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Sachem Capital
(SACH)
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Rating:47Neutral
Price Target:
$0.98
▲(9.55% Upside)
Action:Reiterated
Date:09/06/26
The score is held down primarily by weak financial performance (TTM revenue decline, net losses, and negative operating/free cash flow), which outweighs the supportive technical setup and the high dividend yield. Dividend declarations are positive, but recent fundamentals suggest elevated risk around sustainability and stability.
Positive Factors
Asset-backed lending model
Sachem’s lending is secured by real property, giving its core assets tangible collateral and a defined underwriting framework. Its focus on transitional and construction-related borrowers also targets specialized financing needs, while origination, servicing, and resolution capabilities support control across the loan lifecycle.
Negative Factors
Revenue and earnings deterioration
The latest trailing period shows a material contraction in revenue and a return to losses after 2025 profitability. This volatility weakens confidence in recurring earnings power, reduces internal capacity to fund lending growth, and makes future distributions more dependent on portfolio performance and financing conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Asset-backed lending model
Sachem’s lending is secured by real property, giving its core assets tangible collateral and a defined underwriting framework. Its focus on transitional and construction-related borrowers also targets specialized financing needs, while origination, servicing, and resolution capabilities support control across the loan lifecycle.
Read all positive factors
Sachem Capital (SACH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$40.62M
Dividend Yield14.42%
Average Volume (3M)157.89K
Price to Earnings (P/E)―
Beta (1Y)0.44
Revenue Growth69.76%
EPS Growth71.12%
CountryUS
Employees27
SectorReal Estate
Sector Strength53
IndustryREIT - Mortgage
Share Statistics
EPS (TTM)-0.26
Shares Outstanding47,954,630
10 Day Avg. Volume140,073
30 Day Avg. Volume157,891
Financial Highlights & Ratios
PEG Ratio-0.25
Price to Book (P/B)0.28
Price to Sales (P/S)1.04
P/FCF Ratio19.51
Enterprise Value/Market Cap7.06
Enterprise Value/Revenue6.64
Enterprise Value/Gross Profit8.15
Enterprise Value/Ebitda52.88
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.22
Revenue Forecast (FY)$44.69M
Sachem Capital Business Overview & Revenue Model
Company Description
Sachem Capital Corp. functions as a specialized real estate finance entity. The company actively sources, underwrites, funds, services, and manages a portfolio of short-term loans, all secured by primary mortgage liens on real estate assets predom...
How the Company Makes Money
Sachem Capital primarily makes money from the spread and fees generated by its real estate lending activities. The core revenue stream is interest income earned on its loan portfolio (typically short-term, real-estate-secured loans), which accrues...
Sachem Capital Earnings Call Summary
Earnings Call Date:May 18, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Neutral
The call presents a strategically meaningful transaction that creates a large, lease-driven industrial REIT with multiple growth levers, experienced operators, and a path to improved capital markets positioning. However, material concerns remain around concentrated IRG ownership and voting control (94.1% economic interest and ~51% voting power), an initially high pro forma leverage (~8x), a dilutive reverse 20:1 stock split and limited immediate economic interest for existing Sachem shareholders (~5.9%). The combination of clear strategic upside and significant governance, leverage and execution risks results in a balanced view.Positive Updates
Creation of a Scaled Industrial REIT
Definitive contribution agreement to form IRG Realty Trust, Inc. (IRGT) — a publicly listed industrial REIT designed to be a scaled, lease-driven platform combining IRG's industrial portfolio with Sachem's capital solutions business.
Negative Updates
Concentrated Economic and Voting Control by IRG
IRG is expected to own approximately 94.1% of IRGT via newly created OP units and will receive Class B voting shares that initially provide ~51% of total voting power, resulting in concentrated control and potential governance influence over IRGT.
Read all updates
Q1-2026 Updates
Positive
Negative
Creation of a Scaled Industrial REIT
Definitive contribution agreement to form IRG Realty Trust, Inc. (IRGT) — a publicly listed industrial REIT designed to be a scaled, lease-driven platform combining IRG's industrial portfolio with Sachem's capital solutions business.
