Brookdale Reports November 2024 Occupancy
Rhea-AI Summary
Brookdale Senior Living (NYSE: BKD) has reported improved occupancy metrics for November 2024. The company achieved a weighted average occupancy of 79.5%, representing a 110 basis points increase year-over-year. November's occupancy showed a 10 basis points sequential improvement from October, with month-end occupancy maintaining above 80% for the fourth consecutive month.
The fourth quarter-to-date performance showed better move-ins and move-outs compared to the same period last year, contributing to a 100 basis point increase in weighted average occupancy over 2023 fourth quarter-to-date. Brookdale operates 648 communities across 41 states, with the capacity to serve approximately 58,000 residents.
Positive
- Weighted average occupancy increased 110 basis points YoY to 79.5%
- Month-end occupancy remained above 80% for fourth consecutive month
- 10 basis points sequential improvement in occupancy from October
- Improved move-ins and move-outs metrics compared to prior year
Negative
- Overall occupancy still remains below 80% on average
News Market Reaction
On the day this news was published, BKD gained 1.46%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
November 2024 Observations:
- November weighted average occupancy increased 110 basis points year-over-year to
79.5% in 2024. - Demonstrating an improvement to recent years, November weighted average occupancy increased 10 basis points sequentially from October.
- Month end occupancy exceeded
80% for the fourth consecutive month. - Fourth quarter-to-date move-ins and move-outs improved to the prior year comparable period supporting a 100 basis point weighted average occupancy increase over 2023 fourth quarter-to-date.
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 648 communities in 41 states as of September 30, 2024, with the ability to serve approximately 58,000 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.
FAQ
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