Sila Realty Trust, Inc. · NYSE:SILA
Sila Realty Trust — Q4 2025 Earnings Presentation
26 slides from Sila Realty Trust's earnings presentation, Feb 25, 2026
Slide 1: Q4 2025 Quarterly Supplemental Information
Sila realty trust Q4 | 2025 QUARTERLY SUPPLEMENTAL INFORMATION SKILLFUL AND THOUGHTFUL INVESTING
Slide 2: Disclosures
Disclosures Q4 | 2025 Forward Looking Statements Certain statements contained herein, other than historical fact, may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as ame
Slide 3: Table of Contents
Q4 | 2025 Table of Contents Supplemental Information as of December 31, 2025 3 Quarterly Financial Summary 4 Financial Statistics and Ratios 5 Consolidated Balance Sheets 6 Consolidated Statements of Income 7 Reconciliations of Non-GAAP Measures - FFO, Core FFO, and AFFO 8 Reconciliations of Non-GAA
Slide 4: Quarterly Financial Summary
Quarterly Financial Summary Q4 | 2025 (dollars in thousands, except share data and per share amounts) The following tables summarize the Company's quarterly financial results and portfolio metrics. Three Months Ended Financial Results December 31, September 30, June 30, March 31, December 31, 2025 2
Slide 5: Financial Statistics and Ratios
Financial Statistics and Ratios Q4 | 2025 (dollars in thousands, except per share amounts) Three Months Ended Interest Coverage Ratio December 31, September 30, June 30, March 31, December 31, 2025 2025 2025 2025 2024 Interest expense $ 9,162 $ 8,470 $ 7,829 $ 7,325 $ 5,265 EBITDAre 38,942 39,475 37
Slide 6: Consolidated Balance Sheets
Consolidated Balance Sheets Q4 | 2025 (dollars in thousands, except share data) (Unaudited) December 31, December 31, 2025 2024 ASSETS Real estate: Land $ 171,848 $ 160,743 Buildings and improvements, less accumulated depreciation of $331,437 and $277,024, respectively 1,616,905 1,546,877 Total real
Slide 7: Consolidated Statements of Income
Consolidated Statements of Income Q4 | 2025 (dollars in thousands, except share data and per share amounts) (unaudited) Three Months Ended Year Ended December 31, December 31, 2025 2024 2025 2024 Revenue: Rental revenue $ 50,083 $ 46,545 $ 196,304 $ 186,856 Real estate related notes receivable inter
Slide 8: Reconciliations of Non-GAAP Measures - FFO, Core FFO and AFFO
Reconciliations of Non-GAAP Measures - FFO, Core FFO and AFFO Q4 | 2025 (dollars in thousands, except per share amounts) Three Months Ended Year Ended December 31, December 31, 2025 2024 2025 2024 Net income attributable to common stockholders 1,2 $ 5,015 $ 11,114 $ 33,120 $ 42,657 Adjustments: Depr
Slide 9: Reconciliations of Non-GAAP Measures - EBITDA and EBITDAre
Reconciliations of Non-GAAP Measures - EBITDA and EBITDAre Q4 | 2025 (dollars in thousands) Three Months Ended Year Ended December 31, December 31, 2025 2024 2025 2024 Net income attributable to common stockholders $ 5,015 $ 11,114 $ 33,120 $ 42,657 Adjustments: Interest expense1 9,162 5,265 32,786
Slide 10: Reconciliations of Non-GAAP Measures - Net Operating Income (NOI)
Reconciliations of Non-GAAP Measures - Net Operating Income (NOI) Q4 | 2025 (dollars in thousands) Three Months Ended Year Ended December 31, December 31, 2025 2024 2025 2024 Rental revenue 1,2 $ 50,083 $ 46,545 $ 196,304 $ 186,856 Rental expenses (5,567) (5,912) (23,804) (23,138) Net operating inco
Slide 11: Same Store Cash NOI and Leasing Trends
Same Store Cash NOI and Leasing Trends Q4 | 2025 50M 99.4% 99.3% 99.2% 99.0% 98.7% 100% Same Store Cash Net Operating Income 40M 90% End of Period Leased Rate 30M 80% 70% 20M $41.0 $41.2 $41.1 $41.2 $41.3 60% 10M 50% 0M 40% 4Q24 1Q25 2Q25 3Q25 4Q25 132 Properties1 (1) Each period's results reflect o
Slide 12: Debt
Debt Q4 | 2025 Unsecured Credit Facility Key Covenants Required Actual Ratio of total indebtedness to total gross asset value ≤ 60.0% 27.6 % Ratio of secured indebtedness to total gross asset value ≤ 30.0% 0.0 % Ratio of adjusted EBITDA to fixed charges ≥ 1.50x 4.9 x Ratio of adjusted NOI from unenc
Slide 13: Acquisitions and Dispositions
Acquisitions and Dispositions Q4 | 2025 2025 Acquisitions Rentable Square Acquisition Price1 Date Acquired Property Feet Market State (in thousands) 03/04/2025 Knoxville Healthcare Facility 70,005 Knoxville TN $ 35,320 04/16/2025 Dover Healthcare Facility2 42,140 Dover DE 26,818 08/01/2025 Southlake
