Lineage, Inc. (NASDAQ:LINE) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Lineage, Inc. (NASDAQ:LINE) have been assigned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $81.06.

LINE has been the subject of several research analyst reports. Royal Bank of Canada reduced their price objective on Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. The Goldman Sachs Group reduced their target price on shares of Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. downgraded shares of Lineage from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $78.00 to $75.00 in a research report on Friday, December 20th. Citigroup began coverage on Lineage in a research report on Friday. They set a “neutral” rating and a $64.00 price target on the stock. Finally, Robert W. Baird reduced their price objective on Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th.

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 shares were bought at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the acquisition, the chairman now directly owns 24,317 shares of the company’s stock, valued at $1,471,178.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lineage

A number of hedge funds have recently modified their holdings of the business. TOMS Capital Investment Management LP acquired a new position in Lineage in the third quarter valued at about $15,676,000. JPMorgan Chase & Co. acquired a new position in shares of Lineage in the 3rd quarter worth approximately $12,542,000. Principal Financial Group Inc. purchased a new position in shares of Lineage during the 3rd quarter worth approximately $173,115,000. Renaissance Capital LLC boosted its position in shares of Lineage by 25.6% during the 4th quarter. Renaissance Capital LLC now owns 83,446 shares of the company’s stock worth $4,887,000 after purchasing an additional 16,990 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC raised its position in Lineage by 10.5% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 602,803 shares of the company’s stock valued at $35,306,000 after purchasing an additional 57,302 shares during the period.

Lineage Stock Performance

Shares of LINE stock opened at $58.63 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. The business has a fifty day moving average of $58.58 and a 200 day moving average of $64.58. Lineage has a 1 year low of $52.75 and a 1 year high of $89.85.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be issued a $0.5275 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 3.60%.

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.