Feb. 12 at 4:49 PM
$BKD 🔥
Market still missing the leverage upside. BKD has ~
$4B+ of property-level mortgage debt, and ~
$1B+ of it is variable / near-term refi eligible. They already cleaned up ~
$600M of 2026–27 maturities, so now rate cuts go straight to the bottom line. Every 100 bps cut = tens of millions in interest savings, better coverage, more FCF, and a faster path to profitability. This is a rates + real estate + demographic setup.