Sachem Capital ( (SACH) ) just unveiled an update.
On March 20, 2025, Sachem Capital Corp. entered into a new $50 million revolving credit facility with Needham Bank, replacing its previous $65 million facility. This new agreement involves SN Holdings, a wholly-owned subsidiary, as the borrower, and includes provisions for asset liens and collateral requirements. The facility is set to expire on March 2, 2026, with a potential one-year extension. The company also reported its financial results for 2024, showing a decline in revenue to $57.5 million from $64.7 million in 2023, primarily due to fewer loan originations and reduced interest income. Operating costs increased significantly, leading to a net loss of $43.9 million for the year, compared to a net income of $12.1 million in 2023. Total assets decreased to $492 million, and shareholders’ equity fell to $181.7 million by year-end 2024.
More about Sachem Capital
Sachem Capital Corp. is a mortgage real estate investment trust (REIT) that specializes in originating, underwriting, funding, servicing, and managing a portfolio of loans secured by first mortgages on real property. The company offers short-term secured, nonbanking loans to real estate investors for the acquisition, renovation, development, rehabilitation, or improvement of properties. The loans are secured by a first mortgage lien on real estate and are personally guaranteed by the principal(s) of the borrower. Sachem Capital also engages in opportunistic real estate purchases apart from its lending activities.
YTD Price Performance: -11.54%
Average Trading Volume: 399,807
Technical Sentiment Signal: Buy
Current Market Cap: $54.01M
See more data about SACH stock on TipRanks’ Stock Analysis page.