NNN REIT stock gains after Morgan Stanley upgrade

Published on 09/22/2026 at 06:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

NNN REIT stock traded at USD 42.02 on September 21, 2026, after Morgan Stanley set a USD 50 target. Market cap stood at USD 8.06 billion.

NNN, US6376091040, Illustration mit AI erstellt.

NNN REIT, Inc. (ISIN US6376091040) traded at USD 42.02 on the NYSE on September 21, 2026, after Morgan Stanley upgraded the stock to Overweight and set a USD 50 price target. The market capitalization was USD 8.06 billion, while the 52-week range stood at USD 38.90 to USD 50.00.

Morgan Stanley sets USD 50 target

According to MarketBeat on September 21, 2026, Morgan Stanley raised its rating from Equal Weight to Overweight and assigned a USD 50 price target. The target is USD 7.98 above the cited USD 42.02 trading level, an increase of approximately 19 percent.

The broader analyst picture remains more cautious. MarketBeat reported on September 21, 2026, that NNN had a consensus Hold rating and an average target price of USD 47.60, based on four Buy ratings, eight Holds and two Sells. The Morgan Stanley target therefore stands USD 2.40 above the published consensus average.

Valuation remains below yearly high

NNN shares were USD 7.98 below the 52-week high of USD 50.00 and USD 3.12 above the 52-week low of USD 38.90 on September 21, 2026. Trading volume was 190,841 shares, compared with an average volume of 1.595 million shares, according to the MarketBeat market snapshot published that day.

The valuation backdrop also contains a counter-factor: the same snapshot placed the price-to-earnings ratio at 20.64 and the PEG ratio at 6.71. For investors, the Morgan Stanley upgrade improves the rating signal, but the distance between the USD 42.02 market price and the USD 47.60 consensus target leaves the market divided rather than uniformly bullish.

Latest filing covers Q2 2026

NNN REIT filed its latest quarterly report, a Form 10-Q dated August 5, 2026, according to the company's SEC filings page. The filing date confirms that the most recent reported interim period available in the current company filing record is within the nine-month freshness window for September 22, 2026.

For the stock, the key comparison is now between the USD 50 Morgan Stanley target and the USD 47.60 consensus target on one side, and the USD 42.02 NYSE price on the other. That spread gives the upgrade a measurable valuation signal while the Hold consensus and the reported 20.64 price-to-earnings ratio provide a concrete restraint.

NNN REIT stock stays below USD 50

NNN REIT stock closed at USD 42.02 on the NYSE on September 21, 2026. The same market snapshot recorded a USD 38.90 to USD 50.00 52-week range and USD 8.06 billion in market capitalization.