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Sachem Capital(SACH) - 2021 Q1 - Earnings Call Transcript
2021-05-18 16:40
Financial Data and Key Metrics Changes - The company achieved a 33% increase in quarterly revenue, reaching approximately $5.7 million compared to $4.3 million in the same period last year [8][22] - Interest income on the loan portfolio increased by 56% year-over-year [8][22] - Net income for the first quarter was approximately $2.2 million, maintaining the same per-share earnings of $0.10 as the previous year [25] - Total assets increased by $1.6 million from $226.7 million to $228.4 million [28] - Total liabilities decreased to $143.8 million from $145.8 million at the end of the previous year [29] - Shareholders' equity increased by approximately $3.7 million to $84.6 million [30] Business Line Data and Key Metrics Changes - Loan repayments in Q1 2021 were $30.5 million, while new loan fundings were $31.7 million, both record highs for any quarter in the company's history [9] - Origination fee income remained relatively flat, increasing by approximately 1% [22] - Late and processing fees increased by 17%, and other income rose by 61% [22] Market Data and Key Metrics Changes - Nationally, active listings decreased by 53%, and median list home prices increased by 17% year-over-year [12] - In Connecticut, days on market decreased between 43% and 52%, with median list prices increasing by 2% to 18% depending on the county [12] Company Strategy and Development Direction - The company aims to grow its loan portfolio while maintaining strict underwriting guidelines to protect capital and provide attractive risk-adjusted returns [12][33] - Expansion beyond Connecticut is a priority, with a focus on Florida and Texas, targeting larger value commercial loans [18][34] - The company is exploring various financing alternatives to lower its cost of capital [41] Management's Comments on Operating Environment and Future Outlook - The management expressed optimism about the economic climate in the Northeast and the favorable competitive landscape due to restrictive lending criteria from traditional lenders [16][17] - The company believes its quick turnaround and flexibility with borrowers provide a competitive advantage [17] - Despite challenges from COVID-19, the company remains confident in its long-term growth prospects [26] Other Important Information - The company raised approximately $56 million of unsecured unsubordinated notes in 2020, which has provided liquidity for growth [13] - A dividend of $0.12 per share was declared and paid to shareholders [36] - The company has a low interest line of credit with Wells Fargo, secured by its portfolio of short-term securities [14] Q&A Session Summary Question: What is the target leverage ratio for the second half of 2021? - The company currently has $200 million in assets versus $100 million in debt, maintaining a conservative approach to growth and avoiding over-leveraging [45][46] Question: Should the evaluation of ways to lower the cost of capital be expected in the second half of the year? - The company is in the process of evaluating opportunities and expects to make an announcement in approximately 45 days [49] Question: Can you provide an update on the expansion in Florida and Texas? - The company has approximately $15 million to $20 million in Florida, focusing on the Cape Coral area, and is cautiously exploring opportunities in Austin [53][55]
Sachem Capital(SACH) - 2021 Q1 - Quarterly Report
2021-05-14 10:03
Part I FINANCIAL INFORMATION [Financial Statements (unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20%28unaudited%29) For the first quarter ended March 31, 2021, Sachem Capital Corp. reported total assets of $228.4 million, a slight increase from year-end 2020, with total revenue growing to $5.7 million from $4.3 million year-over-year, driven by higher interest income, while net income remained flat at $2.2 million, or $0.10 per share, due to a significant increase in interest and operating expenses, and cash flow from operations was $2.8 million, while investing activities used $2.1 million [Balance Sheets](index=4&type=section&id=Balance%20Sheets) As of March 31, 2021, total assets increased slightly to $228.4 million from $226.7 million at December 31, 2020, primarily driven by an increase in mortgages