IIPR vs REFI vs SACH vs O vs STAG

For growth investors, STAG Industrial, Inc.

(STAG) is the stronger pick with 10. 1% revenue growth year-over-year, versus -100. 0% for Chicago Atlantic Real Estate Finance, Inc. (REFI). Chicago Atlantic Real Estate Finance, Inc. (REFI) offers the better valuation at 7. 3x trailing P/E (6. 8x forward), making it the more compelling value choice. Analysts rate Chicago Atlantic Real Estate Finance, Inc. (REFI) a "Buy" — based on 6 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Chicago Atlantic Real Estate Finance, Inc.

(REFI) is the cheapest at 7. 3x versus Realty Income Corporation at 54. 3x. On forward P/E, Chicago Atlantic Real Estate Finance, Inc. is actually cheaper at 6. 8x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Innovative Industrial Properties, Inc. wins at 3. 75x versus Realty Income Corporation's 73. 34x.

Over the past 5 years, STAG Industrial, Inc.

(STAG) delivered a total return of +29. 7%, compared to -44. 5% for Innovative Industrial Properties, Inc. (IIPR). Over 10 years, the gap is even starker: IIPR returned +455. 8% versus SACH's -6. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Realty Income Corporation (O) is the lower-risk stock at 0.

09β versus Innovative Industrial Properties, Inc. 's 0. 92β — meaning IIPR is approximately 914% more volatile than O relative to the S&P 500. On balance sheet safety, Chicago Atlantic Real Estate Finance, Inc. (REFI) carries a lower debt/equity ratio of 16% versus 159% for Sachem Capital Corp. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), STAG Industrial, Inc.

(STAG) is pulling ahead at 10. 1% versus -100. 0% for Chicago Atlantic Real Estate Finance, Inc. (REFI). On earnings-per-share growth, the picture is similar: Sachem Capital Corp. grew EPS 104. 2% year-over-year, compared to -28. 8% for Innovative Industrial Properties, Inc.. Over a 3-year CAGR, O leads at 19. 8% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Chicago Atlantic Real Estate Finance, Inc.

(REFI) is the more profitable company, earning 871. 6% net margin versus 13. 4% for Sachem Capital Corp. — meaning it keeps 871. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: SACH leads at 58. 8% versus 0. 0% for REFI. At the gross margin level — before operating expenses — REFI leads at 100. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, Innovative Industrial Properties, Inc. (IIPR) is the more undervalued stock at a PEG of 3. 75x versus Realty Income Corporation's 73. 34x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Chicago Atlantic Real Estate Finance, Inc. (REFI) trades at 6. 8x forward P/E versus 38. 2x for Realty Income Corporation — 31. 4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for STAG: 19. 6% to $45. 50.

In this comparison, REFI (100.

0% yield), SACH (19. 1% yield), IIPR (12. 6% yield), STAG (4. 0% yield) pay a dividend. O does not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, STAG Industrial, Inc.

(STAG) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 55), 4. 0% yield, +153. 7% 10Y return). Both have compounded well over 10 years (STAG: +153. 7%, REFI: +28. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: IIPR is a small-cap deep-value stock; REFI is a small-cap deep-value stock; SACH is a small-cap income-oriented stock; O is a mid-cap quality compounder stock; STAG is a small-cap income-oriented stock. IIPR, REFI, SACH, STAG pay a dividend while O does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.