Brookdale Reports February 2023 Occupancy

(Moderate)

(Neutral)

Rhea-AI Summary

Brookdale Senior Living Inc. (NYSE: BKD) announced its consolidated occupancy data for February 2023, showing a year-over-year increase of 300 basis points, rising from 73.3% in 2022 to 76.3% in 2023. This marks the sixteenth consecutive month of year-over-year occupancy growth. However, the first quarter-to-date occupancy saw a decrease of 70 basis points compared to the fourth quarter of 2022, in line with expected seasonal trends. As of December 31, 2022, Brookdale operates 673 communities across 41 states, serving over 60,000 residents.

Positive

300 basis points year-over-year occupancy increase to 76.3%.
Sixteen consecutive months of year-over-year occupancy growth.

Negative

70 basis points decrease in first quarter-to-date weighted average occupancy compared to Q4 2022.

Argus Publication session

-3.65% session move Open Argus

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News Market Reaction – BKD

In the trading session that priced this news, BKD declined 3.65%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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03/08/2023 - 04:15 PM

NASHVILLE, Tenn., March 8, 2023 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) reported today its consolidated occupancy for February 2023.

February 2023 Observations:

February weighted average occupancy increased 300 basis points year-over-year, from 73.3% in 2022 to 76.3% in 2023.
Achieved sixteen consecutive months of year-over-year weighted average occupancy growth.
Consistent with pre-pandemic seasonality, first quarter-to-date weighted average occupancy decreased (70) basis points compared to the full fourth quarter.

About Brookdale Senior Living

Brookdale Senior Living Inc. is the nation's premier operator of senior living communities. The Company is committed to its mission of enriching the lives of the people it serves with compassion, respect, excellence, and integrity. The Company, through its affiliates, operates independent living, assisted living, memory care, and continuing care retirement communities. Through its comprehensive network, Brookdale helps to provide seniors with care and services in an environment that feels like home. The Company's expertise in healthcare, hospitality, and real estate provides residents with opportunities to improve wellness, pursue passions, and stay connected with friends and loved ones. Brookdale, through its affiliates, operates and manages 673 communities in 41 states as of December 31, 2022, with the ability to serve more than 60,000 residents. Brookdale's stock trades on the New York Stock Exchange under the ticker symbol BKD. For more information, visit brookdale.com or connect with Brookdale on Facebook or Twitter.

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SOURCE Brookdale Senior Living Inc.

FAQ

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What was Brookdale's occupancy rate in February 2023?

In February 2023, Brookdale's occupancy rate increased to 76.3%, up from 73.3% in February 2022.

How many consecutive months has Brookdale experienced occupancy growth?

Brookdale has achieved sixteen consecutive months of year-over-year occupancy growth.

What was the occupancy change from Q4 2022 to Q1 2023 for Brookdale?

Brookdale experienced a 70 basis points decrease in weighted average occupancy from Q4 2022 to Q1 2023.

How many communities does Brookdale operate?

As of December 31, 2022, Brookdale operates 673 communities in 41 states.

What is the stock symbol for Brookdale Senior Living?

Brookdale Senior Living's stock is traded under the symbol BKD on the NYSE.

Brookdale Reports February 2023 Occupancy