Janus Living (JAN)
Owns private-pay senior housing communities operated through RIDEA structures.
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Owns life plan and independent living-focused senior housing communities, earning resident fees, service revenue, and entrance fees through RIDEA structures. Every property is run by third-party operators, while Healthpeak Investment Management provides the executive team and corporate infrastructure.
Owns senior housing communities across the United States, spanning life plan communities, independent living-focused properties, and campuses with assisted living, memory care, and skilled nursing. Revenue comes from resident fees and services; life plan communities also collect entrance fees.
Operates every property through RIDEA structures, giving the REIT direct exposure to results while third-party managers run each community. Resident payments are primarily private-pay rather than government reimbursement. Healthpeak's platform supports acquisition sourcing and operator oversight.
Relies on Healthpeak Investment Management for external management, executives, and corporate infrastructure. Results depend on occupancy, pricing, staffing, and third-party operator performance; life plan communities also carry entrance-fee refund obligations. Neither the REIT nor its manager has employees.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 17, 2026 | Scotiabank | Reiterate | Rating: —Target: $31 | Target: $33 |
| Sep 16, 2026 | Compass Point | Initiate | Rating: —Target: — | Target: $37 |
| Sep 15, 2026 | Jefferies | Initiate | Rating: —Target: — | Target: $36 |
| Sep 2, 2026 | Scotiabank | Reiterate | Rating: —Target: $30 | Target: $31 |
| Sep 1, 2026 | Wells Fargo | Reiterate | Rating: —Target: $33 | Target: $35 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.56B · Total debt $0 · Total assets $4.71B · Shareholders' equity $2.74B
- Revenue
- $216.5M
- Operating income
- −$7.2M
- Net income
- $10.7M
HistoryDividendAnnual yieldUpcoming
| Institutions | ≈ 56.69% | 165.46M shares | |
|---|---|---|---|
| 164 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Strategic holders | 73.57% | 214.73M shares | |
| 1 holder · as of May 14, 2026 | |||
| Adds to | 130.26% | ||
291.89M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (291.89M in the company's Sep 23, 2026 report, 212.22M elsewhere); stakes use the report.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 130.26%; nothing is left for Other.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Healthpeak Properties, Inc.1Strategicdirector, 10 percent owner | 73.57% | 138.82M A-1 · 75.92M A-2 | filed May 14, 2026 |
BlackRock, Inc.Institution | 5.89% | 8.59M A · 8.59M A | as of Jun 30, 2026 |
Massachusetts Financial Services Co /MA/Institution | 3.21% | 4.69M A · 4.69M A | as of Jun 30, 2026 |
Prudential Financial IncInstitution | 2.60% | 3.79M A · 3.79M A | as of Jun 30, 2026 |
Deutsche Bank AG\Institution | 2.53% | 3.69M A · 3.69M A | as of Jun 30, 2026 |
- The filed share classes (A-1, A-2) could not be matched to the company's, so no percentage.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 23, 2026 | Jeffrey H. Miller | officer: CHIEF OPERATING OFFICER | +7,500 | $20.00 |
| Mar 23, 2026 | Scott M. Brinker | director, officer: PRESIDENT & CEO | +100,000 | $20.00 |
| Mar 23, 2026 | John V. Arabia | director | +60,000 | $20.00 |
| Mar 23, 2026 | Charles J. Jr Herman | director | +5,500 | $20.00 |
| Mar 23, 2026 | Denise Olsen | director | +500 | $20.00 |
- Welltower
Dominant SHOP and RIDEA senior housing platform
- Ventas
Large SHOP owner pursuing senior housing investments
- American Healthcare REIT
SHOP and senior health campus operator overlap
- National Health Investors
Smaller REIT scaling a RIDEA-compliant SHOP arm
- Sabra Health Care REIT
Managed senior housing and leased community peer
- LTC Properties
Seniors housing REIT pivoting into SHOP
- Diversified Healthcare Trust
Large SHOP portfolio under operator transition
- CareTrust REIT
Emerging SHOP entrant with senior living assets
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Janus Living | $29.36 | −1.38% | $6.32B | — | 568.8 | — | — |
| Welltower | $230.45 | +0.02% | $165.95B | 121.9 | 83.2 | 13.2 | +39.1% |
| Ventas | $86.28 | −0.67% | $42.23B | 160.9 | 119.4 | 6.6 | +21.7% |
| American Healthcare REIT | $51.92 | +0.44% | $10.69B | 76.0 | 74.6 | 4.3 | +23.7% |
| National Health Investors | $66.96 | −0.67% | $3.27B | 19.5 | 19.7 | 7.5 | +1.6% |
| Sabra Health Care REIT | $19.78 | −0.18% | $5.00B | 75.5 | 27.2 | 5.8 | +24.7% |
| LTC Properties | $42.30 | −0.28% | $2.17B | 15.2 | 21.5 | 6.2 | −46.2% |
| Diversified Healthcare Trust | $8.04 | −1.59% | $1.98B | — | — | 1.3 | −4.5% |
| CareTrust REIT | $37.22 | −0.57% | $8.84B | 23.2 | 23.0 | 16.3 | +37.4% |
| Median | 75.5 | 27.2 | 6.4 | +22.7% |