Net Lease Office Properties (NLOP) Operating Expenses (2022 - 2026)

Net Lease Office Properties (NLOP) recorded quarterly Operating Expenses of $6.0 million in Q1 2026, down 75.2% quarter-over-quarter from $24.2 million in Q4 2025, and down 73.14% on a YoY basis from $22.3 million in Q1 2025.

Net Lease Office Properties (NLOP) Operating Expenses (2022 - 2026) Analysis & Trends

Net Lease Office Properties' Operating Expenses history runs 5 years deep, the most recent figure standing at $6.0 million for Q1 2026.

  • In Q1 2026, Operating Expenses fell 73.14% year-over-year to $6.0 million; the TTM figure through Mar 2026 stood at $203.3 million (up 16.7% YoY), while the FY2025 annual figure was $219.6 million, up 18.0% from the prior year.
  • Operating Expenses was $6.0 million for Q1 2026 at Net Lease Office Properties, down from $24.2 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $167.0 million in Q4 2023 to a low of $6.0 million in Q1 2026.
  • Historically, Operating Expenses has averaged $49.0 million across 5 years, with a median of $32.0 million in 2023.
  • The sharpest annual moves came in 2023 and 2026: Operating Expenses jumped 423.18% in 2023, then slumped 73.14% in 2026.
  • A 5-year view of Operating Expenses shows it stood at $31.9 million in 2022, then surged by 423.18% to $167.0 million in 2023, then sank by 66.5% to $56.0 million in 2024, then slumped by 56.83% to $24.2 million in 2025, then slumped by 75.2% to $6.0 million in 2026.
  • The last three Operating Expenses figures came in at $6.0 million (Q1 2026), $24.2 million (Q4 2025), and $69.5 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Alexandria Real Estate Equities 9.03 Bn 9.03 Bn - 634.35 Mn
2 Cousins Properties 4.85 Bn 4.87 Bn 180.52 Mn 285.09 Mn
3 Kilroy Realty 4.57 Bn 4.57 Bn -59.85 Mn 208.92 Mn
4 Sl Green Realty 3.90 Bn 4.01 Bn 252.80 Mn 61.46 Mn
5 Copt Defense Properties 3.85 Bn 3.90 Bn 195.09 Mn 142.32 Mn
6 Highwoods Properties 3.25 Bn 3.27 Bn - 410.82 Mn
7 Douglas Emmett 2.11 Bn 3.29 Bn 176.48 Mn 202.02 Mn
8 Empire State Realty OP 1.49 Bn 1.49 Bn - 160.87 Mn
9 Piedmont Realty Trust 1.15 Bn 1.15 Bn 85.99 Mn 124.51 Mn
10 Net Lease Office Properties 174.95 Mn 178.91 Mn 8.43 Mn 5.99 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 5.99 Mn
Dec 31, 2025 24.16 Mn
Sep 30, 2025 69.51 Mn
Jun 30, 2025 103.64 Mn
Mar 31, 2025 22.31 Mn
Dec 31, 2024 55.97 Mn
Sep 30, 2024 59.28 Mn
Jun 30, 2024 36.66 Mn
Mar 31, 2024 34.21 Mn
Dec 31, 2023 167.05 Mn
Sep 30, 2023 32.01 Mn
Jun 30, 2023 30.79 Mn
Mar 31, 2023 30.66 Mn
Dec 31, 2022 31.93 Mn
Sep 30, 2022 31.59 Mn