Company: SACH
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001682220-25-000070
Chunk: 84

Company: Sachem Capital Corp.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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0.3 %— %Impairment loss on real estate owned185 320 (135)(42.2)%1.5 %2.2 %Loss (gain) on sale of real estate owned and property and equipment, net312 (30)342 (1140.0)%2.6 %(0.2)%Other expenses447 339 108 31.9 %3.7 %2.3 %Total operating expenses12,367 19,607 (7,240)(36.9)%103.1 %132.6 %Operating (loss) income (367)(4,822)4,455 92.4 %(3.1)%(32.6)%Other income, netGain (loss) on equity securities1,364 (229)1,593 695.6 %11.4 %(1.5)%Total other income, net1,364 (229)1,593 695.6 %11.4 %(1.5)%Net income (loss)997 (5,051)6,048 119.7 %8.3 %(34.2)%Preferred stock dividends(1,117)(1,095)(22)2.0 %(9.3)%(7.4)%Net (loss) income attributable to common shareholders$(120)$(6,146)$6,026 98.0 %(1.0)%(41.6)%Basic and diluted (loss) earnings per common share$0.00 $(0.13)$0.13 98.0 %

Total revenues

The change in revenue was primarily due to the cumulative effect of materially lower net new origination over the last twelve months, resulting in a reduction in the unpaid principal balance of loans held for investment, in addition to a currently elevated amount of nonperforming loans and real estate owned. Utilizing the average performing loans held for investment balance for the three months ended September 30, 2025 of $268.1 million, the effective interest rate on loans held for investment was 12.4% for the three months ended September 30, 2025. Comparatively, utilizing the average performing loans held for investment balance for the three months ended September 30, 2024 of $361.7 million, the effective interest rate on loans held for investment was 12.6% for the three months