Ten of 11 analysts rate the stock "strong buy" or "buy" and one rates it "hold," with a median price target of $33, according to LSEG data.
Shares fall after follow-on pricing
Janus Living's JAN.N shares were down 4.3% at $28.89 premarket on Tuesday after a $464 million follow-on was priced.
The senior housing REIT late Monday said it sold 16 million Class A-1 shares at $29, a 3.9% discount to their last sale of $30.18.
It plans to use net proceeds for acquisition and investment opportunities and general purposes.
BofA, JP Morgan and Wells Fargo are lead bookrunners.
Recent capital raises and share count
JAN, externally managed by Healthpeak Properties DOC.N, went public in March after a 42 million share IPO priced at $20, and then priced a 25 million share offering at $25 in early June.
As of Aug. 3, JAN had about 215.97 million A-1 shares outstanding and about 75.92 million A-2 shares outstanding, according to a recent SEC filing.
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