Monitor whether the company's recent acquisitions and mezzanine loans can reverse the declining earnings trend in 2026. The maintained dividend and strong balance sheet provide stability, but investors should watch for improvements in core profitability metrics.
Price Chart
Executive Summary
Sila Realty Trust reported mixed results for 2025, with declining GAAP net income and AFFO per share year-over-year despite growth in Cash NOI and a strong acquisition pipeline. Full-year net income dropped 22.5% to $33.1 million ($0.60/share) from $42.7 million ($0.75/share), while AFFO decreased 7.8% to $120.9 million ($2.18/share). The company maintained its dividend at $1.60 annualized and held a solid balance sheet with $481.3 million in liquidity and a 3.9x net debt to EBITDAre ratio.
Key Financial Metrics
Key Facts
- GAAP net income for 2025 was $33.1 million ($0.60/share), down from $42.7 million ($0.75/share) in 2024
- AFFO for 2025 was $120.9 million ($2.18/share), down from $131.1 million ($2.31/share) in 2024
- Cash NOI increased 0.8% to $169.9 million in 2025 from $168.6 million in 2024
- Company acquired six healthcare properties for $148.9 million and funded $17.5 million in mezzanine loans
- Dividend maintained at $0.40 per quarter ($1.60 annualized) with 72.6% AFFO payout ratio
- Balance sheet strength with $481.3 million liquidity and 3.9x net debt to EBITDAre ratio
Financial Impact
Revenue increased 5.7% to $197.5 million, but net income declined 22.5% to $33.1 million. AFFO per share decreased 5.6% to $2.18.
Segment Breakdown
| Segment |
|---|
| Inpatient Rehabilitation Facility |
| Medical Outpatient Building |
| Surgical and Specialty Facilities |
Risk Factors
- Continuing decline in net income and AFFO per share despite revenue growth
- Potential for further earnings compression if acquisition integration underperforms
- Dependence on healthcare sector which faces regulatory and reimbursement risks
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001567925-26-000005 |
| Exhibit: exhibi3.htm | 0001567925-26-000005 |
| Document: cik0001567925-20260224.htm | 0001567925-26-000005 |
| Document: 0001567925-26-000005-index-headers.html | 0001567925-26-000005 |
| Document: 0001567925-26-000005-index.html | 0001567925-26-000005 |
| Document: 0001567925-26-000005.txt | 0001567925-26-000005 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 13, 2026 11w ago | 15-12G | — | awaiting T+5 | — | — |
Jul 1, 2026 13w ago | 25-NSE | $30.37 awaiting T+5 | awaiting T+5 | — | $86.50 (+184.82%) |
Jun 17, 2026 15w ago | DEFA14A | $30.30 $30.35 | ▲ +0.17% | ▲ +1.83% | $86.50 (+185.48%) |
Jun 17, 2026 15w ago | 8-K | $30.30 $30.35 | ▲ +0.17% | ▲ +1.83% | $86.50 (+185.48%) |
Jun 11, 2026 16w ago | Institutional Cluster | $30.27 $30.29 | ▲ +0.07% | ▼ −0.37% | $86.50 (+185.76%) |
May 22, 2026 19w ago | DEFM14A | $30.21 $30.23 | ▲ +0.07% | ▼ −1.59% | $86.50 (+186.33%) |
May 7, 2026 21w ago | 8-K | $30.58 $30.56 | ▼ −0.07% | ▼ −1.53% | $86.50 (+182.86%) |
May 5, 2026 21w ago | PREM14A | $30.58 $30.57 | ▼ −0.03% | ▼ −1.16% | $86.50 (+182.86%) |
Apr 20, 2026 23w ago | DEFA14A | $30.40 $30.42 | ▲ +0.07% | ▼ −0.85% | $86.50 (+184.54%) |
Apr 20, 2026 23w ago | 8-K | $30.40 $30.42 | ▲ +0.07% | ▼ −0.85% | $86.50 (+184.54%) |
US Market Status
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