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Sachem Capital Corp . (NYSE American:NYSE:SACH), currently trading at $1.30 with a market capitalization of $61.5 million, reported that shareholders approved all proposals presented at the company’s 2025 Annual Meeting of Shareholders held Wednesday, according to a press release statement based on the company’s SEC filing. InvestingPro analysis indicates the stock is currently undervalued based on its Fair Value calculations.
Shareholders elected five incumbent directors—John L. Villano, Leslie Bernhard, Arthur L. Goldberg, Brian A. Prinz, and Jeffery C. Walraven—to serve until the next annual meeting and until their successors are elected and qualified. The votes in favor ranged from 13,504,384 to 14,284,407, with votes withheld ranging from 5,555,312 to 6,335,335. There were 13,328,590 broker non-votes for each director.
The appointment of Baker Tilly US, LLP as Sachem Capital’s independent auditors for the 2024 fiscal year received advisory approval, with 31,697,112 votes in favor, 991,945 against, and 479,252 abstentions.
Shareholders also approved, on a non-binding advisory basis, the executive compensation resolution, with 11,498,626 votes for, 7,391,329 against, and 949,764 abstentions. There were 13,328,590 broker non-votes.
Additionally, the Sachem Capital Corp. 2025 Omnibus Incentive Plan was approved, receiving 11,713,373 votes for, 6,161,454 against, and 1,964,892 abstentions, with 13,328,590 broker non-votes.
Sachem Capital Corp. is a real estate investment trust incorporated in New York and headquartered in Branford, Connecticut. The company’s securities, including its common shares and various notes, are listed on the NYSE American exchange under the tickers SACH, SCCC, SCCD, SCCE, SCCF, SCCG, and SACHPRA.
This article is based solely on information disclosed in a press release statement and the company’s SEC filing.
In other recent news, Sachem Capital Corp reported its first-quarter 2025 earnings, revealing a revenue of $11.4 million, which exceeded the forecast of $10.6 million. Despite this revenue beat, the company experienced a 31.9% decrease from the same period last year. The company’s net income stood at $900,000, while a net loss attributable to common shareholders was reported at $200,000, or 0 cents per share. Total (EPA:TTEF) operating expenses decreased by 16.9% compared to the previous year, reflecting a strategic focus on cost management. JMP Securities reiterated its Market Perform rating on Sachem Capital, noting the company’s efforts to address nonaccrual loans and its investments in Urbane New Haven and Shem Creek. The firm highlighted that Sachem Capital’s shares trade at 0.48 times price-to-book value, with a 15.6% dividend yield. Despite trading at a discount to peers, JMP views the shares as reasonably valued due to the company’s smaller market capitalization and limited trading liquidity. Additionally, Sachem Capital continues to focus on resolving nonperforming loans and expanding its real estate development projects.
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