Janus Living, Inc. (NYSE: JAN) reported financial results for the three months ended September 30, 2026, revealing a net loss of $0.02 per share for the third quarter of 2026, compared to net income of $0.01 per share in the prior year period. Despite the net loss, the company reported a significant increase in Funds From Operations (FFO) as Adjusted to $0.25 per share, a 46% increase year-over-year. Consolidated revenues for the quarter reached $268 million, an increase of 78%, while Adjusted EBITDAre rose to $105 million, up 101%.
Performance metrics for existing properties also improved. Same-store adjusted net operating income (NOI) increased by 25.9%, with margins expanding by 360 basis points. Same-store revenues grew by 9.8%, driven by an average occupancy increase of 300 basis points and a 6.5% rise in revenue per occupied room (RevPOR). The company also recorded record non-refundable entrance fee sales of $47 million for the quarter.
Janus Living completed a substantial amount of acquisition activity during the reporting period. From July 1 through September 30, the company acquired 33 senior housing communities for approximately $1.75 billion. This included approximately $1.0 billion in acquisitions from July 1 to August 3 and approximately $743 million from August 4 to September 30. Following the quarter end, the company completed an additional approximately $370 million in acquisitions through October 30, bringing year-to-date acquisitions to approximately $2.9 billion. The company has approximately $82 million of senior housing acquisitions under binding purchase agreements expected to close in the fourth quarter of 2026.
On the capital markets front, Janus Living completed a follow-on offering of Class A-1 common stock in August 2026, generating approximately $513 million in net proceeds. In September, the company upsized its unsecured revolving credit facility to $1.25 billion, increasing total commitments from $600 million. As of October 30, the company reported approximately $1.2 billion in liquidity, which includes unrestricted cash and available credit facility capacity.
The company updated its 2026 guidance ranges. For full year 2026, diluted earnings per common share guidance was lowered to a range of $0.08 to $0.10, a decrease of $0.27 from the previous midpoint, attributed to depreciation and amortization associated with recent acquisitions. Diluted FFO as Adjusted per share guidance was increased to a range of $0.97 to $0.99. Same-store adjusted NOI growth guidance was also raised to 16% to 19%.
Janus Living declared a monthly cash dividend of $0.0475 per share for the fourth quarter of 2026, with payments scheduled for October 28, November 23, and December 29, 2026.
