Broadstone Net Lease, Inc.
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 19, 2026
BNL$17.85+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Accounted for using the operating method: | ||
| Land | $781,117 | $778,826 |
| Land improvements | 373,405 | 357,142 |
| Buildings and improvements | 4,118,578 | 3,815,521 |
| Equipment | 15,281 | 15,843 |
| Total accounted for using the operating method | 5,288,381 | 4,967,332 |
| Less accumulated depreciation | (772,589) | (672,478) |
| Accounted for using the operating method, net | 4,515,792 | 4,294,854 |
| Accounted for using the direct financing method | 25,497 | 26,154 |
| Accounted for using the sales-type method | 14,405 | 571 |
| Property under development | 265,812 | 18,784 |
| Investment in rental property, net | 4,821,506 | 4,340,363 |
| Cash and cash equivalents | 30,540 | 14,845 |
| Accrued rental income | 178,880 | 162,717 |
| Tenant and other receivables, net | 4,404 | 3,281 |
| Prepaid expenses and other assets | 55,910 | 41,584 |
| Interest rate swap, assets | 18,248 | 46,220 |
| Goodwill | 339,769 | 339,769 |
| Intangible lease assets, net | 268,010 | 267,638 |
| Total assets | $5,717,267 | $5,216,417 |
| Liabilities and equity | ||
| Unsecured revolving credit facility | $266,036 | $93,014 |
| Mortgages, net | 56,689 | 76,846 |
| Unsecured term loans, net | 994,219 | 897,201 |
| Senior unsecured notes, net | 1,190,738 | 846,064 |
| Interest rate swap, liabilities | 1,501 | — |
| Accounts payable and other liabilities | 60,081 | 48,983 |
| Dividends payable | 59,513 | 58,317 |
| Accrued interest payable | 13,502 | 5,837 |
| Intangible lease liabilities, net | 41,527 | 48,731 |
| Total liabilities | 2,683,806 | 2,074,993 |
| Commitments and contingencies (Note 17) | ||
| Equity | ||
| Broadstone Net Lease, Inc. equity: | ||
| Preferred stock, $0.001 par value; 20,000 shares authorized, no shares issued or outstanding | — | — |
| Common stock, $0.00025 par value; 500,000 shares authorized, 191,423 and 188,626 shares issued and outstanding at December 31, 2025 and 2024, respectively | 48 | 47 |
| Additional paid-in capital | 3,502,380 | 3,450,584 |
| Cumulative distributions in excess of retained earnings | (620,221) | (496,543) |
| Accumulated other comprehensive income | 19,788 | 49,657 |
| Total Broadstone Net Lease, Inc. equity | 2,901,995 | 3,003,745 |
| Non-controlling interests | 131,466 | 137,679 |
| Total equity | 3,033,461 | 3,141,424 |
| Total liabilities and equity | $5,717,267 | $5,216,417 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.