$SILA
Sila Realty Trust, Inc.

2023 Q3 Form 10-Q Financial Statement

#000156792523000061 Filed on November 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3
Revenue $48.54M
YoY Change 3.54%
Cost Of Revenue $5.005M
YoY Change 54.86%
Gross Profit $43.54M
YoY Change -0.26%
Gross Profit Margin 89.69%
Selling, General & Admin $9.833M
YoY Change
% of Gross Profit 22.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $56.07M
YoY Change
% of Gross Profit 128.79%
Operating Expenses $27.93M
YoY Change
Operating Profit $15.61M
YoY Change
Interest Expense -$5.630M
YoY Change 2.4%
% of Operating Profit -36.07%
Other Income/Expense, Net -$5.629M
YoY Change
Pretax Income $14.98M
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $14.98M
YoY Change 11.88%
Net Earnings / Revenue 30.87%
Basic Earnings Per Share $0.07
Diluted Earnings Per Share $0.06
COMMON SHARES
Basic Shares Outstanding 227.4M shares
Diluted Shares Outstanding 229.3M shares

Balance Sheet

Concept 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.56M
YoY Change
Cash & Equivalents $14.56M
Short-Term Investments
Other Short-Term Assets $4.072M
YoY Change
Inventory
Prepaid Expenses
Receivables $66.77M
Other Receivables $0.00
Total Short-Term Assets $85.41M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $1.922B
YoY Change
Goodwill $20.13M
YoY Change -12.51%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $32.50M
YoY Change
Total Long-Term Assets $2.134B
YoY Change
TOTAL ASSETS
Total Short-Term Assets $85.41M
Total Long-Term Assets $2.134B
Total Assets $2.219B
YoY Change -3.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.75M
YoY Change
Accrued Expenses $2.645M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $31.50M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $603.1M
YoY Change
Other Long-Term Liabilities $50.46M
YoY Change
Total Long-Term Liabilities $653.5M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $31.50M
Total Long-Term Liabilities $653.5M
Total Liabilities $685.0M
YoY Change 0.74%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $2.276M
YoY Change 0.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.534B
YoY Change
Total Liabilities & Shareholders Equity $2.219B
YoY Change -3.09%

