Financial Performance - Net income for Q3 2025 was $11.6 million, or $0.21 per diluted share, compared to $11.9 million, or $0.21 per diluted share in Q3 2024[8] - Total revenues for Q3 2025 reached $49,848,000, a 5.9% increase from $46,118,000 in Q3 2024[27] - Net income attributable to common stockholders for Q3 2025 was $11,609,000, compared to $11,935,000 in Q3 2024, reflecting a decrease of 2.7%[27] - Funds From Operations (FFO) for Q3 2025 was $30,976,000, slightly up from $30,568,000 in Q3 2024, indicating a year-over-year increase of 1.3%[31] - Core Funds From Operations (Core FFO) for Q3 2025 was $31,154,000, compared to $30,798,000 in Q3 2024, representing a 1.2% increase[31] - Adjusted Funds From Operations (AFFO) for Q3 2025 was $31,081,000, down from $31,714,000 in Q3 2024, showing a decrease of 2.0%[31] - The company reported a comprehensive income attributable to common stockholders of $10,743,000 for Q3 2025, compared to $565,000 in Q3 2024[27] Cash Flow and Liquidity - Cash NOI for Q3 2025 was $42.8 million, an increase from $40.8 million in Q3 2024, driven by acquisitions and same-store Cash NOI growth of 1.2%[9] - The company's liquidity position totaled approximately $476.7 million, including $27.7 million in cash and cash equivalents[16] - Cash and cash equivalents decreased to $27,709,000 from $39,844,000, a decline of 30.5%[26] - Cash NOI for the nine months ended September 30, 2025, was $125,897,000, compared to $127,630,000 for the same period in 2024, reflecting a decline of 1.4%[38] Property and Portfolio Management - As of September 30, 2025, the portfolio consisted of 140 properties with a weighted average remaining lease term of approximately 9.7 years[14] - The percentage of rentable square feet leased was 99.1%, with a slight decrease of 0.1 percentage points due to lease expiration[15] - There were 131 same store properties for the quarters ended September 30, 2025, and 2024, indicating stability in the property portfolio[41] - Same store cash NOI for the three months ended September 30, 2025, was $40,633,000, up 1.2% from $40,134,000 in 2024[38] Acquisitions and Development - The company acquired two medical outpatient buildings for $16.3 million and two inpatient rehabilitation facilities for $70.5 million during the quarter[6] - The company expects to place a property under development into service in December 2025, which will impact future rental revenue[39] Debt and Interest - Total principal debt outstanding was $676.0 million, with a weighted average interest rate of 4.8%[17] - Total liabilities increased to $757,826,000 as of September 30, 2025, compared to $603,889,000 at the end of 2024, marking a rise of 25.5%[26] - Interest expense for the three months ended September 30, 2025, was $8,470,000, compared to $5,468,000 in 2024, reflecting an increase of 55.0%[38] Dividends - The company declared a quarterly cash dividend of $0.40 per share, representing an annualized amount of $1.60 per share[19] - The dividend payout to AFFO ratio was 71.0% for the quarter ended September 30, 2025[19] Expenses - General and administrative expenses for the three months ended September 30, 2025, were $4,541,000, a decrease from $4,800,000 in 2024[38]
Sila Realty Trust, Inc.(SILA) - 2025 Q3 - Quarterly Results