Peapack Gladstone Financial Corp Sells 1,017 Shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE)

Peapack Gladstone Financial Corp lowered its position in shares of Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,086 shares of the real estate investment trust’s stock after selling 1,017 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Alexandria Real Estate Equities were worth $2,446,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in Alexandria Real Estate Equities by 57.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 298 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 109 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Alexandria Real Estate Equities during the third quarter worth approximately $43,000. Spire Wealth Management raised its stake in shares of Alexandria Real Estate Equities by 72.5% during the fourth quarter. Spire Wealth Management now owns 595 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 250 shares during the last quarter. Versant Capital Management Inc boosted its stake in Alexandria Real Estate Equities by 129.9% in the fourth quarter. Versant Capital Management Inc now owns 745 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 421 shares during the last quarter. Finally, Sherman Asset Management Inc. acquired a new stake in Alexandria Real Estate Equities during the 4th quarter worth $75,000. Institutional investors own 96.54% of the company’s stock.

Alexandria Real Estate Equities Stock Performance

Shares of ARE opened at $77.81 on Tuesday. The firm has a market cap of $13.47 billion, a P/E ratio of 43.23, a PEG ratio of 3.93 and a beta of 1.24. Alexandria Real Estate Equities, Inc. has a twelve month low of $76.50 and a twelve month high of $130.14. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.21 and a current ratio of 0.21. The firm’s 50 day moving average price is $96.25 and its two-hundred day moving average price is $104.06.

Alexandria Real Estate Equities (NYSE:ARE) last announced its earnings results on Monday, January 27th. The real estate investment trust reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $1.48. Alexandria Real Estate Equities had a net margin of 10.36% and a return on equity of 1.43%. On average, analysts forecast that Alexandria Real Estate Equities, Inc. will post 9.32 EPS for the current fiscal year.

Alexandria Real Estate Equities announced that its board has initiated a stock repurchase program on Monday, December 9th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Alexandria Real Estate Equities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.32 per share. The ex-dividend date is Monday, March 31st. This represents a $5.28 annualized dividend and a yield of 6.79%. Alexandria Real Estate Equities’s dividend payout ratio (DPR) is presently 293.33%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ARE. Jefferies Financial Group initiated coverage on Alexandria Real Estate Equities in a research note on Monday, March 17th. They issued a “hold” rating and a $100.00 price target on the stock. JMP Securities restated a “market outperform” rating and set a $130.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. Royal Bank of Canada decreased their target price on Alexandria Real Estate Equities from $125.00 to $114.00 and set a “sector perform” rating for the company in a research report on Tuesday, December 17th. StockNews.com upgraded shares of Alexandria Real Estate Equities from a “sell” rating to a “hold” rating in a research report on Thursday, April 3rd. Finally, Wedbush restated a “neutral” rating and set a $104.00 price objective on shares of Alexandria Real Estate Equities in a report on Wednesday, January 29th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Alexandria Real Estate Equities currently has a consensus rating of “Hold” and an average target price of $118.60.

Alexandria Real Estate Equities Profile

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.