receivable to $156.8 million, while total liabilities decreased to $143.8 million, mainly due to the payment of accrued dividends, and shareholders' equity grew to $84.6 million from $80.9 million Balance Sheet Highlights (unaudited) | Account | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $18,345,654 | $19,408,028 | | Mortgages receivable | $156,771,704 | $155,616,300 | | Total assets | $228,432,452 | $226,670,184 | | **Liabilities & Equity** | | | | Notes payable (net) | $109,884,797 | $109,640,692 | | Line of credit | $28,160,988 | $28,055,648 | | Total liabilities | $143,790,733 | $145,750,644 | | Total shareholders' equity | $84,641,719 | $80,919,540 | [Statements of Comprehensive Income](index=5&type=section&id=Statements%20of%20Comprehensive%20Income) For the three months ended March 31, 2021, total revenue increased by 32.5% to $5.7 million, compared to $4.3 million in the same period of 2020, primarily due to a 56.2% rise in interest income from loans, but net income slightly decreased to $2.18 million from $2.24 million, as operating costs, particularly interest expenses, rose by 70.2%, while basic and diluted EPS remained unchanged at $0.10 Q1 2021 vs Q1 2020 Income Statement (unaudited) | Metric | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :--- | :--- | :--- | | Total revenue | $5,712,181 | $4,312,302 | | Interest income from loans | $4,531,232 | $2,901,406 | | Total operating costs and expenses | $3,529,080 | $2,073,688 | | Interest and amortization | $2,464,755 | $1,149,953 | | Net income | $2,183,101 | $2,238,614 | | Basic and Diluted EPS | $0.10 | $0.10 | [Statements of Changes in Shareholders' Equity](index=6&type=section&id=Statements%20of%20Changes%20in%20Shareholders%27%20Equity) Shareholders' equity increased from $80.9 million at the beginning of the year to $84.6 million as of March 31, 2021, driven by $2.2 million in net income and $1.5 million from the sale of common stock through an at-the-market (ATM) offering - The company sold 303,407 common shares through its ATM program, raising approximately **$1.54 million** in capital during Q1 2021[18](index=18&type=chunk) - Net income of **$2.18 million** for the period contributed to the increase in total shareholders' equity[18](index=18&type=chunk) [Statements of Cash Flow](index=7&type=section&id=Statements%20of%20Cash%20Flow) For the first quarter of 2021, net cash provided by operating activities was $2.8 million, an increase from $1.7 million in Q1 2020, while net cash used for investing activities was significantly lower at $2.1 million compared to $16.2 million in the prior-year period, reflecting a better balance between loan disbursements ($31.7 million) and collections ($30.5 million), and financing activities used $1.8 million, resulting in a net decrease in cash of $1.1 million Cash Flow Summary (unaudited) | Cash Flow Activity | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $2,789,056 | $1,727,381 | | Net Cash Used for Investing Activities | ($2,071,118) | ($16,221,817) | | Net Cash Used for Financing Activities | ($1,780,312) | ($2,721,479) | | Net Decrease in Cash | ($1,062,374) | ($17,215,915) | | Cash and Cash Equivalents - End of Period | $18,345,654 | $1,626,022 | [Notes to Financial Statements (unaudited)](index=8&type=section&id=Notes%20to%20Financial%20Statements%20%28unaudited%29) The notes detail the company's business as a 'hard money' lender, its accounting policies including its REIT status, and specifics on its financial accounts, with key details including a mortgage portfolio of $156.8 million with interest rates from 5.0% to 13.0%, and outstanding debt of $109.9 million in unsecured notes, and the company also disclosed its response to COVID-19, which included a temporary forbearance program and stricter lending criteria in 2020, which have since been normalized, with subsequent events including further ATM stock sales and executive compensation changes - The company specializes in short-term (one to three years), secured, non-banking loans ('hard money' loans) to real estate investors, primarily in Connecticut[23](index=23&type=chunk) - The company believes it qualifies as a Real Estate Investment Trust (REIT) and elected this status for its 2017 tax return, requiring it to distribute at least **90%** of its taxable income annually[38](index=38&type=chunk) Mortgage Loan