March 20 (Reuters) – Janus Living’s shares rose 17.5% in their New York Stock Exchange debut on Friday, giving the U.S. seniors-focused real estate investment trust a valuation of $5.92 billion and marking a notable green shoot for the sector.
Janus’ shares opened at $23.50, above the offer price of $20 apiece. The Denver-based REIT raised $840 million in its upsized U.S. initial public offering on Thursday, after selling 42 million shares at the top end of its marketed range of $18 to $20.
The U.S. IPO market has been uneven with market volatility leading to several listings being postponed or withdrawn, though investor appetite remains intact for companies insulated from AI disruption and less exposed to broader market swings.
Janus owns 34 senior housing communities across 10 states, primarily in Florida and Texas, and focuses on rental income from senior housing and growth driven by aging demographics.
The senior housing REIT spun off from Healthpeak earlier this year.
(Reporting by Pragyan Kalita and Prakhar Srivastava in Bengaluru; Editing by Shreya Biswas)
