---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-042619"
form_type: "8-K"
ticker: "SACH"
cik: "0001682220"
company_name: "Sachem Capital Corp."
filed_at: "2024-04-02T23:59:59+00:00"
generated_at: "2026-06-04T03:38:03.462485+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Sachem Capital reports FY2023 revenue up 26% to $65.6M but net income falls 29% to $12.1M; declares $0.11 dividend

## Summary
- Total revenue $65.6M (+25.5% YoY); interest income $49.3M vs $42.6M.
- Net income attributable to common shareholders $12.1M ($0.27 EPS) vs $17.2M ($0.46 EPS), down 29.4% and 40.1%.
- Provision for credit losses $6.4M (non-cash), over 70% from commercial real estate collateral decline.
- Quarterly dividend of $0.11 per share declared, payable April 16, 2024 to holders of record April 9.
- Total assets $625.5M (+11% YoY); notes payable $23.7M due June 2024; expects sufficient working capital.

## SEC filing metadata
- accession: 0001104659-24-042619
- form_type: 8-K
- ticker: SACH
- cik: 0001682220
- company_name: Sachem Capital Corp.
- filed_at: 2024-04-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1682220/000110465924042619/0001104659-24-042619-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1682220/000110465924042619/tm2410333d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-042619
- JSON: https://secwatch.observer/filing/0001104659-24-042619.json
- Plain text: https://secwatch.observer/filing/0001104659-24-042619.txt

## Key facts
- Earnings Releases
  Sachem Capital Corp. reported year ended December 31, 2023 results: revenue $65.6 million, net income approximately $12.1 million, or $0.27 per share, EPS $0.27 per share.
  - Period: year ended December 31, 2023
  - Revenue: $65.6 million
  - Net income: approximately $12.1 million, or $0.27 per share
  - EPS: $0.27 per share
  - Result: reported results
  source text: and will continue our efforts to protect our capital and increase shareholder value.” Results of operations for year ended December 31, 2023 Total revenue increased 25.5% to $65.6 million, compared to $52.3 million for the year ended December 31, 2022. Revenue growth was due primarily to the growth in size of the company’s mortgage portfolio and increases in rates
  evidence_url: https://www.sec.gov/Archives/edgar/data/1682220/000110465924042619/0001104659-24-042619-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.