BRANFORD, Conn. – Sachem Capital (NYSE:) Corp. (NYSE: SACH) has appointed Nicholas M. Marcello as its interim chief financial officer, effective immediately. John Villano, CPA, will continue as CEO while handing over interim chief financial officer responsibilities to Marcello.
Marcello has served in various roles at Sachem Capital, most recently as Vice President of Finance and Operations. His expanded responsibilities as interim treasurer will include oversight of financial and capital markets activities, portfolio management, investment strategy, foreclosures, restructurings, legal affairs and human resources.
Prior to joining Sachem, Marcello’s experience included serving as Vice President, Assistant Financial Controller at Waypoint Real Estate Investments from 2017 to 2020. . Marcello’s academic background includes a bachelor’s degree from Providence College and an MBA and master’s degree in accounting from Northeastern University.
Chief Executive John Villano is confident in Marcelo’s abilities, citing his strong financial acumen and valuable contributions to the company. Villano expects Marcello’s extensive experience in finance, accounting and real estate will continue to benefit the company.
sachem capital corp. . Operates as a mortgage REIT engaged in the origination, underwriting, financing, servicing and management of a portfolio of loans secured by first mortgages on real estate. The company primarily provides short-term loans to real estate investors for property acquisition, renovation, development, restoration or improvement, using a conservative loan-to-value ratio as its primary underwriting criterion. These loans are secured by residential or commercial real estate and are often personally guaranteed by the borrower’s principal. In addition to its lending activities, Sachem Capital engages in opportunistic real estate purchasing activities.
This announcement is based on a press release from Sachem Capital Corp.
In other recent news, Sachem Capital Corp. has experienced a period of significant growth despite market challenges. The company reported revenue growth of 25.5% to $65.6 million and net income attributable to common shareholders of approximately $12.1 million, or $0.27 per share. In light of these financial results, Oppenheimer revised his outlook on Sachem Capital, lowering his price target to $4.50 from the previous $5.00 while maintaining an outperform rating on the stock. The decision was influenced by Sachem Capital’s first-quarter financial results and the company’s earnings per share forecast for 2024 and 2025.
Analysts at Oppenheimer said those estimates are conservative and Sachem Capital could beat them if company management continues to be cautious about new lending opportunities and refinancing its debt maturing in 2024. It has strong performance, with cash and cash equivalents of US$50.4 million and total debt of US$377.7 million. These recent developments underscore the company’s resilience in the face of market uncertainty and its potential for continued growth.
Investment Professional Insights
Sachem Capital Corp. (NYSE: SACH) welcomes Nicholas M. Marcello as interim financial officer as the company’s financial health and market position remain a focus for investors. Here are some insights based on live data and InvestingPro Tips that may be of value to stakeholders:
InvestingPro Data highlighted Sachem Capital’s solid financial metrics as of the first quarter of 2024. The company’s revenue in the past 12 months was $30.73 million. Although the revenue growth rate declined slightly -4.15%, the quarterly revenue growth rate showed positive growth of 8.87%.
In addition, Sachem Capital has a gross profit margin of up to 100% and an operating profit margin of 55.22%, showing efficient management and strong profit potential. This is further supported by a high dividend yield of 14.43%, which is especially noteworthy for income-focused investors.
Two of Sachem Capital’s standout InvestingPro Tips include the company’s ability to pay out substantial dividends to shareholders, consistent with its observed high dividend yield. Additionally, it’s worth noting that the company’s share price has experienced considerable volatility, with a three-month total return of -18.08%. This could represent an opportunity for investors with a risk appetite and an eye on dividend income.
For a more complete analysis, there are other InvestingPro Tips that can help you gain a deeper understanding of Sachem Capital’s financial health and forecasts. For example, analysts predict that the company will be profitable this year, and it has been profitable over the last twelve months. Additionally, the company’s liquid assets exceed its short-term debt, providing a cushion for financial stability.
Investors interested in Sachem Capital’s detailed financial outlook and investment potential can find further tips at https://www.investing.com/pro/SACH. To use these insights to enhance your investing strategy, consider using the coupon code PRONEWS24 Subscribe to Pro and Pro+ on an annual or two-year basis to get an additional 10% discount and unlock more valuable information.
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