Brookdale Reports May 2024 Occupancy
Rhea-AI Summary
Brookdale Senior Living (NYSE: BKD) reported a significant increase in occupancy for May 2024. The weighted average occupancy rose by 20 basis points sequentially, and month-end occupancy increased by 30 basis points. The second quarter-to-date weighted average occupancy reached 78.0%, up 160 basis points from 76.4% in the same period last year. This marks the 31st consecutive month of year-over-year occupancy growth. Brookdale operates 652 communities across 41 states, serving approximately 59,000 residents. The company's stock trades on the New York Stock Exchange under the ticker symbol BKD.
Positive
- May 2024 weighted average occupancy increased by 20 basis points sequentially.
- Month-end occupancy for May 2024 increased by 30 basis points.
- 31st consecutive month of year-over-year weighted average occupancy growth.
- Second quarter-to-date occupancy increased by 160 basis points to 78.0% compared to 76.4% in the same period of 2023.
Negative
- Despite improvements, overall occupancy is still below full capacity.
News Market Reaction
On the day this news was published, BKD gained 1.05%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
May 2024 Observations:
- Sequentially, May weighted average occupancy increased 20 basis points while month end occupancy increased 30 basis points, supported by ongoing improvement in resident retention.
- May weighted average occupancy reflected a continued outperformance versus pre-pandemic normal seasonality and represented the Company's thirty-first consecutive month of year-over-year weighted average occupancy growth.
- Second quarter-to-date weighted average occupancy increased 160 basis points to
78.0% compared to76.4% for the comparable period of 2023.
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, connection, 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, make new friends, and stay connected with loved ones. Brookdale, through its affiliates, operates and manages 652 communities in 41 states as of March 31, 2024, with the ability to serve approximately 59,000 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 YouTube.
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SOURCE Brookdale Senior Living Inc.
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