Royal Bank of Canada Sells 591,863 Shares of Brookdale Senior Living Inc. $BKD

Key Points

• Royal Bank of Canada cut its Brookdale Senior Living stake by 47.4% in the first quarter, selling 591,863 shares and retaining 656,325 shares worth approximately $8.98 million.
• Several major institutions increased their positions, including WCM Investment Management, which initiated a stake valued at $171.7 million, while Wellington Management and Maple Rock Capital Partners also added shares.
• Analysts maintain a “Moderate Buy” consensus on BKD, with an average price target of $17.60 versus the stock’s recent price of $14.27; targets range from a $22 buy target to a sell rating.

Royal Bank of Canada trimmed its holdings in Brookdale Senior Living Inc. (NYSE:BKD - Free Report) by 47.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 656,325 shares of the company's stock after selling 591,863 shares during the period. Royal Bank of Canada owned approximately 0.27% of Brookdale Senior Living worth $8,978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BKD. WCM Investment Management LLC purchased a new stake in shares of Brookdale Senior Living during the first quarter worth $171,681,000. Wellington Management Group LLP lifted its holdings in Brookdale Senior Living by 24.5% during the 3rd quarter. Wellington Management Group LLP now owns 11,609,307 shares of the company's stock worth $98,331,000 after purchasing an additional 2,282,151 shares in the last quarter. Maple Rock Capital Partners Inc. boosted its stake in Brookdale Senior Living by 34.9% in the 4th quarter. Maple Rock Capital Partners Inc. now owns 8,497,048 shares of the company's stock worth $91,683,000 after purchasing an additional 2,199,000 shares during the period. Renaissance Technologies LLC boosted its stake in Brookdale Senior Living by 20.4% in the 1st quarter. Renaissance Technologies LLC now owns 7,663,564 shares of the company's stock worth $104,838,000 after purchasing an additional 1,300,100 shares during the period. Finally, Bank of America Corp DE grew its holdings in Brookdale Senior Living by 3.8% during the 2nd quarter. Bank of America Corp DE now owns 6,507,559 shares of the company's stock valued at $45,293,000 after buying an additional 238,042 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BKD. Compass Point assumed coverage on shares of Brookdale Senior Living in a report on Monday, June 15th. They issued a "buy" rating and a $22.00 price target on the stock. Weiss Ratings lowered shares of Brookdale Senior Living from a "sell (d)" rating to a "sell (d-)" rating in a report on Wednesday, May 27th. Finally, Zacks Research cut shares of Brookdale Senior Living from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Brookdale Senior Living has a consensus rating of "Moderate Buy" and an average price target of $17.60.

Brookdale Senior Living Trading Up 0.3%

BKD opened at $14.27 on Monday. The stock has a market capitalization of $3.41 billion, a P/E ratio of -16.59 and a beta of 0.60. The stock has a 50-day moving average price of $14.32 and a 200-day moving average price of $14.23. Brookdale Senior Living Inc. has a 12-month low of $6.99 and a 12-month high of $17.09.

Brookdale Senior Living Company Profile

Brookdale Senior Living Inc NYSE: BKD is one of the nation's largest operators of senior living communities, offering a full spectrum of living options that includes independent living, assisted living, memory care, continuing care retirement communities, respite care and skilled nursing services. The company emphasizes programs and amenities that support wellness, social engagement and overall quality of life for older adults.

Across the United States and Puerto Rico, Brookdale manages more than 700 communities serving tens of thousands of residents.

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