Sila Realty Trust (SILA) Q4 2025 earnings summary

Executive summary

• Achieved first full year as a public company, added to major equity indices, and transitioned to a predominantly institutional shareholder base.

• Reported net income of $5.0 million for Q4 2025 and $33.1 million for the year, with rental revenue for 2025 at $196.3 million, up from $186.9 million in 2024.

• Acquired six healthcare facilities for $148.9 million and completed a $43.1 million post-year-end acquisition, expanding relationships with key operators.

• Portfolio expanded to 140 properties totaling 5.32 million rentable square feet, with a 98.7% leased rate and a weighted average remaining lease term of 10 years.

• Declared and paid $1.60 per share in annual dividends.

Financial highlights

• Cash NOI for 2025 was $169.9 million, up 0.8% year-over-year; same-store cash NOI grew 0.9%.

• FFO per share rose 3.6% to $2.16; AFFO per share declined 5.8% to $2.18, mainly due to higher interest expense.

• Q4 2025 Cash NOI was $44.0 million, up from $41.0 million in Q4 2024; AFFO for Q4 2025 was $30.4 million ($0.55 per share).

• EBITDAre for Q4 2025 was $38.9 million, compared to $33.9 million in Q4 2024.

• Portfolio-wide EBITDARM rent coverage improved to 5.9x from 5.3x year-over-year.

Outlook and guidance

• Positioned for continued disciplined capital allocation and growth, with $200 million in deployable debt capital and over $480 million in liquidity.

• Management highlighted strong leasing trends, high occupancy, and stable weighted average rent escalation at 2.1%.

• Anticipates stable acquisition volume in 2026, with potential for increased activity later in the year.