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Lee S. Wielansky, a director at Brookdale Senior Living Inc. (NYSE:BKD), sold 10,000 shares of the company’s common stock on March 7, according to a recent SEC filing. The shares were sold at a weighted average price of $5.8421, resulting in a total transaction value of $58,421. This sale was executed automatically under a Rule 10b5-1 trading plan that Wielansky adopted on December 6, 2024. Following this transaction, Wielansky still holds 233,836 shares in the company. The shares were sold in multiple trades with prices ranging from $5.760 to $5.905. The stock has demonstrated resilience with a 14.3% year-to-date return, though InvestingPro analysis reveals 6 additional key insights about the company’s financial health and market position available to subscribers.
In other recent news, Brookdale Senior Living has completed a significant refinancing move, securing a $344.2 million loan to repay $312.5 million of variable rate debt due in 2027. This refinancing was achieved through a Master Credit Facility Agreement with JLL Real Estate Capital, leveraging Fannie Mae (OTC:FNMA)’s DUS Program. The new loan offers a fixed interest rate of 6.14% with interest-only payments for the first two years, maturing in January 2032, effectively lowering the interest cost from the previous 7.20% variable rate. Additionally, Brookdale has amended its lease agreement with Ventas (NYSE:VTR), which includes continuing to lease 65 properties while Ventas transitions or sells the remaining 55 non-renewal properties. The annual minimum rent for renewal properties is approximately $64 million, with a 3% escalator starting in 2027. Jefferies has maintained its Buy rating for Brookdale, emphasizing the resolution of capital structure uncertainties and projecting benefits from demographic trends and market dynamics. These developments are expected to enhance Brookdale’s financial performance, allowing the company to focus on growth and operational execution.
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