Sachem Capital Corp
AMEX:SACH
Sachem Capital Corp
Sachem Capital Corp. is a real estate finance company, which engages in the provision of real estate investment trust services. The company is headquartered in Branford, Connecticut and currently employs 19 full-time employees. The company went IPO on 2017-02-10. The firm specializes in 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. The Company’s lending programs fix and flip loans, real estate loans, bridge loans, new construction loans and distressed/foreclosure loans. The Company’s primary objective is to grow its loan portfolio while protecting and preserving capital in a manner that provides for attractive risk-adjusted returns to shareholders over the long term through dividends. The firm intends to achieve the objective by continuing to focus on selectively originating, managing and servicing a portfolio of mortgage real estate loans designed to generate risk-adjusted returns across a variety of market conditions and economic cycles.
Sachem Capital Corp. is a real estate finance company, which engages in the provision of real estate investment trust services. The company is headquartered in Branford, Connecticut and currently employs 19 full-time employees. The company went IPO on 2017-02-10. The firm specializes in 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. The Company’s lending programs fix and flip loans, real estate loans, bridge loans, new construction loans and distressed/foreclosure loans. The Company’s primary objective is to grow its loan portfolio while protecting and preserving capital in a manner that provides for attractive risk-adjusted returns to shareholders over the long term through dividends. The firm intends to achieve the objective by continuing to focus on selectively originating, managing and servicing a portfolio of mortgage real estate loans designed to generate risk-adjusted returns across a variety of market conditions and economic cycles.
Revenue: Third quarter revenue was $12 million, up 11.4% sequentially from Q2 2025, but down from $14.8 million in Q3 2024.
Credit Costs: Provision for credit losses declined significantly to $0.8 million from $8.1 million a year ago as reserves stepped down.
Nonperforming Loans: Nonperforming loan balances fell to $104.1 million gross ($93 million net), down both quarter-over-quarter and year-over-year.
Liquidity Actions: Company repaid and delisted $56.3 million of 7.75% notes, increasing financial flexibility and extending debt maturities.
Book Value: Book value per share was $2.47, a 2.8% decrease from June 30, 2025, mainly due to dividends exceeding net income.
Naples Exposure: Naples loans represent about $50 million (13.4%) of the mortgage portfolio and remain a substantial portion of NPLs; a key mediation event is scheduled for November.
Dividend Policy: Dividends were paid in September; future dividends will continue to be reviewed quarterly by the Board.
