Morgan Stanley upgrades NNN REIT: NNN REIT stock falls 1.73 percent

Published on 10/01/2026 at 18:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached USD 244.27 million versus USD 240.19 million expected. NNN REIT stock costs EUR 35.73 on October 1, 2026 versus EUR 36.36.

NNN, US6374171063, Illustration mit AI erstellt.

On September 21, 2026, Morgan Stanley upgraded NNN REIT from Equal Weight to Overweight while keeping its USD 50.00 price target, according to Markets Insider. On October 1, 2026, NNN REIT stock was trading at EUR 35.73 at Lang & Schwarz, down 1.73 percent versus the prior close of EUR 36.36.

Why Morgan Stanley changed course

The rating move followed a recent rate-driven selloff, with Morgan Stanley arguing that NNN REIT's defensive portfolio and balance sheet were underappreciated. The bank also pointed to debt maturity: less than 30 percent of borrowings mature within the next three years, according to the same September 21 report.

The unchanged USD 50.00 target keeps the focus on valuation rather than a new operating forecast. Because the target is in US dollars and the reference quote is in euros, the two prices are not combined into one percentage comparison.

Second-quarter figures beat estimates

NNN REIT reported USD 244.27 million of revenue for the second quarter of 2026, compared with USD 240.19 million expected, according to MarketBeat. Reported earnings per share reached USD 0.52 versus a USD 0.51 consensus, while fiscal 2026 earnings-per-share guidance stood at USD 3.50-3.54.

The company also lifted its quarterly dividend from USD 0.60 to USD 0.62 per share. That payout equals USD 2.48 on an annualized basis and gives the stock a 5.7 percent yield in the cited September 12 report.

November results set the next test

NNN REIT will release third-quarter 2026 results before the market opens on November 4, 2026, and will hold its conference call at 10:30 a.m. ET, according to the company's NNN REIT release dated September 23, 2026.

Stock trades below its prior close

At Lang & Schwarz, NNN REIT was trading intraday at EUR 35.73 on October 1, 2026 at 6:48 p.m. CEST, down 1.73 percent versus the EUR 36.36 prior close from September 30, 2026. The primary listing is on the NYSE, where the September 30, 2026 close was USD 41.09; the 52-week range was USD 38.90 to USD 50.00 and market capitalization was USD 7.9 billion.