Volume Spike Investor

Brookdale Senior Living Inc. (NYSE: BKD) is getting clipped a bit this morning after the senior housing player priced a 16.55 million common share secondary offering at $16.00 per share.  The deal is being sold by certain funds managed by affiliates of Fortress Investment Group LLC (NYSE: FIG), and represents an increase of 5,550,000 shares from the 11,000,000 shares previously announced. Shares closed at $16.46 yesterday and are trading down at $16.25 this morning at 9:00 AM EST on about 415,000 shares.  Average volume here is only about 745,000 shares and traders generally do not like to buy up private equity-backer shares unless they are at a solid discount.  The 52-week range is $2.50 to $20.69, but be advised that this was a $19.00 stock just five days ago.

JON OGG