SACH - Sachem Capital: Stock Gives Back Recent Gains After Reporting Earnings
2024-04-01 15:00:54 ET
Summary
- Sachem Capital's financial results for 2023 caused SACH stock to drop 17% and erase previous gains.
- The company's loan policy has become even tighter, limiting new loans to 1-year terms with the option to extend.
- Sachem's foreclosure rate has almost doubled in the last year, indicating potential future defaults and possible cuts in dividends.
- The company's exposure to the commercial real estate market remains high.
Sachem Capital Corp. ( SACH ) just announced its financial results for the full year of 2023. This caused the stock to drop -17% during the day and give back virtually all of its gains from the pre-earnings run up. The stock is now down to where it was a month ago....
Sachem Capital: Stock Gives Back Recent Gains After Reporting Earnings