Financial Data and Key Metrics Changes - Revenue totaled $57.5 million, including $43.2 million in interest income, $8.6 million in fees from loans, and $5.2 million from LLC partnership investments [29] - Operating and other costs totaled $97.1 million, resulting in a GAAP net loss of $39.6 million, and a net loss available to common shareholders of $43.9 million after preferred stock dividends [30][31] - Book value at year-end 2024 was $2.64 per share, down from $3.83 per share in the prior year, reflecting a year-over-year change of 1.19% [36] Business Line Data and Key Metrics Changes - The non-performing loan book grew year-over-year by $18.3 million to $102.9 million, with $25.6 million gross in foreclosures or deeds in lieu [8][51] - Loans held in the investment portfolio included 157 loans with a gross principal value of $377 million and a weighted average contractual interest rate of 12.53% [13] - The company funded approximately $134 million in loans, modifications, and extensions during the year [40] Market Data and Key Metrics Changes - The company has diversified its business model, with significant investments in multifamily housing through partnerships, generating approximately $5.1 million in revenue from these investments [19] - The lending environment remains challenging due to restrictive bank lending policies and interest rate uncertainty, impacting borrowers' ability to secure financing [7] Company Strategy and Development Direction - The company aims to selectively build a pipeline of development projects with minimized completion risk and potential asset appreciation [16] - The strategic focus includes enhancing underwriting guidelines and construction service policies through its subsidiary Urbane New Haven [15] - The company is pursuing a more offensive strategy to seek affordable capital while protecting liquidity in the current tight funding environment [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the financial position moving into 2025, highlighting low leverage compared to peers and the ability to satisfy upcoming notes due [22][24] - The company anticipates challenges in the industry but remains optimistic about refilling the loan pipeline and funding accretive projects [47] - Management noted that the resolution of non-performing loans is ongoing, with significant progress made during 2024 [51] Other Important Information - The company successfully resolved $25.1 million of net unpaid principal balance (UPB) for $31.1 million in cash during 2024 [26] - The company has approximately $54 million in unfunded commitments, with expectations for funding to occur ratably over the year [70] Q&A Session Summary Question: What is the balance for the loans in non-accrual and foreclosure status as of 4Q? - Non-performing loans are approximately $100 million as of December 31, with significant progress made in resolving these loans [51][52] Question: Can you provide specifics on the loan sales? - The total UPB in the loan sale was $55.8 million, comprising 32 loans, with an average realization of around 65% [79] Question: What is the expectation on the timing of sales of REO or held-for-sale loans? - The company expects to see REO assets start to fall off the books quickly, with buyers available at reasonable prices [84]

Company Performance - Sachem Capital Corp. reported a quarterly loss of $0.33 per share, which was better than the Zacks Consensus Estimate of a loss of $0.43, but worse than a loss of $0.05 per share a year ago, indicating a 560% increase in loss year-over-year [1] - The company posted revenues of $10.77 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 18.45%, and down from $16.91 million in the same quarter last year [2] - Over the last four quarters, Sachem Capital has surpassed consensus EPS estimates only once [2] Stock Performance - Sachem Capital shares have declined approximately 14.8% since the beginning of the year, compared to a decline of 2.9% for the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is $0.06 on revenues of $13.91 million, and for the current fiscal year, it is $0.26 on revenues of $56.06 million [7] Industry Outlook - The Financial - Miscellaneous Services industry, to which Sachem Capital belongs, is currently ranked in the top 11% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Sachem Capital's stock performance [5]

Financial Data and Key Metrics Changes - Revenue totaled $57.5 million, including $43.2 million in interest income, $8.6 million in fees from loans, and $5.2 million from LLC partnership investments [30] - Operating and other costs totaled $97.1 million, resulting in a GAAP net loss of $39.6 million, and a net loss available to common shareholders of $43.9 million after preferred stock dividends [30][31] - Book value per common share at year-end 2024 was $2.64, down from $3.83 in 2023, reflecting a year-over-year change of $1.19 [33][37] Business Line Data and Key Metrics Changes - The non-performing loan book grew year-over-year by $18.3 million to $102.9 million, with $36.3 million in foreclosure status [8][57] - The company funded approximately $134 million in loans, modifications, and extensions during the year [14] - The portfolio included 157 loans with a gross principal value of $377 million and a weighted average contractual interest rate of 12.53% [13] Market Data and Key Metrics Changes - The company has diversified its portfolio across 14 states and the District of Columbia, with over 56% of the principal balance in residential real estate [14] - Multifamily investments generated approximately $5.1 million in revenues, representing a low-risk double-digit yield [20] Company Strategy and Development Direction - The company aims to stabilize its portfolio and position itself for future opportunities by removing non-performing loans and focusing on higher quality loans [9][10] - The company is pursuing a diversification strategy through partnerships, such as with Schemcrete Capital, to enhance its real estate finance capabilities [19][48] - The company plans to selectively build a pipeline of development projects to minimize completion risk and capture market rate earnings [16] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in 2024 due to restrictive bank lending policies and increased construction costs, impacting borrowers' ability to refinance [7] - The company is optimistic about its financial position moving into 2025, with a focus on protecting liquidity and seeking cost-effective capital [22][49] - Management expressed confidence in resolving non-performing loans and expects to generate sufficient cash flow to meet upcoming obligations [25][50] Other Important Information - The company closed on a new credit facility with Needham Bank, providing up to $50 million of committed liquidity [21] - The board declared a quarterly common dividend of $0.05 per share, aligning future dividend declarations with preferred stock payments [46] Q&A Session Summary Question: What is the balance for the loans in non-accrual and foreclosure status as of Q4? - Non-performing loans are approximately $100 million as of December 31st, with significant progress made in resolving them [55] Question: Can you provide specifics on the loan sales? - The total UPB in the loan sale was $55.8 million, comprising 32 loans, with an average realization of around 68% [79][80] Question: What is the status of unfunded loan commitments? - Approximately $54 million in unfunded commitments exists, expected to be funded ratably over the year [72]

Core Viewpoint - Sachem Capital Corp. reported a significant decline in financial performance for the year ended December 31, 2024, primarily due to reduced loan originations and increased credit loss provisions, while expressing confidence in future growth through disciplined capital allocation and strong industry relationships [2][3][5]. Financial Performance - Total revenue for 2024 was $57.5 million, down from $64.7 million in 2023, attributed to fewer loan originations and lower interest and fee income [3]. - Interest income decreased to $43.2 million in 2024 from $49.3 million in 2023, while income from partnership investments rose by approximately 48.8% year-over-year [3]. - Total operating costs and expenses increased to $75.3 million in 2024 from $49.7 million in 2023, mainly due to a $21.3 million rise in provisions for credit losses [4]. - The net loss attributable to common shareholders for 2024 was $43.9 million, or $0.93 per share, compared to a net income of $12.1 million, or $0.27 per share, in 2023 [5]. Balance Sheet Overview - Total assets as of December 31, 2024, were $492.0 million, down from $620.9 million in 2023, primarily due to a $130.5 million reduction in loans held for investment [6]. - Total liabilities decreased to $310.3 million in 2024 from $390.8 million in 2023, largely due to the repayment of $58.3 million in unsecured notes and a $21.8 million reduction in lines of credit [6]. - Total shareholders' equity at year-end 2024 was $181.7 million, down from $230.1 million at year-end 2023, mainly due to the operational net loss and dividends paid [8]. Dividends and Shareholder Returns - In 2024, the company paid a total of $4.3 million in dividends to Series A Preferred Stockholders and $11.4 million to common shareholders [9]. - A dividend of $0.484375 per share on Series A Preferred Stock was declared on February 24, 2025, payable on March 31, 2025 [10]. - A quarterly dividend of $0.05 per common share was also declared on March 6, 2025, expected to be paid on March 31, 2025 [10]. Company Profile - Sachem Capital Corp. operates as a mortgage REIT, focusing on originating, underwriting, funding, servicing, and managing loans secured by first mortgages on real property [15]. - The company provides short-term, secured, nonbanking loans to real estate investors for property acquisition and improvement, maintaining a conservative loan-to-value ratio [15].

"If you want have better performance than the crowd, you must do things differently than the crowd" Sir John Templeton I am a value investor and I try to look for misplaced bets, bets where the odds are heavily on my side. I make my own research, reach my own conclusions and try be an independent thinker.Analyst’s Disclosure: I/we have a beneficial long position in the shares of SACH, SCCD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opi ...

- Sets Date for Fourth Quarter 2024 Earnings Release and Conference Call -BRANFORD, Conn., March 06, 2025 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) (the “Company”) announced today that its board of directors authorized and declared a quarterly dividend of $0.05 per common share to be paid to shareholders of record as of the close of trading on the NYSE American on March 17, 2025. The dividend is payable on March 31, 2025. The Company expects to release its fourth quarter 2024 financial ...

BRANFORD, Conn., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE:SACH) announced today the tax treatment for the Company's distributions on its common stock (CUSIP: 78590A109) and preferred stock (CUSIP: 78590A505) paid with respect to the calendar year ended December 31, 2024: COMMON STOCK TAX INFORMATION    Box 1aBox 1bBox 2aBox 3Box 5Record DatePayable DateRate per ShareOrdinary Dividends Per ShareQualified Dividends Per ShareTotal Capital Gain Per ShareNondividend Dist. Per ShareSection 199 ...

BRANFORD, Conn., Dec. 24, 2024 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE:SACH) reminds holders that its 6.875% unsecured, unsubordinated Notes due December 30, 2024 ("Notes"), ticker symbol "SACC," will mature on December 30, 2024, as scheduled. The company will redeem the Notes at par plus accrued and unpaid interest up to, but not including, the maturity date. Sachem expects the last trading day for the Notes will be December 27, 2024.  After the maturity date, no Notes will remain outstanding. Ticke ...

Appoints Jeffrey C. Walraven Interim Chief Financial OfficerBRANFORD, Conn., Dec. 13, 2024 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE: SACH) (the “Company”), a mortgage REIT that specializes in originating, underwriting, funding, servicing, and managing a portfolio of loans secured by first mortgages on real property, announced today that it is appointing board of directors’ member and audit committee member Jeffrey C. Walraven, Interim Chief Financial Officer. Nicholas Marcello, the Company’s Chief Fin ...

Company Performance - Sachem Capital Corp. reported a quarterly loss of $0.13 per share, missing the Zacks Consensus Estimate of $0.09, and compared to earnings of $0.12 per share a year ago, representing an earnings surprise of -244.44% [1] - The company posted revenues of $14.79 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 1.75%, and down from $17.53 million year-over-year [2] - Over the last four quarters, Sachem Capital has not surpassed consensus EPS estimates, although it has topped consensus revenue estimates twice [2] Stock Performance - Sachem Capital shares have declined approximately 47.9% since the beginning of the year, contrasting with the S&P 500's gain of 25.5% [3] - The current consensus EPS estimate for the upcoming quarter is $0.09 on revenues of $15.44 million, and for the current fiscal year, it is $0.17 on revenues of $62.15 million [7] Industry Outlook - The Financial - Miscellaneous Services industry, to which Sachem Capital belongs, is currently in the top 28% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry performance can significantly impact individual stock performance [5][8]