Brookdale Reports March 2021 Occupancy

Rhea-AI Summary

Brookdale Senior Living Inc. (BKD) released its March 2021 occupancy report, revealing positive trends. March marked a sequential improvement in occupancy percentage, with net move-ins exceeding move-outs for the first time since the onset of the pandemic. Monthly move-ins have consistently increased since November 2020. The company plans to continue reporting monthly occupancy figures until it resumes financial guidance, aligning with historical reporting practices.

Positive

• Occupancy percentage improved sequentially for March 2021.
• First positive net move-ins and move-outs (MIMO) reported year-over-year since the pandemic began.
• Monthly move-ins have risen each month since November 2020.

Negative

• None.

NASHVILLE, Tenn., April 8, 2021 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) reported today its consolidated occupancy for March 2021.

March 2021 Observations:

• Sequentially, the occupancy percentage turned positive for month-end and slightly positive on a weighted-average basis.
• Net move-ins and move-outs (MIMO) turned positive on a year-over-year basis, the first positive net MIMO since the beginning of the pandemic.
• Move-ins have increased sequentially each month since November 2020.
• We expect to continue to publish monthly occupancy until we return to providing financial guidance, at which point we would expect to return to our historical reporting practices.

About Brookdale Senior Living
Brookdale Senior Living Inc. is the leading operator of senior living communities throughout the United States. The Company is committed to providing senior living solutions primarily within properties that are designed, purpose-built and operated to provide the highest-quality service, care and living accommodations for residents. Brookdale operates and manages independent living, assisted living, memory care and continuing care retirement communities, with 695 communities in 42 states and the ability to serve approximately 60,000 residents as of March 31, 2021. The Company also offers a range of home health, hospice and outpatient therapy services to approximately 16,000 patients as of that date. Brookdale's stock is traded on the New York Stock Exchange under the ticker symbol BKD.

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SOURCE Brookdale Senior Living Inc.

FAQ

What did Brookdale Senior Living report for March 2021?

Brookdale Senior Living reported a sequential improvement in occupancy and positive net move-ins for March 2021.

What is the significance of the net move-ins for BKD in March 2021?

March 2021 marked the first month with positive net move-ins since the beginning of the pandemic.

When did Brookdale start seeing an increase in move-ins?

Move-ins have increased sequentially each month since November 2020.

Will Brookdale continue to provide monthly occupancy reports?

Yes, Brookdale plans to continue publishing monthly occupancy reports until it resumes financial guidance.