Janus Living falls on upsized $748 mln equity raise

By Reuters News13:26 (UTC), 5 November 2026 Updated

** Senior housing REIT Janus Living's JAN.N shares down 4.7% at $28.65 before the bell on Thurs after follow-on pricing

** JAN late Weds announced 26.25 mln shares at $28.50 for about $748.1 mln

** Offering size increased from 25 mln shares and priced at 5.2% discount to last sale

** Co expects to use net offering proceeds for acquisition and investment opportunities, debt repayment and general corp purposes

** BofA, JP Morgan, Wells Fargo and Goldman Sachs lead bookrunners

** Late Mon, JAN posted Q3 adj FFO/sh of $0.25, up 46% yr/yr, and raised 2026 adj FFO guidance slightly to $0.97-$0.99

** Externally managed by Healthpeak Properties DOC.N, JAN went public in Mar IPO priced at $20; it has ~234.37 mln shares outstanding

** 13 of 15 analysts rate the stock "strong buy" or "buy", 2 "hold"; median PT $34, per latest LSEG data

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