Lineage (NASDAQ:LINE) Earns Neutral Rating from Analysts at Citigroup

Citigroup initiated coverage on shares of Lineage (NASDAQ:LINE) in a research note released on Friday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $64.00 price target on the stock.

Other analysts also recently issued research reports about the company. Piper Sandler cut their price target on Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. downgraded shares of Lineage from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $78.00 to $75.00 in a research report on Friday, December 20th. Scotiabank boosted their price objective on Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 10th. BNP Paribas started coverage on Lineage in a research report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 target price on the stock. Finally, The Goldman Sachs Group reduced their price target on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lineage presently has a consensus rating of “Moderate Buy” and an average price target of $81.06.

Lineage Trading Down 1.5 %

LINE opened at $58.98 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $58.57 and its 200 day moving average price is $64.74. Lineage has a fifty-two week low of $52.75 and a fifty-two week high of $89.85.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Monday, March 31st.

Insider Buying and Selling

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the acquisition, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Lineage

Several hedge funds have recently made changes to their positions in LINE. Norges Bank acquired a new stake in Lineage during the 4th quarter valued at $681,572,000. Vanguard Group Inc. raised its position in Lineage by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company’s stock valued at $562,003,000 after buying an additional 408,526 shares during the period. D1 Capital Partners L.P. lifted its stake in Lineage by 257.5% in the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company’s stock worth $219,848,000 after acquiring an additional 2,703,598 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Lineage during the 3rd quarter worth about $265,895,000. Finally, Janus Henderson Group PLC grew its stake in Lineage by 92.1% during the 4th quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company’s stock valued at $189,380,000 after acquiring an additional 1,550,478 shares in the last quarter.

About Lineage

Lineage, Inc is the world’s largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world’s largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.