Welcome to our dedicated page for Brookdale Senior Living news (Ticker: BKD), a resource for investors and traders seeking the latest updates and insights on Brookdale Senior Living stock.
Brookdale Senior Living Inc. (NYSE: BKD) is the leading operator of senior living communities across the United States, dedicated to enhancing the quality of life for seniors. With a commitment to compassion, respect, excellence, and integrity, Brookdale offers a variety of living solutions tailored to meet the diverse needs of its residents. The company operates 652 communities in 41 states as of March 31, 2024, serving approximately 59,000 residents.
Brookdale's core services are segmented into Independent Living, Assisted Living and Memory Care, and Continuing Care Retirement Communities (CCRCs). The majority of its revenue is generated from the Assisted Living and Memory Care segment, where residents receive housing and assistance with daily activities. Brookdale also offers a range of outpatient therapy, home health, and hospice services through its ancillary services program.
The company has made significant strides in its operational and financial performance. Recent achievements include improved consolidated occupancy rates and successful execution of strategic priorities, paving the way for future growth. Financially, Brookdale continues to strengthen its position by completing key financing transactions that have refinanced debt maturities, and by reporting strong quarterly results.
Brookdale’s expertise spans healthcare, hospitality, and real estate, providing residents with a comprehensive environment that promotes wellness, social connection, and personal growth. The company's communities are purpose-built to offer high-quality care and living accommodations, ensuring a home-like atmosphere for its residents.
For the latest updates on Brookdale’s financial performance and developments, visit the company’s investor relations page or connect with them on social media platforms like Facebook and YouTube.
Brookdale Senior Living Inc. (NYSE: BKD) has announced leadership changes to enhance operational efficiency. Steven E. Swain will exit as CFO, effective February 24, 2023, with Dawn L. Kussow stepping in as his successor. Kevin W. Bowman has also left his position. Preliminary financial results for 2022 indicate full-year RevPAR growth but a slight decline in Adjusted EBITDA compared to previous guidance. Total revenues are expected to exceed earlier forecasts, but facility operating expenses are projected to rise above 1% in Q4 2022. CEO Lucinda Baier noted strong revenue growth despite challenges, including a difficult labor market and winter storm Elliott.
Brookdale Senior Living Inc. (NYSE: BKD) reported a positive trend in its occupancy rates for December 2022. The weighted average occupancy increased by 70 basis points in the fourth quarter compared to Q3. The company achieved a 340 basis point increase year-over-year and a remarkable 760 basis point growth since March 2021. This marks fourteen consecutive months of year-over-year growth in occupancy. As of December 31, 2022, Brookdale operates 673 communities across 41 states, serving over 60,000 residents.
Brookdale Senior Living Inc. (NYSE: BKD) announced a significant uptick in its consolidated occupancy for November 2022. The company's weighted average occupancy rose by 350 basis points year-over-year and by 70 basis points compared to the full third quarter. This marks the thirteenth consecutive month of year-over-year growth, showcasing a 760 basis point increase since the recovery began in March 2021. Brookdale operates 672 communities across 41 states, catering to over 60,000 residents.
Brookdale Senior Living Inc. (NYSE: BKD) announced the pricing of its public offering of 2.5 million tangible equity units at $50.00 per unit, expected to close on November 21, 2022. The offering may yield approximately $120.3 million, or up to $138.5 million if the underwriters exercise their over-allotment option. Each unit includes a prepaid stock purchase contract and a senior amortizing note due November 15, 2025, with an interest rate of 10.25%. The proceeds will be used for general corporate purposes.
Brookdale Senior Living Inc. (NYSE: BKD) announced a public offering of 2.5 million tangible equity units, totaling $125.0 million. Each unit, priced at $50.00, consists of a prepaid stock purchase contract and a senior amortizing note maturing in November 2025. The offering is made via a prospectus supplement under an effective shelf registration statement. Brookdale intends to use the net proceeds for general corporate purposes. The underwriters have a 30-day option to purchase an additional 375,000 units.
Brookdale Senior Living (BKD) reported a robust performance for Q3 2022, with a 9.7% increase in consolidated revenue per available unit (RevPAR) year-over-year and a 390 basis point rise in weighted average occupancy. The company refinanced $220 million in debt, enhancing financial stability. Despite challenges from Hurricane Ian, Brookdale's occupancy growth since March 2021 is notable, with a 750 basis point increase. Revenue from resident fees rose 9.9% year-over-year, although net income showed a loss of $28.4 million due to prior year gains. Adjusted EBITDA improved significantly.
Brookdale Senior Living Inc. (NYSE: BKD) will release its third quarter 2022 financial results on November 7, 2022, after market hours. The company plans to discuss these results during a conference call on November 8, 2022, at 9:00 AM ET. Brookdale operates 672 communities across 41 states, serving over 60,000 residents, emphasizing its commitment to enriching lives with compassion and integrity. Investors can access the call via the company’s investor relations website and participate in a replay available until November 15, 2022.
Brookdale Senior Living Inc. (BKD) announced the completion of a $220 million financing transaction aimed at refinancing nearly all of its 2023 debt maturities. The mortgage debt, obtained from Capital One and Synovus Bank, features an initial three-year term with two one-year renewal options and an interest rate of 2.45% over SOFR. This move provides Brookdale with a strategic advantage, extending its maturity runway until September 2024, excluding one loan related to an asset intended for sale. The refinancing includes first priority mortgages on 24 senior living communities.
Brookdale Senior Living (NYSE: BKD) reported an increase in consolidated occupancy for September 2022. The company's sequential occupancy rose by 50 basis points, while third-quarter move-ins grew by 7%. Additionally, the weighted average occupancy increased by 390 basis points compared to the same quarter last year, marking an impressive growth of 750 basis points since March 2021. Brookdale has achieved eleven consecutive months of year-over-year occupancy growth, reinforcing its position in the senior living market.
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