loans[140]. - The company has no off-balance sheet transactions that could affect liquidity or capital resource requirements[161]. Employee Compensation - Compensation and employee benefits increased by 33.8% to $2,334,000, attributed to one-time cash bonuses and additional headcount[142].

Core Viewpoint - Sachem Capital Corp. reported its financial results for Q3 2025, highlighting a focus on disciplined portfolio management and capital preservation amid a challenging macroeconomic environment [2][3]. Financial Performance - Total revenue for Q3 2025 was $12.0 million, down from $14.8 million in Q3 2024, primarily due to lower net new origination and an increase in nonperforming loans [4]. - The effective interest rate on loans held for investment was 12.4% for Q3 2025, slightly down from 12.6% in Q3 2024 [4]. - Net loss attributable to common shareholders was $0.1 million, or $0.00 per share, compared to a net loss of $6.1 million, or $0.13 per share, in Q3 2024 [6]. Operating Costs - Total operating costs and expenses for Q3 2025 were $12.4 million, significantly lower than $19.6 million in the same quarter last year [5]. - The provision for credit losses related to loans held for investment decreased to $0.8 million in Q3 2025 from $8.1 million in Q3 2024, reflecting a reduction in non-performing loan balances [5][22]. Balance Sheet - Total assets at the end of Q3 2025 were $484.4 million, down from $492.0 million as of December 31, 2024 [7]. - Total liabilities were $308.8 million, slightly down from $310.3 million at the end of 2024 [7]. - Total shareholders' equity decreased to $175.6 million from $181.7 million as of December 31, 2024 [9]. Dividends - The company paid a dividend of $0.484375 per share to Series A Preferred Stockholders and $0.05 per share to common shareholders on September 30, 2025 [12]. - The company intends to continue qualifying as a Real Estate Investment Trust (REIT) and plans to distribute a minimum of 90% of taxable income to shareholders [11]. Future Outlook - The company aims to capitalize on high-quality lending opportunities to drive long-term shareholder value into 2026 and beyond [3].

Core Viewpoint - Sachem Capital Corp. will release its third quarter 2025 financial results on November 5, 2025, before market open, followed by a webcast and conference call at 8:00 a.m. Eastern Time [1]. Company Overview - Sachem Capital Corp. is a mortgage REIT that focuses on originating, underwriting, funding, servicing, and managing a portfolio of loans secured by first mortgages on real property [3]. - The company provides short-term secured, nonbanking loans to real estate investors for property acquisition, renovation, development, rehabilitation, or improvement, with a primary underwriting criterion of a conservative loan-to-value ratio [3]. - The loans are typically secured by residential or commercial real estate, held for resale or investment, and are personally guaranteed by the principal(s) of the borrower [3]. - In addition to lending activities, the company also engages in opportunistic real estate purchases [3]. Conference Call Participation - To participate in the conference call, interested parties should dial in at least 15 minutes prior to the start time, with domestic and international numbers provided [3]. - A playback of the conference call will be available until November 19, 2025, with specific domestic and international numbers for access [3].