Broadstone Net Lease (BNL) Operating Leases (2016 - 2026)

Broadstone Net Lease (BNL) reported Operating Leases of $39.9 million for Q1 2026, down 14.9% year-over-year from $46.8 million in Q1 2025, and down 4.01% quarter-over-quarter from $41.5 million in Q4 2025.

Broadstone Net Lease (BNL) Operating Leases (2016 - 2026) Analysis & Trends

Broadstone Net Lease (BNL) has 11 years of Operating Leases data on file, last reported at $39.9 million in Q1 2026.

  • Operating Leases for Q1 2026 came in at $39.9 million, down 14.9% year-over-year; the trailing twelve-month figure through Mar 2026 was $39.9 million (down 14.9% YoY), and the FY2025 annual result was $41.5 million, down 14.78% from the prior year.
  • Operating Leases declined to $39.9 million in Q1 2026 per BNL's latest filing, from $41.5 million in the prior quarter.
  • Over five years, Operating Leases peaked at $66.9 million in Q2 2022 and troughed at $39.9 million in Q1 2026.
  • A 5-year average of $52.5 million and a median of $52.0 million in 2024 frame the typical range for Operating Leases.
  • The sharpest annual moves came in 2024 and 2025: Operating Leases decreased 7.73% in 2024, then declined 15.67% in 2025.
  • A 5-year view of Operating Leases shows it stood at $62.9 million in 2022, then fell by 14.83% to $53.5 million in 2023, then decreased by 8.97% to $48.7 million in 2024, then declined by 14.78% to $41.5 million in 2025, then declined by 4.01% to $39.9 million in 2026.
  • Business Quant data shows BNL's Operating Leases at $39.9 million in Q1 2026, $41.5 million in Q4 2025, and $43.1 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr)
1 Vici Properties 29.26 Bn 28.78 Bn 1.01 Bn
2 Broadstone Net Lease 3.95 Bn 4.05 Bn -
3 American Assets Trust 1.46 Bn 1.40 Bn -
4 Safehold 1.13 Bn 1.14 Bn 109.54 Mn
5 Empire State Realty Trust 916.51 Mn 1.65 Bn -
6 JBG SMITH Properties 880.19 Mn 1.38 Bn -
7 CTO Realty Growth 672.82 Mn 672.82 Mn 31.01 Mn
8 Gladstone Commercial 608.72 Mn 778.76 Mn -
9 AH Realty Trust 540.92 Mn 723.25 Mn -
10 One Liberty Properties 510.56 Mn 490.30 Mn -

Historic Data

Download Data
DateValue
Mar 31, 2026 39.86 Mn
Dec 31, 2025 41.53 Mn
Sep 30, 2025 43.10 Mn
Jun 30, 2025 44.80 Mn
Mar 31, 2025 46.84 Mn
Dec 31, 2024 48.73 Mn
Sep 30, 2024 50.76 Mn
Jun 30, 2024 53.12 Mn
Mar 31, 2024 50.95 Mn
Dec 31, 2023 53.53 Mn
Sep 30, 2023 55.30 Mn
Jun 30, 2023 57.57 Mn
Mar 31, 2023 59.36 Mn
Dec 31, 2022 62.86 Mn
Sep 30, 2022 64.97 Mn
Jun 30, 2022 66.86 Mn
Dec 31, 2021 70.60 Mn
Sep 30, 2021 72.50 Mn
Jun 30, 2021 74.98 Mn
Mar 31, 2021 77.49 Mn