Janus Living slides on $464 mln share sale
BUZZ-Janus Living slides on $464 mln share sale ** Janus Living's JAN.N shares down 4.3% at $28.89 premarket on Tues after $464 mln follow-on priced
** Senior housing REIT late Mon said it sold 16 mln Class A-1 shares at $29, a 3.9% discount to their last sale of $30.18
** It plans to use net proceeds for acquisition and investment opportunities and general purposes
** BofA, JP Morgan and Wells Fargo lead bookrunners
** JAN, externally managed by Healthpeak Properties DOC.N, went public in Mar after 42 mln share IPO priced at $20, and then priced a 25 mln share offering at $25 in early Jun
** As of Aug 3, JAN had ~215.97 mln A-1 shares outstanding and ~75.92 mln A-2 shares outstanding, per recent SEC filing
** 10 of 11 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT $33, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))