Cashflow Statement

Concept 2023 Q3
OPERATING ACTIVITIES
Net Income $14.98M
YoY Change 11.88%
Depreciation, Depletion And Amortization $56.07M
YoY Change
Cash From Operating Activities $97.84M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $71.41M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $12.39M
YoY Change
Cash From Investing Activities -$59.02M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -37.17M
YoY Change
NET CHANGE
Cash From Operating Activities 97.84M
Cash From Investing Activities -59.02M
Cash From Financing Activities -37.17M
Net Change In Cash 1.646M
YoY Change
FREE CASH FLOW
Cash From Operating Activities $97.84M
Capital Expenditures $71.41M
Free Cash Flow $26.43M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Document Fiscal Year Focus
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dei Current Fiscal Year End Date
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<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company determined that certain expenses, previously presented within general and administrative expenses, are more closely related to the operations of its properties. As a result, these amounts have been reclassified to rental expenses for the prior period to conform to the current period presentation.</span></div>
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dei Entity Filer Category
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Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
false
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1880082000 usd
CY2022Q4 us-gaap Assets
Assets
2219802000 usd
CY2022Q4 us-gaap Line Of Credit
LineOfCredit
580588000 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
30619000 usd
CY2022Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
5923000 usd
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
11946000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
41554000 usd
CY2022Q4 us-gaap Liabilities
Liabilities
664707000 usd
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
27990000 usd
CY2023Q3 us-gaap Costs And Expenses
CostsAndExpenses
27930000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2315000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
16345000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1433000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
34457000 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
17298000 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
29737000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
34471000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
61241000 usd
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
226957015 shares
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
us-gaap Depreciation And Amortization
DepreciationAndAmortization
55452000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
54443000 usd
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
362000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-3367000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
7387000 usd
us-gaap Straight Line Rent
StraightLineRent
2490000 usd
us-gaap Straight Line Rent
StraightLineRent
7653000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3721000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3034000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1063000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2647000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-40000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1158000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
97841000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
89031000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-59023000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-141949000 usd
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
50000000 usd
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
845000000 usd
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
28000000 usd
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
745000000 usd
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 usd
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
4000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6452000 usd
cik0001567925 Increase Decrease In Accounts Payable And Other Liabilities Related To Capital Expenditures And Investments In Real Estate
IncreaseDecreaseInAccountsPayableAndOtherLiabilitiesRelatedToCapitalExpendituresAndInvestmentsInRealEstate
244000 usd
cik0001567925 Increase Decrease In Accounts Payable And Other Liabilities Related To Capital Expenditures And Investments In Real Estate
IncreaseDecreaseInAccountsPayableAndOtherLiabilitiesRelatedToCapitalExpendituresAndInvestmentsInRealEstate
-3295000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
cik0001567925 Capitalized Acquisition Costs Additions
CapitalizedAcquisitionCostsAdditions
158000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
6708000 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
1582000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
7387000 usd
us-gaap Nature Of Operations
NatureOfOperations
Organization and Business Operations <div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sila Realty Trust, Inc., or the Company, is a Maryland corporation, headquartered in Tampa, Florida, that has elected, and currently qualifies, to be taxed as a real estate investment trust, or a REIT, under the Internal Revenue Code of 1986, as amended, or the Code, for federal income tax purposes. The Company invests in high-quality properties leased to tenants. The Company is primarily focused on investing in healthcare assets across the continuum of care, with emphasis on lower cost patient settings, which the Company believes typically generate predictable, durable and growing income streams. The Company may also make other real estate-related investments, which may include equity or debt interests in other real estate entities. </span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Substantially all of the Company’s business is conducted through Sila Realty Operating Partnership, LP, a Delaware limited partnership, or the Operating Partnership. The Company is the sole general partner of the Operating Partnership and directly and indirectly owns 100% of the Operating Partnership.</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Except as the context otherwise requires, the “Company” refers to Sila Realty Trust, Inc., the Operating Partnership and their wholly-owned subsidiaries.</span></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the condensed consolidated financial statements and accompanying notes in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. These estimates are made and evaluated on an ongoing basis using information that is currently available as well as various other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates.</span></div>
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12917000 usd
CY2023Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
2 property
us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
69822000 usd
cik0001567925 Asset Acquisition Assets Acquired
AssetAcquisitionAssetsAcquired
69822000 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
278000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
159178000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
167483000 usd
CY2022 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P8Y9M18D
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
17557000 usd
CY2022Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
5923000 usd
CY2022 cik0001567925 Below Market Leases Weighted Average Remaining Life
BelowMarketLeasesWeightedAverageRemainingLife
P8Y4M24D
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
11946000 usd
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
1106000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
44254000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
178522000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
174706000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
169052000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
165342000 usd
CY2023Q3 cik0001567925 Lessor Operating Lease Payment To Be Received Thereafter
LessorOperatingLeasePaymentToBeReceivedThereafter
990386000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1722262000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P36Y8M12D
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
671000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2746000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2768000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2715000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2681000 usd
CY2023Q3 cik0001567925 Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
107456000 usd
CY2023Q3 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
4236000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
280000000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
50000000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0 usd
CY2023Q3 cik0001567925 Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
275000000 usd
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
605000000 usd
cik0001567925 Long Term Debt Extension Period
LongTermDebtExtensionPeriod
P6M
cik0001567925 Number Of Long Term Debt Extensions
NumberOfLongTermDebtExtensions
2 extension
CY2022Q4 cik0001567925 Long Term Line Of Credit Gross
LongTermLineOfCreditGross
583000000 usd
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
27990000 usd
CY2022Q4 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
0 usd
CY2022Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
27990000 usd
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1228000 usd
CY2022Q3 us-gaap Share Based Compensation
ShareBasedCompensation
860000 usd
CY2023Q3 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
0 legalproceeding
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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