American Century Companies Inc. has raised its stake in Brookdale Senior Living Inc. (NYSE: BKD) by 2.3% during the third quarter of 2023. According to a recent Form 13F filing with the U.S. Securities and Exchange Commission, the firm now holds a total of 3,534,675 shares after acquiring an additional 79,962 shares during the quarter. This investment is valued at approximately $29,939,000, representing about 1.51% of Brookdale’s total shares outstanding.
Several other institutional investors have also adjusted their positions in Brookdale. For instance, Quantbot Technologies LP purchased a new stake worth $382,000 in the third quarter, while Fox Run Management L.L.C. and Levin Capital Strategies L.P. made acquisitions valued at $103,000 and $85,000, respectively. CenterBook Partners LP invested $2,181,000, and GSA Capital Partners LLP added a new position worth $725,000.
Analyst Ratings and Stock Performance
Recent analysis from various brokerages has provided a mixed perspective on Brookdale’s stock. The Royal Bank of Canada reiterated an “outperform” rating on February 20, 2024. Zacks Research upgraded Brookdale from “hold” to a “strong-buy” rating on February 18, 2024. Conversely, Weiss Ratings maintained a “sell (d-)” rating earlier in January.
As of the most recent evaluations, one analyst has assigned a Strong Buy rating, five have given it a Buy rating, and one has rated it as a Sell. According to MarketBeat.com, Brookdale currently holds a consensus rating of “Moderate Buy” with an average price target of $14.00.
On February 18, 2024, Brookdale Senior Living’s stock opened at $14.88. The company has demonstrated notable performance over the past year, with a 12-month trading range that has seen a low of $4.97 and a high of $17.09. Its current ratio stands at 0.98, while its debt-to-equity ratio is significantly high at 39.87.
Brookdale’s earnings report from February 18 revealed a loss of ($0.17) earnings per share, which was slightly below analysts’ consensus estimate of ($0.16). The company reported revenue of $754.09 million, surpassing the expected $753.60 million. Analysts predict Brookdale will post earnings per share of (-0.56) for the current year.
Company Overview
Brookdale Senior Living Inc. is one of the largest operators of senior living communities in the United States, offering a wide range of services including independent living, assisted living, memory care, continuing care retirement communities, respite care, and skilled nursing. The company operates over 700 communities across the United States and Puerto Rico, serving tens of thousands of residents.
Brookdale emphasizes wellness and social engagement, striving to enhance the quality of life for older adults. As the demand for senior living options continues to grow, the company remains a significant player in the sector, poised for future developments.
Overall, the recent investments and shifts in ratings underscore the evolving landscape within the senior living market, as stakeholders monitor Brookdale’s performance amid ongoing industry challenges.
