Shares of senior living provider Brookdale Senior Living (NYSE:BKD) jumped 7.5% in the afternoon session after the stock's positive momentum continued as RBC Capital reiterated its "Outperform" rating and $17 price target.

The investment firm expressed increased confidence in Brookdale's long-term market position, highlighting strong long-term trends in the senior housing sector. RBC Capital also noted it gained a greater appreciation of Brookdale's ability to capitalize on favorable supply and demand dynamics following the company's investor day.

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Brookdale’s shares are quite volatile and have had 18 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

Brookdale is up 49.3% since the beginning of the year, and at $16.19 per share, has set a new 52-week high. Investors who bought $1,000 worth of Brookdale’s shares 5 years ago would now be looking at an investment worth $3,205.

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