Portfolio Details (as of March 31, 2021) | Metric | Value | | :--- | :--- | | Total Outstanding Principal | $156,771,704 | | Number of Loans | 479 | | Stated Interest Rate Range | 5.0% to 13.0% | | Loans in Foreclosure | 12 | | Aggregate Balance in Foreclosure | ~$2.6 million | Outstanding Notes Payable (as of March 31, 2021) | Series | Principal Amount | Interest Rate | Maturity Date | | :--- | :--- | :--- | :--- | | June 2024 Notes | $23,663,000 | 7.125% | June 30, 2024 | | December 2024 Notes | $34,500,000 | 6.875% | December 30, 2024 | | 2025 Notes | $56,363,750 | 7.75% | December 30, 2024 (Note: Text says 2025 Notes but maturity is Dec 30, 2024) | - In response to COVID-19 in early 2020, the company implemented a temporary forbearance program and a moratorium on new loan funding, which were canceled by the third quarter of 2020 as economic conditions stabilized[77](index=77&type=chunk) - Subsequent to quarter-end, between April 1 and May 4, 2021, the company sold **2,045,336** common shares in ATM offerings, realizing net proceeds of **$10.5 million**[74](index=74&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the 32.5% Q1 revenue growth to expanded lending activities, but a 70.2% increase in operating costs, mainly from interest on increased debt, caused a slight dip in net income, with the primary challenge being deploying its $54.7 million in cash and investments efficiently to grow the loan portfolio and offset interest expenses, and the company faces increased competition and yield compression but aims to counter this by funding larger loans and expanding geographically, while its capital structure is 63% debt, primarily fixed-rate notes, which provides operational flexibility, and the company continues to operate as a REIT - Compared to Q1 2020, revenue increased **32.5%**, but net income decreased **2.5%** due to a **70.2%** increase in operating costs, primarily interest expense from higher debt levels[84](index=84&type=chunk) - The company's primary objective is to grow its loan portfolio by focusing on larger-value commercial loans and expanding its geographic footprint beyond Connecticut, with an emphasis on Florida and Texas[85](index=85&type=chunk)[99](index=99&type=chunk) - The company faces challenges from increased competition from private equity and hedge funds, leading to borrower-friendly terms and yield compression. The portfolio yield was **11.73%** in Q1 2021, down from **12.16%** in Q1 2020[90](index=90&type=chunk)[91](index=91&type=chunk)[103](index=103&type=chunk) - As of March 31, 2021, the company's capital structure was **63.0%** debt and **37.0%** equity. The weighted average interest rate on its **$114.5 million** of unsecured notes is **7.36%**[96](index=96&type=chunk)[101](index=101&type=chunk) [Results of Operations](index=31&type=section&id=Results%20of%20Operations) Comparing Q1 2021 to Q1 2020, total revenue rose by $1.4 million (32.5%), driven by a $1.6 million increase in interest income, while total operating costs increased by approximately $1.4 million (70.2%), with interest and amortization of deferred financing costs accounting for the entire increase, leading to net income remaining flat at $2.2 million for both periods Q1 2021 vs Q1 2020 Performance | Metric | Q1 2021 | Q1 2020 | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | ~$5.7M | ~$4.3M | +32.5% | | - Interest Income | ~$4.5M | ~$2.9M | +56.2% | | Total Operating Costs | ~$3.5M | ~$2.1M | +70.2% | | - Interest & Amortization | ~$2.5M | ~$1.1M | +114.3% | | Net Income | ~$2.2M | ~$2.2M | ~0% | [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) At March 31, 2021, the company held $54.7 million in cash, cash equivalents, and investment securities, with total assets growing by $1.8 million during the quarter to $228.4 million, while total liabilities decreased by $2.0 million to $143.8 million, and shareholders' equity increased by $3.7 million to $84.6 million, bolstered by stock sales and net income, and the company believes current cash and anticipated cash flows are sufficient to fund operations for the next 12 months - Cash, cash equivalents, and investment securities totaled approximately **$54.7 million** at March 31, 2021[124](index=124&type=chunk) - Shareholders' equity increased by **$3.7 million** in Q1 2021, primarily due to **$1.5 million** from stock sales and **$2.2 