BKD
Brookdale Senior Living Inc
Finance/Real Estate
04/13/2015
Presented
| Date | 04/09/2015 |
| Price | $38.74 |
| Market Cap | $7.11B |
| Ent Value | $13.27B |
| P/E Ratio | N/A |
| Book Value | $15.71 |
| Div Yield | N/A |
| Shares O/S | 0.00M |
| Ave Daily Vol | 2,220,000 |
| Short Int | 5.47% |
Current
| Price | $6.07 |
| Market Cap | $1.20B |
| Brookdale Senior Living Inc. owns and operates senior living communities in the United States. It operates through five segments: Retirement Centers, Assisted Living, Continuing Care Retirement Communities (CCRCs)–Rental, Brookdale Ancillary Services, and Management Services. The Retirement Centers segment owns or leases communities comprising independent living and assisted living units in a single community that are primarily designed for middle to upper income senior citizens. The Assisted Living segment owns or leases communities consisting of freestanding, multi-story communities, and freestanding single story communities, which offer housing and 24-hour assistance with activities of daily life to mid-acuity frail and elderly residents. This segment also operates memory care communities for residents with Alzheimer's disease and other dementias. The CCRCs-Rental segment owns or leases communities that offer various living arrangements and services to accommodate various levels of physical ability and health. The Brookdale Ancillary Services segment provides outpatient therapy, home health, and hospice services to residents of its communities, as well as to other senior living communities. The Management Services segment operates communities under the management agreements. As of December 31, 2014, it operated 148 retirement center communities with 26,514 units; 915 assisted living communities with 62,697 units; and 80 rental CCRC communities with 21,648 units, as well as owned or leased 982 communities with 83,176 units and provided management services with respect to 161 communities with 27,683 units for third parties. Brookdale Senior Living Inc. is headquartered in Brentwood, Tennessee. |
Publicly traded companies mentioned herein: Brookdale Senior Living (BKD)
Highlights
With Sandell Asset Management now a 13D-filed activist shareholder in Brookdale Senior Living, many are expecting that the company will soon either convert into a REIT or sell itself to an existing REIT. Whether or not that comes to pass, the presenter for his part believes that BKD will likely continue to be a tax efficient vehicle for at least the next three years. Even absent the financial engineering angle to the story, he believes the stock is well positioned to outperform given BKD’s private pay revenue base, solid strategic positioning, favorable demographic tailwinds, and potential pricing opportunities arising in part from the company’s past Emeritus acquisition.
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