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Janus Living senior housing REIT IPO planned H1 2026; 2026 FFO guided $1.70-$1.74

Healthpeak Properties announced the formation and planned IPO of Janus Living, a pure-play senior housing REIT to which Healthpeak will contribute its 34-community, 10,422-unit portfolio, expected to complete in H1 2026. The company reported Q4 2025 Nareit FFO of $0.47 per share and AFFO of $0.40 per share, with Total Same-Store Cash NOI +3.9%, and guided FY2026 FFO of $1.70-$1.74 per share. Ten analysts recommend buying the stock with a Buy consensus and average target of $19.88 representing 14% upside from the $17.28 current price.