Bank of America Corp DE Takes Position in Brookdale Senior Living Inc. $BKD

Key Points

• Bank of America acquired 1.56 million Brookdale Senior Living shares worth approximately $25.1 million, giving it a 0.65% stake at the end of the second quarter.
• Brookdale reported quarterly EPS of $0.10, beating the consensus estimate of a $0.06 loss, although revenue of $718.6 million fell short of expectations and profitability metrics remained weak.
• Analyst sentiment is moderately positive, with an average price target of $17.40 versus the stock’s reported $11.16 price; however, targets range from a $17 Barclays target to a “sell” rating from Weiss Ratings.

Bank of America Corp DE acquired a new stake in Brookdale Senior Living Inc. (NYSE:BKD - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,560,747 shares of the company's stock, valued at approximately $25,112,000. Bank of America Corp DE owned 0.65% of Brookdale Senior Living at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BKD. The Manufacturers Life Insurance Company boosted its stake in Brookdale Senior Living by 1.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 109,632 shares of the company's stock valued at $1,500,000 after purchasing an additional 1,436 shares during the last quarter. Quantinno Capital Management LP grew its stake in Brookdale Senior Living by 4.5% in the 1st quarter. Quantinno Capital Management LP now owns 48,383 shares of the company's stock valued at $662,000 after purchasing an additional 2,095 shares during the period. Pictet Asset Management Holding SA grew its stake in Brookdale Senior Living by 5.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 38,801 shares of the company's stock valued at $531,000 after purchasing an additional 2,160 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Brookdale Senior Living during the 2nd quarter valued at $43,000. Finally, ProShare Advisors LLC raised its stake in shares of Brookdale Senior Living by 8.3% during the 4th quarter. ProShare Advisors LLC now owns 42,523 shares of the company's stock worth $459,000 after purchasing an additional 3,264 shares during the period.

Brookdale Senior Living Stock Performance

BKD stock opened at $11.16 on Thursday. Brookdale Senior Living Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $17.09. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -19.24, a price-to-earnings-growth ratio of 5.49 and a beta of 0.58. The business's 50 day moving average price is $12.97 and its two-hundred day moving average price is $13.54.

Brookdale Senior Living (NYSE:BKD - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.16. The company had revenue of $718.58 million for the quarter, compared to analyst estimates of $735.63 million. Brookdale Senior Living had a negative return on equity of 15,050.32% and a negative net margin of 4.53%. Sell-side analysts forecast that Brookdale Senior Living Inc. will post 0.06 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BKD. Barclays decreased their price target on shares of Brookdale Senior Living from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Tuesday, August 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Brookdale Senior Living in a research report on Monday, August 24th. Finally, Compass Point began coverage on shares of Brookdale Senior Living in a report on Monday, June 15th. They issued a "buy" rating and a $22.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Brookdale Senior Living has an average rating of "Moderate Buy" and an average price target of $17.40.

About Brookdale Senior Living

Brookdale Senior Living, Inc is a U.S.-based operator of senior living communities. The company provides housing, hospitality and supportive care for older adults through a range of living options, including independent living, assisted living, memory care and continuing care communities.

Brookdale's services are designed to support residents' daily living, wellness and social needs while offering varying levels of assistance as care requirements change. Its operations also include ancillary healthcare services, such as therapy, home health and hospice care, where available.

Headquartered in Brentwood, Tennessee, Brookdale serves residents across numerous states in the United States.

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