Janus Living (NYSE:JAN) Hits New 52-Week High - Should You Buy?

Key Points

• Janus Living hit a 52-week high of $32.83 and was last trading at $32.645, up from its prior close of $32.02.
• Analysts maintain a “Moderate Buy” consensus—14 rate the stock Buy or Strong Buy, while four rate it Hold—but several firms recently lowered price targets. The average target of $32.29 is below the latest share price.
• The REIT announced a monthly dividend of $0.0475 per share, equivalent to a 1.7% annualized yield; institutional investors own 6.27% of its shares.

Janus Living, Inc. (NYSE:JAN - Get Free Report)'s stock price hit a new 52-week high on Tuesday. The stock traded as high as $32.83 and last traded at $32.6450, with a volume of 1,675,892 shares changing hands. The stock had previously closed at $32.02.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Barclays dropped their price target on shares of Janus Living from $34.00 to $33.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 13th. Cantor Fitzgerald decreased their target price on shares of Janus Living from $34.00 to $33.00 and set an "overweight" rating for the company in a report on Wednesday, November 4th. Zacks Research cut shares of Janus Living from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 20th. Wells Fargo & Company reduced their price target on shares of Janus Living from $35.00 to $34.00 and set an "overweight" rating for the company in a research report on Monday, October 19th. Finally, Royal Bank Of Canada upped their price objective on Janus Living from $30.00 to $34.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Janus Living currently has a consensus rating of "Moderate Buy" and an average target price of $32.29.

Janus Living Stock Performance

The business's fifty day moving average price is $29.61 and its 200-day moving average price is $28.11. The stock has a market cap of $9.52 billion and a PE ratio of -1,634.50.

Janus Living Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 29th. Investors of record on Friday, December 18th will be given a dividend of $0.0475 per share. The ex-dividend date is Friday, December 18th. This represents a $0.57 dividend on an annualized basis and a yield of 1.7%. Janus Living's dividend payout ratio is -2,850.00%.

Institutional Investors Weigh In On Janus Living

A number of large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Janus Living during the 3rd quarter valued at $38,077,000. Engineers Gate Manager LP purchased a new stake in Janus Living during the second quarter valued at $15,274,000. Wellington Management Group LLP purchased a new stake in Janus Living during the second quarter valued at $8,739,000. Asset Management One Co. Ltd. increased its position in Janus Living by 1,764.5% during the third quarter. Asset Management One Co. Ltd. now owns 130,326 shares of the REIT's stock valued at $3,862,000 after acquiring an additional 123,336 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in Janus Living in the second quarter valued at about $2,985,000. Institutional investors own 6.27% of the company's stock.

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.

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