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Mar 31, 2024
Sachem Capital Q1 2024 Earnings Report
Sachem Capital's financial performance for Q1 2024 was announced, marked by a 17.0% increase in revenues, reaching $17.2 million.
Key Takeaways
Sachem Capital Corp. reported a 17.0% increase in total revenue to $17.2 million for the quarter ended March 31, 2024, compared to $14.7 million for the same period in 2023. Net income attributable to common shareholders was $3.6 million, or $0.08 per share, down from $4.2 million, or $0.10 per share, for the three months ended March 31, 2023.
Total revenue increased by 17.0% to $17.2 million compared to the same quarter last year.
Net income attributable to common shareholders was $3.6 million, or $0.08 per share.
Total assets remained relatively consistent at $626.5 million.
The company paid a quarterly dividend of $0.11 per share on April 16, 2024.
Forward Guidance
The Company remains focused on the repayment of $23.7 million principal amount of unsecured unsubordinated notes due June 30, 2024 and $34.5 million principal amount of unsecured unsubordinated notes due December 30, 2024. The Company intends to repay these notes either by refinancing them or with a combination of drawdowns on its existing credit facilities, current cash on hand and principal repayments of its mortgage loans.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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