Read all positive updates
Company Guidance
Management guided that the contribution will create IRG Realty Trust (IRGT) as a UPREIT comprising 98 industrial properties with an implied enterprise value of $3.4 billion (based on 3/31/2026 values), pro forma ownership of ~94.1% by IRG and ~5.9% by existing Sachem shareholders, and Sachem stand‑alone common equity valued at $2.00 per share (premium to 30‑ and 90‑day VWAP); a 20:1 reverse split is expected (implying a post‑split reference price of ≈$40 assuming $2 at close), IRG will receive noneconomic Class B voting shares giving it ~51% voting power, and closing is targeted by year‑end 2026 subject to shareholder approval and customary conditions with Scotiabank arranging new credit facilities; pro forma metrics include Sachem’s ~$470 million of assets as of 3/31/2026, IRG’s platform of >200 properties totaling ~100 million sq ft and ~20% annual growth since 2015, a top‑10 tenant concentration of ≈30% of annualized base rent, anticipated leverage ~8x with a path to sub‑6x, IRGRA to manage operations with largely tenant‑reimbursable property costs, and multiple growth levers (lease‑up, mark‑to‑market rent, acquisitions and capital solutions) to drive recurring lease‑driven cash flow and NAV growth.Sachem Capital Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
56
Neutral
Cash Flow
29
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 43.22M | 47.06M | 57.50M | 29.97M | 30.62M | 20.00M |
| Gross Profit | 35.22M | 46.01M | 35.16M | 29.97M | 30.62M | 20.00M |
| EBITDA | 5.43M | 32.22M | -11.35M | 266.33K | 106.41K | 83.53K |
| Net Income | -7.94M | 6.31M | -39.57M | 15.90M | 20.91M | 13.32M |
Balance Sheet | ||||||
| Total Assets | 472.90M | 460.05M | 491.98M | 620.89M | 565.66M | 417.96M |
| Cash, Cash Equivalents and Short-Term Investments | 29.62M | 11.86M | 19.58M | 12.60M | 48.29M | 102.57M |
| Total Debt | 306.26M | 277.84M | 268.19M | 345.89M | 284.39M | 194.46M |
| Total Liabilities | 314.11M | 285.11M | 310.32M | 390.82M | 347.95M | 237.88M |
| Stockholders Equity | 158.79M | 174.94M | 181.65M | 230.08M | 217.71M | 180.08M |
Cash Flow | ||||||
| Free Cash Flow | -2.01M | 2.50M | 12.81M | 21.86M | 11.57M | 26.98M |
| Operating Cash Flow | -783.00K | 2.66M | 12.89M | 21.86M | 13.15M | 27.81M |
| Investing Cash Flow | 30.47M | 29.35M | 79.91M | -72.49M | -159.54M | -166.00M |
| Financing Cash Flow | -23.34M | -39.15M | -87.33M | 39.52M | 128.16M | 160.72M |
Sachem Capital Technical Analysis
Negative
0.89
Price Trends
0.87
Negative
0.92
Negative
0.96
Negative
Market Momentum
>-0.01
Positive
35.99
Neutral
8.12
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SACH, the sentiment is Negative. The current price of 0.89 is below the 20-day moving average (MA) of 0.91, above the 50-day MA of 0.87, and below the 200-day MA of 0.96, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 35.99 is Neutral, neither overbought nor oversold. The STOCH value of 8.12 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SACH.
Sachem Capital Risk Analysis
Sachem Capital disclosed 87 risk factors in its most recent earnings report. Sachem Capital reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Sachem Capital Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $38.73M | 7.99 | 11.02% | 13.32% | -12.38% | -13.43% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
61 Neutral | $156.56M | 10.31 | 3.78% | 16.15% | -2.38% | -35.43% | |
59 Neutral | $95.32M | 14.37 | 7.07% | 15.75% | -13.80% | ― | |
47 Neutral | $40.62M | -3.17 | -4.70% | 14.42% | 69.76% | 71.12% | |
47 Neutral | $28.77M | -0.29 | -15.12% | 12.16% | -25.30% | 5.00% | |
43 Neutral | $25.97M | -1.31 | -6.31% | 34.26% | -22.88% | -293.89% |
* Real Estate Sector Average
SACH
Sachem Capital
0.83
-0.16
-16.21%
LOAN
Manhattan Bridge Capital
3.34
-1.47
-30.59%
SEVN
Seven Hills Realty Trust
6.91
-2.02
-22.64%
LFT
Lument Finance Trust
4.67
-11.87
-71.76%
CHMI
Cherry Hill Mortgage
2.54
0.53
26.56%
GPMT
Granite Point Mortgage
5.76
-19.17
-76.90%
Sachem Capital Corporate Events
Dividends
Sachem Capital Declares Quarterly Common and Preferred Dividends
Positive
Sep 4, 2026
On September 4, 2026, Sachem Capital Corp., a mortgage REIT specializing in short‑term, secured loans to real estate investors, announced that its board of directors had authorized a quarterly dividend of $0.01 per common share. The common d...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.