Brookdale Senior Living's Occupancy Jumps 140 Points

By Bobby Samwell • Wednesday, July 10 15:16 • Permanent Link

Brookdale Senior Living Inc. (NYSE: BKD) has released its report on consolidated occupancy for June 2024. The company's June 2024 weighted average occupancy increased by 140 basis points over the prior year to 78.2%. This growth was supported by move-in volumes above pre-pandemic averages and move-outs below the prior year period, as adjusted for dispositions.

Sequentially, June's weighted average occupancy grew by 10 basis points, while June month-end occupancy grew by 20 basis points. This supported a second quarter 2024 weighted average sequential occupancy increase of 20 basis points compared to the first quarter of 2024.

Both June and second quarter weighted average occupancy results reflected a continued outperformance versus pre-pandemic normal seasonality. The second quarter weighted average occupancy increased by 160 basis points compared to the prior year quarter, indicating a strong upward trend.

Brookdale Senior Living Inc. operates independent living, assisted living, memory care, and continuing care retirement communities. As of June 30, 2024, the company operates and manages 649 communities in 41 states, with the ability to serve approximately 59,000 residents. Today the company's shares have moved -2.3% to a price of $6.99. If you want to know more, read the company's complete 8-K report here.

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