million** in net income[128](index=128&type=chunk) - Net cash from operating activities was **$2.8 million**, while investing activities used **$2.1 million** and financing activities used **$1.8 million**[129](index=129&type=chunk)[130](index=130&type=chunk)[131](index=131&type=chunk) [Contractual Obligations](index=37&type=section&id=Contractual%20Obligations) As of March 31, 2021, the company had total contractual obligations of $23.5 million, with the vast majority, $23.49 million, consisting of unfunded loan commitments due within one year, and a minor portion, approximately $8,000, relating to operating lease obligations Contractual Obligations as of March 31, 2021 | Obligation Type | Total | Less than 1 year | 1 – 3 years | | :--- | :--- | :--- | :--- | | Operating lease obligation | $8,031 | $2,888 | $5,143 | | Unfunded loan commitments | $23,489,412 | $23,489,412 | $0 | | **Total** | **$23,497,443** | **$23,492,300** | **$5,143** | [Quantitative and Qualitative Disclosures about Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company is a smaller reporting company and, as such, is not required to provide the information for this item - As a smaller reporting company, Sachem Capital Corp. is not required to provide quantitative and qualitative disclosures about market risk[143](index=143&type=chunk) [Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures as of March 31, 2021, and concluded they were effective, with no material changes to the company's internal control over financial reporting during the quarter - Management concluded that as of March 31, 2021, the company's disclosure controls and procedures are effective[144](index=144&type=chunk) - No changes in internal control over financial reporting occurred during the fiscal quarter that materially affected, or are reasonably likely to materially affect, internal controls[145](index=145&type=chunk) Part II OTHER INFORMATION [Exhibits](index=38&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including documents related to corporate governance, debt indentures, employment agreements, and required certifications under the Sarbanes-Oxley Act, as well as XBRL interactive data files - The exhibits include the CEO and CFO certifications required under Section 302 and 906 of the Sarbanes-Oxley Act[148](index=148&type=chunk) - Key filed documents include indentures for the company's various note series (**7.125%** due 2024, **6.875%** due 2024, **7.75%** due 2025) and employment agreements for executive officers[148](index=148&type=chunk) [Signatures](index=41&type=section&id=SIGNATURES) The report is duly signed and authorized on May 14, 2021, by John L. Villano, in his capacity as President, Chief Executive Officer, and Chief Financial Officer - The Form 10-Q was signed on May 14, 2021, by John L. Villano, President, CEO, and CFO[156](index=156&type=chunk)
Sachem Capital(SACH) - 2020 Q4 - Annual Report
2021-03-31 12:37
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ⌧ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ◻ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-37997 SACHEM CAPITAL CORP. (Exact name of registrant as specified in its charter) New York 81-3467779 State or othe ...
Sachem Capital(SACH) - 2020 Q3 - Quarterly Report
2020-11-06 21:06
Mortgage Loan Portfolio - As of September 30, 2020, the yield on the mortgage loan portfolio was 12.28%, down from 12.66% for the same period in 2019[109]. - The company had 480 mortgage loans receivable, with 18 loans restructured under a forbearance program totaling an outstanding principal balance of $5.1 million and $146,000 in deferred interest[93]. - The company initiated a forbearance program in Q2 2020, deferring approximately $200,000 of interest on 23 loans with an aggregate principal amount of $6.5 million[97]. - The loan-to-value ratio for new loans was temporarily reduced to 50% during the pandemic but was increased back to 70% as of July 1, 2020[98]. - The company expanded its loan portfolio in Florida from less than $1 million to $9.7 million by September 30, 2020[101]. - Approximately 78.1% of the mortgage loans in the portfolio had a term of one year or less as of September 30, 2020[111]. Financial Performance - Total revenue for Q3 2020 was approximately $4.3 million, representing an increase of approximately $900,000 or 26.4% compared to Q3 