Alpha Gen Capital
Alpha Gen Capital
Wed, Feb. 17, 5:38 PM
Tue, Feb. 9, 12:05 PM
- Healthcare facility owners are seeing steep losses after HCP (HCP -14.8%), Brookdale Senior Living (BKD -16%), and Medical Properties Trust (MPW -3.8%) issued soft 2016 guidance with their Q4 beats.
- HCP reported Q4 FFO/share of $0.80 (beat by $0.02), but guided for 2016 FFO/share of $2.74-$2.80 vs. a $3.16 consensus. Brookdale reported Q4 CFFO/share of $0.58 (beat by $0.12), but guided for 2016 CFFO of $2.45-$2.55 vs. a $2.62 consensus. MPW reported Q4 FFO/share of $0.35 (beat by $0.01), but guided for 2016 FFO/share of $1.29-$1.33 vs. a $1.33 consensus.
- In addition to HCP/Brookdale/MPW, the casualty list includes Omega Healthcare Investors (OHI -9.6%), Capital Senior Living (CSU -6.2%), Five Star Quality Care (FVE -7%), Welltower (HCN -9%), Genesis Healthcare (GEN -9.6%), , Sabra Health Care REIT (SBRA -6.3%), National Health Investors (NHI -4.6%), Ventas (VTR -5.9%), and Physicians Realty Trust (DOC -3.9%).
Nov. 2, 2015, 7:10 PM
- Brookdale Senior Living (NYSE:BKD) +15.3% AH after announcing additions to its C-suite: Labeed Diab will join the company as COO on Nov. 16 and Lucinda Baier will start as the new CFO on Dec. 1.
- Diab most recently served as president of health and wellness for Walmart's U.S. division, while Baier joins BKD from Navigant Consulting.
- Mark Ohlendorf will step down as CFO and remain as president.
Oct. 8, 2015, 10:46 AM
Aug. 4, 2015, 9:55 AM
- "Our near-term operating performance was below our expectations," says Brookdale (BKD -7%) CEO Andy Smith after the company missed Q2 estimates. He notes the typical seasonal increase in occupancy occurred late in the quarter and was more muted than usual, and was only partly offset by better rates, managing costs, and growing synergies (Emeritus merger).
- Full-year CFFO (cash from facility operations) guidance is cut to $2.35-$2.45 per share.
- Previously: Brookdale Senior Living misses by $0.03, beats on revenue (Aug. 3)
Apr. 8, 2015, 3:10 PM
Jan. 26, 2015, 11:29 AM
- Brookdale Senior Living (BKD -10%) slumps on a 3x spike in volume after the company announced that it expects to report Q4 cash from facility operations (CFFO) of $0.53 per share, which is $0.10 lower that Q3's $0.63.
- Management lowered its 2015 CFFO guidance to $2.60 - 2.75 from $2.95 - 3.10.
- The company plans to report Q4 and full-year results on February 4 after the close. The conference call be held the next day, February 5, at 10:00 am ET.
- Consensus view for Q4 and 2014 are EPS of $0.64 and $2.60 on revenues of $1.23B and $3.81B, respectively.
Sep. 9, 2014, 9:22 AM
- The offering was upsized to 8.955M shares from 8.75M and it priced at $33.50 each for net proceeds of about $287.1M. The underwriters have a greenshoe option to buy another 1.343M shares at that price.
- Proceeds will be used to fund the exercise of purchase options on certain communities currently leased to the company. Brookdale (NYSE:BKD) will also pay of certain debt carrying a weighted-average interest rate of 7.3%.
- Shares -0.9% premarket to $34.20.
Jul. 16, 2014, 12:18 PM
- Brookdale Senior Living (BKD +1.8%) is the upside outlier in senior living names today after Goldman initiates coverage with a Buy rating and $44 price target.
- Goldman rattled a few feathers earlier this month when it downgraded the Healthcare REIT sector, citing a preference for more economically-sensitive areas. Alongside that sector call, the team also pulled its Buy rating on Omega Healthcare.
May 28, 2014, 9:42 AM
- Brookdale Senior Living (BKD) prices the 19.4M shares offered by Fortress Investment Group at $33 each.
- The stock's ahead 1% in early action to $33.50.
- Previously: Brookdale -2% as Fortress sets sale of nearly 20M shares
May 27, 2014, 4:18 PM
- Fortress Investment Group is unloading 19.4M shares of its stake in Brookdale in a secondary offering. Brookdale (BKD) will not receive any proceeds.
- Shares -2% AH
Feb. 21, 2014, 10:05 AM
- "The combination will put Brookdale's (BKD +4.3%) market share in the private pay residential/senior housing market at ~10% and will offer numerous strategic and financial benefits," says analyst Darren Lehrich, maintaining his Buy rating on BKD and boosting the price target $3 to $38. "We conclude that the deal puts an exclamation point on the value of BKD's infrastructure and leadership position in the senior living space, and it should accelerate the value of ESC's portfolio over the mid/long-term ... Synergies should have upside risks."
- ESC +35%
- Earlier coverage of the deal
Feb. 20, 2014, 5:09 PM
- Brookdale Senior Living (BKD) is merging with fellow retirement home owner Emeritus (ESC) in a deal the companies state will create "the only nationwide network of senior living communities with fully integrated ancillary services across the continuum of care."
- Emeritus shareholders will receive 0.95 shares of Brookdale common stock for each Emeritus share they own. Based on today's close, the deal values Emeritus at $28.59/share, a 33% premium.
- Brookdale CEO Andy Smith will be CEO of the combined companies. Assuming regulators approve, the deal is expected to close in Q3.
- BKD -1.2% AH. Emeritus is currently trading at $27.
Jan. 14, 2013, 3:42 PM
Brookdale Senior Living (BKD +2.8%) gets a boost today from an upgrade to Buy on valuation at Sidoti with a $32 price target. Once all the politics have been hashed out, clarity on rate cuts and expansion of coverage due to changes in health care laws means more customers and growth long term growth prospects prospects for the health care industrty, and BKD is going to be one of its prime beneficiaries.| Jan. 14, 2013, 3:42 PM | 2 Comments
Sep. 27, 2012, 2:54 PM
Brookdale Senior Living (BKD +6.4%) shares are riding high after Bloomberg says the company could be the next takeover target in the senior living space. BKD has the group's lowest valuation relative to cash flow, and operating margin is projected to reach a record high next quarter, Bloomberg calculates. Its stock price "doesn’t really reflect the improving fundamentals," an analyst says.| Sep. 27, 2012, 2:54 PM | 5 Comments
Aug. 22, 2012, 9:10 AM