Brookdale Senior Living is investing $9.5 million to expand Alzheimer's capabilities in two of the company's Georgia facilities.
The company will construct an $8 million single-story building at Brookdale Roswell that will offer services for 36 people with dementia. The project is expected to finished by the spring of 2016.
The company is also investing $1.5 million in Brookdale Historic Roswell for an Alzheimer's and dementia care floor. The project expands the current number of dementia-care apartments from 19 to 34.
The two projects are planned in response to rising rates of Alzheimer's in Georgia. The company anticipated 190,000 Georgians will be diagnosed by 2025.
"Behind these numbers are seniors and families in need of high-quality care and support," Reg Strickland, Brookdale Roswell executive director, said in a release. "In expanding the dementia care programming available in Roswell, we seek to help more individuals and their loved ones confronting this issue."
Shares of Genesco are getting a boost today thanks to C.L. King analyst Steven Marotta, who has hiked his rating on the Nashville-based company to 'strong buy' from 'buy.' As of 11:10 a.m., Genesco (Ticker: GCO) was up almost 5 percent to $60.65. The shares are still down about 20 percent year to date, though.
Brookdale Senior Living stock is headed in the other direction today, thanks to Kevin Fischbeck at Bank of America Merrill Lynch's downgrade of the company to 'neutral.' Fischbeck's call comes a day after Brian Tanquilut at Jefferies trimmed his price target for Brookdale to $40 from $44. Late this morning, Brookdale (Ticker: BKD) was trading at $23 and change.
And lastly, Roger Read at Wells Fargo has grown more constructive on several parts of the energy sector. That led him to lift his ratings this week on Delek US Holdings and other oil refiners to 'outperform' from 'market perform.' Delek shares (Ticker: DK) are up slightly Thursday to about $27.50 and are flat year to date.
Granger Cobb, the former CEO of Emeritus who merged that company into Brookdale Senior Living in the middle of last year, died this week at age 54. Cobb had led Emeritus since 2007 and, in a statement, Brookdale CEO Andy Smith called him "a true pioneer and leader in our industry."
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