Antipodes Partners Ltd., a Sydney-based global asset management firm currently overseeing approximately US$13 billion in client assets, has issued a letter to fellow shareholders and the Board of Directors of Brookdale Senior Living (NYSE: BKD).
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The asset manager highlights attractive fundamentals of the senior housing industry and estimates that the intrinsic value of BKD shares may exceed $30 per share, compared to a 52-week trading range of $4.45 to $8.12. Antipodes expresses concern that it may not be alone in recognizing the significant disparity between the company’s intrinsic value and its share price, and asserts that the Board and management ought to take more decisive action to address this gap. The firm contends that continued inaction may expose existing BKD shareholders to the risk of a potential change of control at a premium which, although appearing consistent with the recent trading range, would reflect a valuation substantially below the intrinsic worth of BKD’s property assets and lease management rights.
Antipodes’ letter outlines a series of recommended actions for the Board’s consideration and calls upon management to deliver a forward-looking strategic update that clearly defines the intrinsic value of the company’s property portfolio and sets forth a long-term growth strategy.
Read the full letter: https://antipodes.com/Antipodes-Brookdale-Letter.pdf
About Antipodes Partners Ltd.
Established in 2015, Antipodes is a Sydney-based investment manager that specializes in global and emerging markets shares.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250409393082/en/
Contacts
Max Shramchenko, Portfolio Manager
BKD@antipodes.com
