Sachem Capital Corp. (SACH)
XASE:SACH
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Sachem Capital
(NYSE MKT:SACH)
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Rating:49Neutral
Price Target:
$1.00
▼(-1.96% Downside)
Action:Reiterated
Date:06/06/26
The score is driven primarily by mixed financial performance (recent return to losses and declining revenue despite positive but uneven cash flow) and a weak technical trend (trading below major moving averages). The earnings-call catalyst (industrial REIT transformation) adds potential upside, but substantial governance, leverage, dilution, and execution risks keep the overall outlook balanced; valuation is supported by a very high yield but undermined by negative earnings.
Positive Factors
Creation of a scaled industrial REIT with recurring lease cash flows
The IRG contribution creates a materially larger, lease-driven platform with scale and diversified industrial assets. Scale and contractual lease cash flows tend to produce more predictable operating income, support portfolio diversification, and improve long-term financing access versus Sachem's prior small mortgage-REIT profile.
Negative Factors
Concentrated economic and voting control by IRG
IRG's concentrated economic stake and majority voting power limit minority shareholder influence and raise governance and related-party risk. Strategic decisions, fee arrangements, or capital allocation choices could favor IRG's interests, reducing protections and optionality for public Sachem/IRGT minority holders.
Read all positive and negative factors
Positive Factors
Negative Factors
Creation of a scaled industrial REIT with recurring lease cash flows
The IRG contribution creates a materially larger, lease-driven platform with scale and diversified industrial assets. Scale and contractual lease cash flows tend to produce more predictable operating income, support portfolio diversification, and improve long-term financing access versus Sachem's prior small mortgage-REIT profile.
Read all positive factors
Sachem Capital (SACH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$46.73M
Dividend Yield19.8%
Average Volume (3M)801.75K
Price to Earnings (P/E)―
Beta (1Y)0.60
Revenue Growth49.86%
EPS Growth89.23%
CountryUS
Employees28
SectorReal Estate
Sector Strength53
IndustryREIT - Mortgage
Share Statistics
EPS (TTM)-0.11
Shares Outstanding47,955,647
10 Day Avg. Volume337,618
30 Day Avg. Volume801,746
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)0.28
Price to Sales (P/S)1.04
P/FCF Ratio19.51
Enterprise Value/Market Cap7.10
Enterprise Value/Revenue7.42
Enterprise Value/Gross Profit17.88
Enterprise Value/Ebitda51.52
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)0.1
Revenue Forecast (FY)$38.07M
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 makes money primarily through the economics of its real estate loan portfolio. Its key revenue stream is interest income earned on the principal balance of mortgage loans it originates and holds, typically structured as short-durati...
Sachem Capital Earnings Call Summary
Earnings Call Date:May 18, 2026
(Q1-2026)
| Next Earnings Date:Aug 17, 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
42
Neutral
Balance Sheet
50
Neutral
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 44.74M | 47.06M | 57.50M | 29.97M | 30.62M | 20.00M |
| Gross Profit | 18.56M | 46.01M | 35.16M | 29.97M | 30.62M | 20.00M |
| EBITDA | 6.44M | 32.22M | -11.35M | 266.33K | 106.41K | 83.53K |
| Net Income | -673.00K | 6.31M | -39.57M | 15.90M | 20.91M | 13.32M |
Balance Sheet | ||||||
| Total Assets | 473.27M | 460.05M | 491.98M | 620.89M | 565.66M | 417.96M |
| Cash, Cash Equivalents and Short-Term Investments | 12.36M | 11.86M | 19.58M | 12.60M | 48.29M | 102.57M |
| Total Debt | 298.29M | 277.84M | 268.19M | 345.89M | 284.39M | 194.46M |
| Total Liabilities | 307.66M | 285.11M | 310.32M | 390.82M | 347.95M | 237.88M |
| Stockholders Equity | 165.61M | 174.94M | 181.65M | 230.08M | 217.71M | 180.08M |
Cash Flow | ||||||
| Free Cash Flow | 2.82M | 2.50M | 12.81M | 21.86M | 11.57M | 26.98M |
| Operating Cash Flow | 3.31M | 2.66M | 12.89M | 21.86M | 13.15M | 27.81M |
| Investing Cash Flow | 7.10M | 29.35M | 79.91M | -72.49M | -159.54M | -166.00M |
| Financing Cash Flow | -23.25M | -39.15M | -87.33M | 39.52M | 128.16M | 160.72M |
Sachem Capital Technical Analysis
Negative
1.02
Price Trends
1.08
Negative
1.03
Negative
1.01
Negative
Market Momentum
-0.04
Positive
36.99
Neutral
2.22
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 1.02 is below the 20-day moving average (MA) of 1.11, below the 50-day MA of 1.08, and above the 200-day MA of 1.01, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 36.99 is Neutral, neither overbought nor oversold. The STOCH value of 2.22 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | $50.63M | 9.97 | 11.59% | 9.28% | -9.89% | -8.65% | |
69 Neutral | $184.84M | 11.90 | 5.14% | 13.82% | -7.31% | -22.36% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
58 Neutral | $87.44M | 6.12 | 6.09% | 21.65% | -7.99% | ― | |
49 Neutral | $46.73M | -65.99 | -0.39% | 19.80% | 49.86% | 89.23% | |
49 Neutral | $54.01M | -26.77 | -0.90% | 23.03% | -28.61% | -164.74% | |
46 Neutral | $67.57M | -1.84 | -6.46% | 7.97% | -23.52% | 64.81% |
* Real Estate Sector Average
SACH
Sachem Capital
0.94
-0.02
-1.57%
LOAN
Manhattan Bridge Capital
4.37
-0.41
-8.54%
SEVN
Seven Hills Realty Trust
8.12
-2.20
-21.29%
LFT
Lument Finance Trust
1.03
-1.18
-53.44%
CHMI
Cherry Hill Mortgage
2.36
-0.10
-4.26%
GPMT
Granite Point Mortgage
1.41
-0.79
-36.03%
Sachem Capital Corporate Events
Dividends
Sachem Capital Declares Quarterly Common and Preferred Dividends
Positive
Jun 4, 2026
On June 4, 2026, Sachem Capital Corp. announced that its board of directors declared a quarterly dividend of $0.01 per common share, payable on June 30, 2026 to shareholders of record as of June 15, 2026. The move outlines the company’s late...
Business Operations and StrategyM&A TransactionsStock Split
Sachem Capital to Transform into IRG Industrial REIT
Positive
May 18, 2026
On May 17, 2026, Sachem Capital agreed a strategic contribution deal with Industrial Realty Group Global under which IRG will contribute 98 industrial properties valued at about $2.9 billion into a new operating partnership controlled by Sachem. I...
Business Operations and StrategyDividendsFinancial DisclosuresPrivate Placements and Financing
Sachem Capital Reports 2025 Results, Highlights Stabilization Efforts
Positive
Mar 18, 2026
Sachem Capital Corp., a mortgage REIT specializing in short-term, first-lien real estate loans to investors, reported its full-year 2025 results on March 12, 2026, highlighting a strategy centered on conservative underwriting and balance-sheet dis...
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.