2019[128]. - Interest income for Q3 2020 was approximately $3.5 million, up from approximately $2.4 million in Q3 2019, while net origination fees decreased to approximately $393,000 from $497,000[128]. - Total operating costs and expenses for Q3 2020 were approximately $2.1 million, an increase of approximately $800,000 or 61.5% compared to Q3 2019, primarily due to increased interest expense[129]. - Net income for Q3 2020 was approximately $2.055 million, or $0.10 per share, compared to $2.139 million, or $0.10 per share for Q3 2019[132]. - For the nine months ended September 30, 2020, total revenue was approximately $12.9 million, an increase of approximately $3.1 million or 32% compared to the same period in 2019[133]. - Net income for the nine months ended September 30, 2020 was approximately $6.7 million, or $0.30 per share, compared to approximately $5.3 million, or $0.30 per share for the same period in 2019[138]. Cash and Investments - The company had approximately $33.1 million in cash and investments as of September 30, 2020, a decrease from $34.8 million at December 31, 2019[139]. - Net cash provided by operating activities for the nine months ended September 30, 2020 was approximately $7.4 million, a slight increase from $7.3 million in the same period of 2019[140]. - Net cash used for investing activities increased significantly to approximately $41.4 million in 2020 from $14.5 million in 2019, primarily due to higher principal disbursements for mortgages receivable[141]. - Net cash provided by financing activities rose to approximately $20.5 million in 2020 compared to $18.1 million in 2019, driven by proceeds from the Wells Fargo line of credit and the sale of fixed rate notes[142]. - The company anticipates that current cash and investment balances, along with projected cash flows from operations, will be sufficient to fund operations for the next 12 months[143]. - Long-term cash needs will be funded through proceeds from the sale of debt and/or equity securities, cash on hand, investments, and operating cash flows[144]. Debt and Capital Structure - The company’s indebtedness was approximately 50.4% of total capital at September 30, 2020, with expectations for this percentage to increase[114]. - As of September 30, 2020, the company's capital structure consisted of 49.6% equity and 50.4% debt, with total indebtedness of approximately $85.6 million[115]. - The company issued an additional $14 million of September 2025 Notes in October 2020, increasing its overall debt[115]. - In October 2020, the company sold an additional $14 million aggregate principal amount of September 2025 Notes, with an option for underwriters to purchase an additional $2.1 million[147]. - The company is not involved in any off-balance sheet transactions that could affect liquidity or capital resource availability[149]. Dividends and Shareholder Distributions - The company intends to pay regular quarterly distributions to common shareholders amounting to not less than 90% of its REIT taxable income[146]. - A dividend of $0.12 per share, totaling approximately $2.65 million, was paid to shareholders on November 4, 2020[148]. Market Competition - The company faced increased competition from private equity funds and hedge funds, although competition decreased due to COVID-19[104]. - The average yield on the portfolio is expected to continue compressing due to increased competition and borrower demands[105]. - The company is focusing on expanding its geographic footprint beyond Connecticut to Florida and Texas, while also funding larger loans[107]. Obligations - As of September 30, 2020, total contractual obligations amounted to approximately $13.35 million, including operating lease obligations and unfunded construction loans[151].
Sachem Capital(SACH) - 2020 Q2 - Earnings Call Transcript
2020-08-11 17:15
Sachem Capital Corp (NYSE:SACH) Q2 2020 Earnings Conference Call August 11, 2020 8:00 AM ET Company Participants David Waldman - IR John Villano - CEO and CFO Conference Call Participants Rommel Dionisio - Aegis Capital Jim Altschul - Aviation Advisors Operator Good day, ladies and gentlemen, and welcome to the Sachem Capital Second Quarter 2020 Conference Call. All lines have been placed on a listen-only mode, and the floor will be open for your questions and comments following the presentation. At this ti ...
