Lineage (NASDAQ:LINE) Price Target Cut to $70.00 by Analysts at Robert W. Baird

Lineage (NASDAQ:LINE) had its price target trimmed by Robert W. Baird from $76.00 to $70.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. BNP Paribas initiated coverage on shares of Lineage in a report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 target price on the stock. Mizuho dropped their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Piper Sandler cut their target price on Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday. Scotiabank decreased their price target on Lineage from $76.00 to $73.00 and set a “sector outperform” rating on the stock in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut shares of Lineage from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $78.00 to $75.00 in a research report on Friday, December 20th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.41.

Lineage Stock Performance

NASDAQ:LINE opened at $59.66 on Thursday. 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 stock’s 50 day moving average price is $57.71 and its two-hundred day moving average price is $68.58. Lineage has a 12-month low of $52.75 and a 12-month high of $89.85.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st were issued a $0.5275 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.54%.

Institutional Investors Weigh In On Lineage

Institutional investors have recently bought and sold shares of the stock. DigitalBridge Group Inc. bought a new position in Lineage during the 4th quarter valued at $5,195,000. Woodline Partners LP boosted its holdings in Lineage by 0.3% during the fourth quarter. Woodline Partners LP now owns 310,899 shares of the company’s stock worth $18,209,000 after purchasing an additional 899 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in Lineage by 4.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 8,910 shares of the company’s stock valued at $526,000 after buying an additional 340 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of Lineage in the 4th quarter worth approximately $378,000. Finally, Needham Investment Management LLC grew its holdings in shares of Lineage by 84.0% in the fourth quarter. Needham Investment Management LLC now owns 11,500 shares of the company’s stock valued at $674,000 after acquiring an additional 5,250 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.