Janus Living initiated with a Neutral at Goldman Sachs

Goldman Sachs analyst Julien Blouin initiated coverage of Janus Living (JAN) with a Neutral rating and $27 price target The rating reflects a balance between strong long-term tailwinds in senior housing and Janus Living’s growth potential as a pure-play RIDEA REIT, against below-peer occupancy and a valuation that already prices in many of these advantages, the analyst tells investors in a research note. Favorable demographics and limited supply support the outlook, but current valuation and operational gaps temper upside, the firm says.