Janus Living (NYSE:JAN) Sets New 52-Week High – What’s Next?

Shares of Janus Living, Inc. (NYSE:JAN) reached a new 52-week high on Tuesday. The company traded as high as $32.83 and last traded at $32.6450, with a volume of 1,675,892 shares trading hands. The stock had previously closed at $32.02.

Analyst Upgrades and Downgrades

JAN has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Janus Living from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, August 18th. Huntington started coverage on shares of Janus Living in a research note on Monday, November 2nd. They set a “strong-buy” rating for the company. Wall Street Zen downgraded shares of Janus Living from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. Mizuho initiated coverage on shares of Janus Living in a research report on Monday, November 2nd. They issued an “outperform” rating and a $33.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Janus Living from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Janus Living has a consensus rating of “Moderate Buy” and a consensus target price of $32.29.

Janus Living Stock Down 0.2%

The stock has a market capitalization of $9.49 billion and a PE ratio of -1,624.75. The stock’s 50 day moving average price is $29.70 and its 200-day moving average price is $28.17.

Janus Living Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Friday, December 18th will be given a $0.0475 dividend. This represents a $0.57 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, December 18th. Janus Living’s payout ratio is -2,850.00%.

Hedge Funds Weigh In On Janus Living

A number of hedge funds have recently added to or reduced their stakes in JAN. Asset Management One Co. Ltd. grew its stake in Janus Living by 1,764.5% in the third quarter. Asset Management One Co. Ltd. now owns 130,326 shares of the REIT’s stock worth $3,862,000 after purchasing an additional 123,336 shares in the last quarter. Wellington Management Group LLP bought a new stake in Janus Living during the 2nd quarter valued at $8,739,000. Readystate Asset Management LP bought a new stake in Janus Living during the 2nd quarter valued at $1,724,000. Engineers Gate Manager LP purchased a new stake in shares of Janus Living in the 2nd quarter worth $15,274,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Janus Living in the 2nd quarter worth $2,985,000. 6.27% of the stock is currently owned by institutional investors.

About Janus Living

Janus Living, Inc. is a real estate investment trust (REIT) focused on owning and investing in senior housing communities across the United States. Its portfolio includes independent living, assisted living, memory care and skilled nursing properties, with a concentration in major retirement markets. The company partners with third-party operators to manage its communities under structures permitted by the REIT Investment Diversification and Empowerment Act of 2007 (RIDEA). Janus Living is externally managed by a subsidiary of Healthpeak Properties, Inc. and is headquartered in Denver, Colorado.