- Brookdale Senior Living (BKD, Financial) calls shareholders to vote "FOR" its board nominees amidst proxy contest.
- Achieved an 80% occupancy rate with a strong strategic focus on operational improvements and portfolio optimization.
- Appointed two new independent directors, reducing board tenure and enhancing governance.
Brookdale Senior Living Inc. (BKD) has issued a definitive proxy statement for its upcoming 2025 Annual Meeting scheduled for July 11. The company urges shareholders to cast their votes "FOR" the existing eight board nominees using the BLUE proxy card. This comes amid a proxy contest initiated by investor Ortelius, which holds a 1% stake and aims to replace six board members.
Bolstering its appeal to shareholders, Brookdale highlights its robust Q1 2025 performance, showcasing an 80% occupancy rate, positive Adjusted Free Cash Flow, and promising financial metrics such as a 24.9% year-over-year RevPAR growth and a 90 basis points increase in operating margin. The company has also revised its 2025 guidance, projecting RevPAR growth between 5.00% and 5.75% and Adjusted EBITDA in the range of $440 million to $450 million.
In alignment with its strategic vision, Brookdale is actively optimizing its real estate portfolio by planning to exit 55 leased communities and divest 14 non-core owned properties by year-end. The company currently operates 619 consolidated communities, a significant downscale from over 1,000 previously.
Further enhancing its governance, Brookdale recently appointed two new independent directors: Joshua Hausman, effective April 24, 2025, and Mark Fioravanti, effective April 13, 2025. This refreshment has lowered the average board tenure to less than four years, aligning with Brookdale's commitment to strategic growth and operational excellence.
