Sachem Capital Corp. 6.00% Notes due 2026 (SCCD)

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at SCCD first as a credit instrument, not as common stock. The issuer is a real estate company, and the note carries a 6.00% coupon due in 2026. The filed record is uneven. In fiscal 2023, period ended 2023-12-31, net income was $15.9M, or $0.27 diluted EPS. In fiscal 2024, period ended 2024-12-31, revenue was $57.5M versus $64.7M in fiscal 2023, and net income was a loss of $39.6M, or -$0.93 diluted EPS. Fiscal 2025, period ended 2025-12-31, showed net income of $6.3M, or $0.04 diluted EPS, but revenue was not reported in the provided figures. More recently, fiscal Q1 2026 ended 2026-03-31 had a net loss of $6.1M and diluted EPS of -$0.15, and fiscal Q2 2026 ended 2026-06-30 had a net loss of $5.4M and diluted EPS of -$0.14. That is a fragile turnaround, and the FairStock Lynch category is TURNAROUND because the company returned to profit after a loss within the last three years. I see no durable moat in these numbers; real estate finance is capital-intensive and cyclical. On price, the note closed at $24.88 on 2026-10-16, within a 52-week range of $23.62 to $25.18, so it is near the upper end and not priced as distressed. The 6.00% coupon is modest compensation for uneven earnings. Financial-health metrics are not supplied, so I cannot verify coverage or collateral. Graham would demand a margin of safety; here the data do not provide enough evidence to call it cheap.

In plain English: It is a 6.00% note due in 2026 from a real estate company. The issuer's recent results are uneven: it made a profit in fiscal 2025 but lost money in the first half of 2026. At $24.88, the note trades near the top of its 52-week range, so the price looks close to face value rather than clearly cheap.

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Data as of 2026-10-16 close · note generated 2026-10-20 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer