Sila Realty Trust Announces Fourth Quarter and Year Ended 2025 Results

TAMPA, Fla.--(BUSINESS WIRE)--Sila Realty Trust, Inc. (NYSE: SILA) (“Sila”, the “Company”, “we”, or “us”), a net lease real estate investment trust (“REIT”) with a strategic focus on investing in the growing and resilient healthcare sector, today announced operating results for the fourth quarter and year ended December 31, 2025. Highlights for the quarter ended December 31, 2025: Net income of $5.0 million, or $0.09 per diluted share Cash net operating income*, or Cash NOI, of $44.0 million Adjusted funds from operations*, or AFFO, of $30.4 million, or $0.55 per diluted share Declared and paid cash distributions per share of $0.40 for the quarter Highlights for the year ended December 31, 2025: Net income of $33.1 million, or $0.60 per diluted share Cash NOI of $169.9 million AFFO of $120.9 million, or $2.18 per diluted share Declared and paid cash distributions per share of $1.60 for the year Acquired six operating healthcare properties, comprising approximately 241,000 rentable square feet for an aggregate purchase price of $148.9 million Fully funded two mezzanine loans, or the Mezzanine Loans, for the development of an inpatient rehabilitation facility and a behavioral healthcare facility in Lynchburg, Virginia. The Mezzanine Loans have total loan amounts of $12.5 million and $5.0 million, respectively, and each have a maturity date of November 5, 2029 Subsequent Events On February 23, 2026, the Board authorized a quarterly cash dividend of $0.40 per share of common stock payable on March 18, 2026, to the Company's stockholders of record as of the close of business on March 6, 2026 On January 15, 2026, the Company acquired one inpatient rehabilitation facility for $43.1 million in Oklahoma City, Oklahoma On January 29, 2026, the Company sold the Saginaw Healthcare Facility for $14.5 million, generating net proceeds of $14.3 million, after transaction costs Management Commentary "The Sila team's prowess in allocating capital was on full display in 2025," stated Michael A. Seton, President and Chief Executive Officer of the Company. "We successfully acquired six high quality healthcare properties for approximately $149 million, all of which play a critical role in the social infrastructure of their respective patient communities. "Our portfolio's performance in 2025 demonstrates the strength of Sila's proactive asset management capabilities, evidenced by successful rent collections, high tenant lease renewal rates, and new capital allocations for existing property expansions that have clear tenant operational needs. Our high EBITDARM rent coverage ratios and a long weighted average remaining lease term of 10-years provide us with continued confidence in the strength, sustainability, and predictability of our income streams. "As we look forward to 2026 and beyond, our liquidity of almost $500 million and low net debt* to annualized EBITDAre* ratio of 3.9x, position Sila to take advantage of high quality opportunities as they may arise, while remaining thoughtful and disciplined in our approach to investing in necessity based healthcare real estate." *Some of the financial measures throughout this press release are non-GAAP measures. Refer to the Non-GAAP Financial Measures Reconciliation tables at the end of this press release for additional information and reconciliations to the most directly comparable GAAP measure. Financial Results Net Income Our GAAP net income for the fourth quarter of 2025 was $5.0 million, or $0.09 per diluted share, compared to $11.1 million, or $0.20 per diluted share, for the fourth quarter of 2024. Our GAAP net income for the year ended December 31, 2025 was $33.1 million, or $0.60 per diluted share, compared to $42.7 million, or $0.75 per diluted share for the year ended December 31, 2024. Cash NOI Cash NOI was $44.0 million for the fourth quarter of 2025, as compared to $41.0 million for the fourth quarter of 2024. The increase in Cash NOI is primarily the result of acquisitions and same-store Cash NOI growth of 0.7%. Cash NOI was $169.9 million for the year ended December 31, 2025, as compared to $168.6 million for the year ended December 31, 2024. The increase in Cash NOI is primarily due to acquisitions and same-store Cash NOI growth of 0.9%. The increase was partially offset by the receipt of a lease termination fee and the severance fee received from GenesisCare USA, Inc. and its affiliates in the first quarter of 2024, the Stoughton Healthcare Facility as a result of the Steward Health Care System LLC, or Steward, bankruptcy, and property dispositions. AFFO AFFO was $30.4 million, or $0.55 per diluted share, during the fourth quarter of 2025, compared to $30.2 million, or $0.54 per diluted share, during the fourth quarter of 2024. AFFO for the year ended December 31, 2025 was $120.9 million, or $2.18 per diluted share, compared to $131.1 million, or $2.31 per diluted share, for the year ended December 31, 2024. Real Estate Portfolio Highlights Investment Activity During the quarter ended December 31, 2025, the Company placed in service two properties that underwent redevelopments during the year. One was the renovation of a 44,746 rentable square foot inpatient rehabilitation facility in San Antonio, Texas, and the other was a renovation of a 12,163 rentable square foot medical outpatient building in El Segundo, California. Portfolio As of December 31, 2025, Sila's well diversified real estate portfolio consisted of 140 properties comprising approximately 5.3 million rentable square feet. The weighted average remaining lease term was 10.0 years with 22.1% of annualized base rent maturing in the next five years and a weighted average fixed rent escalation rate of 2.1%, excluding leases tied to the consumer price index. As of December 31, 2025, the percentage of rentable square feet leased was 98.7%. There was a 0.4 percentage point decrease in the percentage of square feet leased when compared to the third quarter of 2025, primarily attributable to the expiration of a lease consisting of 15,600 rentable square feet. Balance Sheet and Capital Markets Activities Sila had a strong balance sheet as of December 31, 2025, with its liquidity position totaling approximately $481.3 million, consisting of $32.3 million in cash and cash equivalents and $449.0 million of availability under its unsecured credit facilities. Total principal debt outstanding under the unsecured credit facilities as of December 31, 2025, was $676.0 million. Of the $676.0 million, $525.0 million was fixed through 10 interest rate swap agreements. As of December 31, 2025, the Company's weighted average interest rate on the total principal debt outstanding was 4.7%, including the impact of the interest rate swap agreements. As of December 31, 2025, net debt to enterprise value was approximately 33.3%. Distributions The Company's dividend payout to AFFO ratio was 72.6% for the quarter ended December 31, 2025. On February 23, 2026, the Board approved and authorized a quarterly cash dividend of $0.40 per share of common stock payable on March 18, 2026, to the Company's stockholders of record as of the close of business on March 6, 2026. The quarterly cash dividend of $0.40 per share represents an annualized amount of $1.60 per share. Conference Call and Webcast A conference call and audio webcast for investors and analysts will be held on Wednesday, February 25, 2026, at 11:00 a.m. Eastern Time to discuss our fourth quarter and year ended 2025 operating results and to answer questions. The live and archived webcast can be accessed on the "Events" page of the Company's website at investors.silarealtytrust.com or by direct link at https://events.q4inc.com/attendee/316667282. The archived webcast will be available for 12 months following the call. About Sila Realty Trust, Inc. Sila Realty Trust, Inc., headquartered in Tampa, Florida, is a net lease real estate investment trust with a strategic focus on investing in the growing and resilient healthcare sector. The Company invests in high quality healthcare facilities along the continuum of care in the pursuit of generating predictable, durable, and growing income streams. Sila's portfolio comprises high quality tenants in geographically diverse facilities, which are positioned to capitalize on the dynamic delivery of healthcare to patients. As of December 31, 2025, the Company owned 140 real estate properties and three undeveloped land parcels, including the Stoughton Healthcare Facility which has been taken out of service and is being demolished, located in 67 markets across the United States. For more information, please visit the Company's website at www.silarealtytrust.com. Forward-Looking StatementsRead the full story here

Sila Realty Trust Announces Fourth Quarter and Year Ended 2025 Results

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