Last month’s capital raise caused Brookdale Senior Living’s shares to plunge 40%, and now November occupancy is on a downward path as well. Perhaps that is why they needed the new capital, and we are just barely in the flu season.
Weighted average occupancy dropped by 20 basis points in November to 77.0%, and month-end census fell by a smaller 10 basis points to 78.1%. But month-end occupancy has now dropped two months in a row. These are small declines, but symptomatic of problems. The company needs some help. It has been offered in terms of refreshing the Board, but to no avail….
Perhaps it is time that Brookdale finally hires Second Act Financial Services to help its customers move in.
