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

Peapack Gladstone Financial Corp lessened its position in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 25,086 shares of the real estate investment trust’s stock after selling 1,017 shares during the period. Peapack Gladstone Financial Corp’s holdings in Alexandria Real Estate Equities were worth $2,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Alexandria Real Estate Equities during the fourth quarter worth about $1,605,426,000. JPMorgan Chase & Co. lifted its position in shares of Alexandria Real Estate Equities by 212.9% in the fourth quarter. JPMorgan Chase & Co. now owns 8,265,880 shares of the real estate investment trust’s stock valued at $806,337,000 after buying an additional 5,624,163 shares during the last quarter. PGGM Investments boosted its stake in shares of Alexandria Real Estate Equities by 3,602.0% during the 4th quarter. PGGM Investments now owns 958,857 shares of the real estate investment trust’s stock worth $93,537,000 after acquiring an additional 932,956 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Alexandria Real Estate Equities during the 4th quarter worth approximately $34,170,000. Finally, Analyst IMS Investment Management Services Ltd. raised its stake in Alexandria Real Estate Equities by 170.1% in the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 486,103 shares of the real estate investment trust’s stock valued at $47,419,000 after acquiring an additional 306,145 shares during the period. 96.54% of the stock is currently owned by institutional investors and hedge funds.

Alexandria Real Estate Equities Price Performance

Alexandria Real Estate Equities stock opened at $77.81 on Tuesday. The firm has a market cap of $13.47 billion, a PE ratio of 43.23, a price-to-earnings-growth ratio of 3.93 and a beta of 1.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.21 and a quick ratio of 0.21. The stock’s fifty day moving average price is $96.25 and its two-hundred day moving average price is $104.06. Alexandria Real Estate Equities, Inc. has a one year low of $76.50 and a one year high of $130.14.

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

Alexandria Real Estate Equities declared that its Board of Directors has approved a stock repurchase plan on Monday, December 9th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Alexandria Real Estate Equities Dividend Announcement

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

Wall Street Analyst Weigh In

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

About Alexandria Real Estate Equities

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.