Trade Report: The Bank of America Corp. Downgrade Brookdale Senior Living Inc. (BKD) to Underperform

The Bank of America Corp. Downgrade Brookdale Senior Living Inc. (BKD) to Underperform

Brookdale Senior Living Inc. (NYSE:BKD) was downgraded by Bank of America Corp. from a “neutral” rating to an “underperform” rating in a note issued to investors on Wednesday. They presently have a $12.00 price target on the stock, up from their previous price target of $10.65. Bank of America Corp.’s price objective would suggest a potential downside of 1.56% from the stock’s previous close.

A number of other research firms have also recently issued reports on BKD. Zacks Investment Research upgraded shares of Brookdale Senior Living from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Jefferies Group set a $29.00 target price on shares of Brookdale Senior Living and gave the company a “buy” rating in a research note on Monday, September 19th. Wells Fargo & Co. cut shares of Brookdale Senior Living from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 2nd. JMP Securities cut their target price on shares of Brookdale Senior Living from $30.00 to $29.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 24th. Finally, RBC Capital Markets cut shares of Brookdale Senior Living from a “top pick” rating to an “outperform” rating and cut their target price for the company from $25.00 to $16.00 in a research note on Wednesday, November 2nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $18.38.

Brookdale Senior Living (NYSE:BKD) traded up 0.08% during midday trading on Wednesday, hitting $12.19. The stock had a trading volume of 796,984 shares. Brookdale Senior Living has a one year low of $10.65 and a one year high of $23.29. The stock’s 50-day moving average is $13.82 and its 200-day moving average is $16.35. The company’s market cap is $2.27 billion.

In other Brookdale Senior Living news, Director Frank M. Bumstead bought 15,000 shares of the stock in a transaction on Friday, November 4th. The stock was purchased at an average price of $12.03 per share, with a total value of $180,450.00. Following the acquisition, the director now owns 121,229 shares of the company’s stock, valued at $1,458,384.87. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. raised its stake in Brookdale Senior Living by 465.5% in the third quarter. Brookfield Asset Management Inc. now owns 8,587,315 shares of the company’s stock worth $149,849,000 after buying an additional 7,068,865 shares in the last quarter. BlackRock Advisors LLC raised its stake in Brookdale Senior Living by 4,288.8% in the third quarter. BlackRock Advisors LLC now owns 4,666,884 shares of the company’s stock worth $81,437,000 after buying an additional 4,560,548 shares in the last quarter. BlackRock Group LTD raised its stake in Brookdale Senior Living by 1,096.0% in the third quarter. BlackRock Group LTD now owns 1,860,270 shares of the company’s stock worth $32,462,000 after buying an additional 1,704,734 shares in the last quarter. Real Estate Management Services LLC acquired a new stake in Brookdale Senior Living during the second quarter worth approximately $20,402,000. Finally, Nuveen Asset Management LLC raised its stake in Brookdale Senior Living by 8,448.6% in the second quarter. Nuveen Asset Management LLC now owns 1,194,502 shares of the company’s stock worth $18,443,000 after buying an additional 1,180,529 shares in the last quarter.

Brookdale Senior Living Company Profile

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