Sachem Capital Corp. 6.00% Notes Due 2026
SCCD
New York Stock Exchange American24.68
USD
-0.11
- -
Sachem Capital Corp. 6.00% Notes Due 2026
SCCD
(New York Stock Exchange American)
Recent
price
24.68
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- Sachem Capital Corp., a Connecticut-based mortgage real estate investment trust founded in 2010 and headquartered in Branford, specializes in originating, underwriting, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real property; these include secured, non-banking loans typically lasting 12 to 36 months, often termed hard money loans, provided to real estate investors and developers for property acquisition, renovation, rehabilitation, development, or improvement across residential, commercial, land, and mixed-use categories primarily on the Eastern Seaboard of the United States, spanning states such as Connecticut, Florida, New York, and others including Georgia, Massachusetts, Maryland, North Carolina, New Jersey, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, California, Maine, and Virginia; the company also pursues opportunistic real estate purchases and offers loan products encompassing refinance, acquisition/bridge financing, specialty finance, and construction loans, with conservative underwriting focused on loan-to-value ratios not exceeding 70% and loan-to-cost ratios up to 85%, supported by personal guarantees, cross-collateralization, and in-house asset management via subsidiary Urbane Capital LLC acquired in 2022. Recent developments include the closing of a $100 million senior secured notes offering due June 2030 through a subsidiary in June 2025, enhancing liquidity amid a portfolio of 226 loans totaling $457 million net as of September 30, 2024; expansion of strategic partnership investments with Shem Creek Capital, reaching $51.6 million across seven limited liability companies by September 2024 including a new 20% membership interest acquisition that month, generating double-digit yields; appointment of Jeffery C. Walraven as permanent Chief Financial Officer effective September 1, 2025 following his interim role since December 2024; maintenance of a $0.05 per common share dividend alongside total assets of $556 million as of September 30, 2024; and ongoing portfolio management addressing non-performing loans through divestitures and credit loss provisions under CECL standards, with net loans held for investment at $364.5 million reported in Q2 2025.