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Dec 31, 2023
Sachem Capital Q4 2023 Earnings Report
Sachem Capital reported increased revenues but earnings were impacted by rising interest rates and commercial real estate values.
Key Takeaways
Sachem Capital Corp. reported a 25.5% increase in revenue for the year ended December 31, 2023, reaching $65.6 million. However, net income attributable to common shareholders decreased by 29.4% to $12.1 million, and earnings per share decreased by 40.1% to $0.27, due to a difficult macroeconomic environment including rising interest rates and weakness in commercial real estate.
Total revenue increased by 25.5% to $65.6 million compared to the previous year.
Net income attributable to common shareholders decreased by 29.4% to $12.1 million.
Earnings per share decreased by 40.1% to $0.27.
Total assets increased by almost 11% to $625.5 million.
Forward Guidance
The company remains focused on controlling business aspects, protecting capital, and increasing shareholder value amidst ongoing macroeconomic challenges.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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