Sachem Capital(SACH) - 2020 Q2 - Quarterly Report
2020-08-10 18:02
Financial Position - As of June 30, 2020, the company had approximately $35 million in liquid assets and funded about $15 million in new mortgages within the first seven weeks of the year [91]. - The total indebtedness of the company at June 30, 2020, was approximately $59 million, including two series of notes totaling approximately $58.2 million [106]. - Cash and investments totaled approximately $20.6 million at June 30, 2020, down from $34.8 million at December 31, 2019 [133]. - The company anticipates that current cash balances and anticipated cash flows from operations will be sufficient to fund operations for the next 12 months [139]. - Total contractual obligations as of June 30, 2020, amount to $8,192,357, including $9,530 for operating lease obligations and $8,182,827 for unfunded construction loans [146]. - The operating lease obligation is broken down into $2,672 due within one year and $6,858 due within 1-3 years [146]. - The company has no off-balance sheet transactions or arrangements that could affect liquidity or capital resources [144]. - There are no unfunded loan commitments reported as of June 30, 2020 [145]. Mortgage Portfolio - The company has 477 mortgages receivable, with 23 COVID-19 forbearance requests totaling $6.5 million and approximately $200,000 in deferred interest [92]. - Approximately 44% of the mortgage loans in the company's portfolio had a term of one year or less as of June 30, 2020 [101]. - As of June 30, 2020, 13 mortgage loans were subject to enforcement or collection proceedings, totaling approximately $3.6 million, which is about 3.2% of the aggregate mortgage loan portfolio [102]. - The company revised its loan-to-value ratio policy, initially reducing it to 50% during the pandemic, but reverted back to 70% for new loan fundings as of July 2020 [99]. Revenue and Income - Total revenue for Q2 2020 was approximately $4.3 million, an increase of 41% from $3.1 million in Q2 2019 [119]. - Net income for Q2 2020 was approximately $2.3 million, or $0.10 per share, compared to $1.1 million, or $0.06 per share in Q2 2019 [124]. - Total revenue for the six months ended June 30, 2020 was approximately $8.6 million, a 34% increase from $6.4 million in the same period of 2019 [125]. - Net income for the six months ended June 30, 2020 was approximately $4.5 million, or $0.20 per share, compared to $3.2 million, or $0.19 per share in the same period of 2019 [132]. Operating Costs - Total operating costs and expenses for Q2 2020 were approximately $2.0 million, a 6% increase from $1.9 million in Q2 2019 [121]. - Total operating costs and expenses for the six months ended June 30, 2020 were approximately $4.1 million, an increase of 28% from $3.2 million in the same period of 2019 [127]. Future Plans and Strategy - The company plans to expand its geographic footprint beyond Connecticut to Florida and Texas, and is looking to fund larger loans than in the past [98]. - The company expects interest rate compression to continue due to increased competition and borrower demands, impacting its net income [100]. - The company is required to distribute at least 90% of its taxable income to maintain its REIT status, which may impact its capital structure and growth strategy [90]. Dividends and Distributions - The company intends to pay regular quarterly distributions to common shareholders amounting to no less than 90% of its REIT taxable income [141]. - A dividend of $0.12 per share was declared on July 21, 2020, totaling $2,654,076, payable on August 7, 2020 [142]. Employment and Management - The company entered into an employment agreement with Peter J. Cuozzo as Executive Vice President-Chief Operating Officer, with a base salary of $250,000 per year [143]. Market Risk - The company is not required to provide quantitative and qualitative disclosures about market risk as a smaller reporting company [149].
Sachem Capital(SACH) - 2020 Q1 - Earnings Call Transcript
2020-05-12 17:33
Start Time: 08:00 January 1, 0000 8:54 AM ET Sachem Capital Corp. (NYSE:SACH) Q1 2020 Earnings Conference Call May 12, 2020, 08:00 AM ET Company Participants John Villano - Chairman, CEO, CFO, President and Treasurer David Waldman - IR Conference Call Participants Ben Zucker - Aegis Capital Christopher Nolan - Ladenburg Thalmann Jim Altschul - Aviation Advisory Services Paul Drees - Market Edge Operator Good day, ladies and gentlemen, and welcome to your Sachem Capital First Quarter Conference Call. All lin ...
Sachem Capital(SACH) - 2020 Q1 - Quarterly Report
2020-05-08 10:05
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________________________________ to _________________________________________ Commission File Number: 001-37997 SACHEM CAPITAL CORP. (Exact name of re ...
Sachem Capital(SACH) - 2019 Q4 - Annual Report
2020-03-30 11:19
TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-37997 SACHEM CAPITAL CORP. (Exact name of registrant as specified in its charter) State or other jurisdiction of in ...
Sachem Capital(SACH) - 2019 Q3 - Earnings Call Transcript
2019-11-19 19:48
Sachem Capital Corp. (NYSE:SACH) Q3 2019 Results Conference Call November 15, 2019 11:00 AM ET Company Participants David Waldman - IR John Villano - Co-CEO & CFO Conference Call Participants Ben Zucker - Aegis Capital Jim Altschul - Aviation Advisory Service Operator Good day, ladies and gentlemen, and welcome to the Sachem Capital Third Quarter 2019 conference call. All lines have been placed on a listen-only mode, and the floor will be open for questions and comments following the presentation. [Operator ...