BofA initiated coverage of Janus Living (JAN) with a Buy rating and $29 price target. The pure-play senior housing REIT externally managed by Healthpeak Properties (DOC) has 100% NOI exposure to high-quality, RIDEA-structured Senior Housing Operating Platforms and Continuing Care Retirement Communities, notes the analyst, who believes Janus’ senior housing focused strategy, conservative balance sheet, and strong operator base position the company to deliver above-average earnings growth over time.
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