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Sep 30, 2020
Sachem Capital Q3 2020 Earnings Report
Sachem Capital reported a revenue increase of 26% for Q3 2020.
Key Takeaways
Sachem Capital Corp. announced its financial results for the third quarter ended September 30, 2020, showcasing a 26% increase in revenue compared to the same period last year, driven by improvements in the fix-and-flip market and expansion into new markets like Florida.
Revenue increased by 26% compared to the same quarter last year.
Interest income was $3.5 million.
Net income remained consistent at approximately $2.1 million, or $0.10 per share.
The company completed a public offering for gross proceeds of $14 million to fund new real estate loans.
Sachem Capital
Sachem Capital
Forward Guidance
Sachem Capital is optimistic about the rest of the year and prospects for 2021, focusing on prudently deploying capital, maintaining underwriting discipline, and a conservative loan-to-value ratio.
Positive Outlook
- Loan pipeline is more robust than ever.
- Recently completed a public offering for gross proceeds of $14 million to fund new real estate loans.
- Focused on prudently deploying capital.
- Maintaining disciplined underwriting.
- Maintaining a conservative loan-to-value ratio.