Sometimes no news is good news. After two straight months of declines, Brookdale Senior
Living reported that December’s month-end occupancy remained flat with November at 78.1%.
That can be considered good news since we are in the beginning of what could be a terrible flu
and COVID season.
In addition, weighted average occupancy remained flat from November to December at 77.0%,
after dropping by 20 basis points in November. If they can hold the line for the next three
months, the company could start to see some improvement in the second quarter. Weighted
average occupancy peaked in October at 77.2%, while month-end occupancy peaked in
September at 78.4%.
So far this year, after a dismal 2022, Brookdale’s share price is up 6.2%. We will take it.
