Sila Realty Trust Files Q3 2024 10-Q
Ticker: SILA · Form: 10-Q · Filed: Nov 12, 2024 · CIK: 1567925
Sentiment: neutral
Topics: 10-Q, real-estate, financials
TL;DR
Sila Realty Trust (SILA) filed its Q3 2024 10-Q. Check financials.
AI Summary
Sila Realty Trust, Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Carter Validus Mission Critical REIT II, Inc., is incorporated in Maryland and headquartered in Tampa, Florida. The filing covers the third quarter of 2024 and includes financial data and operational updates.
Why It Matters
This filing provides investors with an update on Sila Realty Trust's financial performance and operational status for the third quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant negative news indicated in the provided snippet.
Key Numbers
- 2024 Q3 — Reporting Period (The specific quarter for which financial information is provided.)
- 12/31 — Fiscal Year End (Indicates the end of the company's fiscal year.)
Key Players & Entities
- Sila Realty Trust, Inc. (company) — Filer of the 10-Q
- Carter Validus Mission Critical REIT II, Inc. (company) — Former name of Sila Realty Trust, Inc.
- 20240930 (date) — Period of report for the 10-Q
- 20241112 (date) — Filing date of the 10-Q
- TAMPA (location) — City of Sila Realty Trust's headquarters
FAQ
What is the primary business of Sila Realty Trust, Inc.?
Sila Realty Trust, Inc. operates within the Real Estate Investment Trusts sector, as indicated by its SIC code [6798].
When was Sila Realty Trust, Inc. formerly known as?
The company was formerly known as Carter Validus Mission Critical REIT II, Inc., with a date of name change on 20130125.
What is the SEC file number for Sila Realty Trust, Inc.?
The SEC file number for Sila Realty Trust, Inc. is 001-42129.
Where is Sila Realty Trust, Inc. located?
Sila Realty Trust, Inc. is located at 1001 Water Street, Suite 800, Tampa, FL 33602.
What is the period of the report for this 10-Q filing?
The conformed period of report for this 10-Q filing is 20240930, representing the third quarter of 2024.
Filing Stats: 4,684 words · 19 min read · ~16 pages · Grade level 16.5 · Accepted 2024-11-12 16:33:34
Key Financial Figures
- $0.01 — ange on which registered Common stock, $0.01 par value per share SILA New York Sto
Filing Documents
- cik0001567925-20240930.htm (10-Q) — 1281KB
- ex311q3202410-q.htm (EX-31.1) — 10KB
- ex312q3202410-q.htm (EX-31.2) — 10KB
- ex321q3202410-q.htm (EX-32.1) — 7KB
- ex322q3202410-q.htm (EX-32.2) — 7KB
- cik0001567925-20240930_g1.jpg (GRAPHIC) — 646KB
- 0001567925-24-000102.txt ( ) — 9005KB
- cik0001567925-20240930.xsd (EX-101.SCH) — 52KB
- cik0001567925-20240930_cal.xml (EX-101.CAL) — 87KB
- cik0001567925-20240930_def.xml (EX-101.DEF) — 251KB
- cik0001567925-20240930_lab.xml (EX-101.LAB) — 663KB
- cik0001567925-20240930_pre.xml (EX-101.PRE) — 464KB
- cik0001567925-20240930_htm.xml (XML) — 1065KB
FINANCIAL INFORMATION (Unaudited)
PART I. FINANCIAL INFORMATION (Unaudited) 3
Condensed Consolidated Financial Statements
Item 1. Condensed Consolidated Financial Statements 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 7 Notes to the Condensed Consolidated Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 36
Controls and Procedures
Item 4. Controls and Procedures 37
OTHER INFORMATION
PART II. OTHER INFORMATION 38
Legal Proceedings
Item 1. Legal Proceedings 38
Risk Factors
Item 1A. Risk Factors 38
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 38
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 38
Other Information
Item 5. Other Information 39
Exhibits
Item 6. Exhibits 40
SIGNATURES
SIGNATURES Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Condensed Consolidated Financial Statements
Item 1. Condensed Consolidated Financial Statements. SILA REALTY TRUST, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share data) (Unaudited) September 30, 2024 December 31, 2023 ASSETS Real estate: Land $ 160,984 $ 157,821 Buildings and improvements, less accumulated depreciation of $ 264,224 and $ 227,156 , respectively 1,559,654 1,470,831 Total real estate, net 1,720,638 1,628,652 Cash and cash equivalents 28,606 202,019 Intangible assets, less accumulated amortization of $ 117,336 and $ 102,456 , respectively 130,982 134,999 Goodwill 17,700 17,700 Right-of-use assets 36,219 36,384 Other assets 73,288 79,825 Total assets $ 2,007,433 $ 2,099,579 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Credit facility, net of deferred financing costs of $ 3,389 and $ 1,847 , respectively $ 521,611 $ 523,153 Accounts payable and other liabilities 36,734 30,381 Intangible liabilities, less accumulated amortization of $ 8,446 and $ 7,417 , respectively 7,384 10,452 Lease liabilities 41,229 41,158 Total liabilities 606,958 605,144 Stockholders' equity: Preferred stock, $ 0.01 par value per share, 100,000,000 shares authorized; none issued and outstanding — — Common stock, $ 0.01 par value per share, 510,000,000 shares authorized; 61,685,365 and 61,154,404 (1) shares issued, respectively; 55,018,442 and 56,983,564 (1) shares outstanding, respectively 550 570 Additional paid-in capital 1,997,642 2,044,450 Distributions in excess of accumulated earnings ( 603,703 ) ( 567,188 ) Accumulated other comprehensive income 5,986 16,603 Total stockholders' equity 1,400,475 1,494,435 Total liabilities and stockholders' equity $ 2,007,433 $ 2,099,579 (1) Retroactively adjusted for the effects of the Reverse Stock Split (see Note 1—"Organization and Business Operations" for additional information). The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of Contents SILA