Slide 14: Property Map
Property Map Q4 | 2025 (as of December 31, 2025) Property Diversification Single/Multi-Tenant Concentration 35.3% 64.3% 8.5% 10.1% Annualized Annualized Properties3 Properties3,4 Base Rent2 34.8% Base Rent2 17.8% 29.9% 17.9% 91.5% 89.9% Medical Outpatient Building Single Tenant Inpatient Rehabilitat
Slide 15: Real Estate Diversification
Real Estate Diversification Q4 | 2025 Total Statistics As of December 31, 2025 2024 Rentable square feet 5,322,724 5,262,631 Number of properties1 140 135 Average annualized base rent per leased square foot $33.86 $32.72 Weighted average remaining lease term 10.0 years 9.7 years Leased rate 2 98.7 %
Slide 16: Real Estate Diversification: Lease Expirations and Tenants
Real Estate Diversification Q4 | 2025 Lease Expirations1 $90M 2.5M $75M Annualized Base Rent 2.0M $60M Square Feet 1.5M $45M 1.0M $30M 0.5M $15M $0M 0.0M 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Thereafter Expiring Annualized Base Rent2 Expiring Leased Square Feet Tenant Diversification2,3,
Slide 17: Real Estate Diversification: EBITDARM Coverage
Real Estate Diversification Q4 | 2025 EBITDARM Coverage Ratio1 % of ABR2 EBITDARM Coverage Medical Outpatient Building 15.1% 9.2x Inpatient Rehabilitation Facility 33.5% 3.9x Surgical and Specialty Facilities3 27.0% 6.5x Reporting Properties 75.6% 5.9x Non-Reporting Properties 24.4% Total Portfolio
Slide 18: Portfolio
Portfolio Q4 | 2025 (as of December 31, 2025) Rentable Date % Market Property Name State Square Feet Acquired Leased Property Subtype Akron Akron Healthcare Facility OH 98,705 10/4/2019 100.0 % Medical Outpatient Building Akron Akron Healthcare Facility II OH 38,564 10/4/2019 100.0 % Medical Outpati
Slide 19: Portfolio (Continued)
Portfolio (Continued) Q4 | 2025 (as of December 31, 2025) Rentable Date % Market Property Name State Square Feet Acquired Leased Property Subtype Des Moines Indianola Healthcare Facility II IA 20,990 9/26/2018 100.0 % Medical Outpatient Building Destin Crestview Healthcare Facility FL 5,685 10/4/201
Slide 20: Portfolio (Continued)
Portfolio (Continued) Q4 | 2025 (as of December 31, 2025) Rentable Date % Market Property Name State Square Feet Acquired Leased Property Subtype Little Rock Bryant Healthcare Facility II AR 16,425 8/16/2019 100.0 % Medical Outpatient Building Los Angeles El Segundo Healthcare Facility CA 12,163 10/
Slide 21: Portfolio (Continued)
Portfolio (Continued) Q4 | 2025 (as of December 31, 2025) Rentable Date % Market Property Name State Square Feet Acquired Leased Property Subtype San Antonio New Braunfels Healthcare Facility TX 27,971 10/4/2019 100.0 % Specialty Facility San Antonio San Antonio Healthcare Facility TX 44,746 6/29/20
Slide 22: Glossary
Glossary Q4 | 2025 Contractual Annualized Base Rent The sum of each tenant’s contractual base rent in the last month of the period multiplied by twelve months, unless otherwise specified. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and Earnings Before Interest, Taxes, Dep
Slide 23: Glossary
Glossary Q4 | 2025 Funds From Operations (FFO), Core Funds From Operations, and Adjusted Funds From Operations (AFFO) FFO, a non-GAAP financial measure, is calculated consistent with Nareit’s definition, as net income (calculated in accordance with GAAP), excluding gains and losses from sales of rea
Slide 24: Glossary
Glossary Q4 | 2025 Liquidity A financial metric that represents the outstanding cash and cash equivalents combined with the remaining borrowing base availability on the Company’s credit facilities at a point in time. Market Capitalization The total number of outstanding shares of the Company's commo
Slide 25: Glossary
Glossary Q4 | 2025 Net Operating Income (NOI), Cash NOI and Same Store Cash NOI (Continued) The following is a reconciliation from net income attributable to common stockholders, which is the most directly comparable GAAP financial measure, to NOI, Cash NOI and Same Store Cash NOI, for the following
Slide 26: Glossary
Glossary Q4 | 2025 Same Store Properties Operating properties that were owned and operated for the entirety of all calendar periods being compared, excluding properties under development, re- development, or classified as held for sale. To evaluate properties on a comparable basis, management analyz