Invesco Private Capital Boosts its Stake in Brookdale Senior Living, Inc. (BKD)
In a filing, Wilbur Ross’s Invesco Private Capital, revealed that it has significantly increased its position in Brookdale Senior Living, Inc. (NYSE:BKD) to 10.08 million shares from 6.22 million shares held at the end of the third quarter of 2013. The stake amasses 8.1% of the common stock of the company.
Brookdale Senior Living, Inc. (NYSE:BKD), owns and operates senior living communities in the U.S. Recently, the company released its results for the fourth quarter and FY2013. The total revenue for the fourth quarter was $734.2 million, representing a 5.0% increase over the quarter. For FY13, the company posted a revenue of $2.9 billion, which equals a healthy 4.5% increase in year-on-year terms.
Adjusted EBITDA surged by 18.1% in the fourth quarter to $129.1 million, compared to fourth quarter of 2013. The net loss for the fourth quarter was $1.0 million, versus a net loss of $24.7 million in the fourth quarter of 2012. Cash from Facility Operations for the fourth quarter amounted to $88.5 million, while for the full year it was $308.5 million.
Brookdale Senior Living, Inc. (NYSE:BKD), has also laid down the guidance for FY14, where the company expects Cash from Facility Operations to be between $2.68 and $2.75 per share, excluding integration, transaction-related and EMR roll-out costs.
Michael Novogratz’s Fortress Investment Group, is another hedge fund, which held 17.59 million shares of Brookdale Senior Living, Inc. (NYSE:BKD) at the end of the third quarter of 2013.
Invesco Private had 29.53% of its equity portfolio invested in Assured Guaranty Ltd. (NYSE:AGO), at the end of the third quarter of 2013. BankUnited (NYSE:BKU), stood on the second spot Invesco Private revealing a $255.44 million stake.