Sachem Capital Q4 2023 Earnings Report
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.
Sachem Capital
Sachem Capital
Forward Guidance
The company remains focused on controlling business aspects, protecting capital, and increasing shareholder value amidst ongoing macroeconomic challenges.