secwatch.observer — SEC 8-K summary
======================================

Issuer:     Sachem Capital Corp. (SACH)
CIK:        0001682220
Form:       8-K
Filed at:   2024-04-02T23:59:59+00:00
Accession:  0001104659-24-042619
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1682220/000110465924042619/0001104659-24-042619-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1682220/000110465924042619/tm2410333d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-042619

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer