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

Lineage, Inc. (NASDAQ:LINE) has earned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $81.06.

Several analysts recently issued reports on LINE shares. BNP Paribas initiated coverage on Lineage in a research note on Tuesday, January 14th. They set a “neutral” rating and a $61.00 target price on the stock. Robert W. Baird lowered their target price on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Mizuho cut their target price on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. downgraded shares of Lineage from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $78.00 to $75.00 in a report on Friday, December 20th. Finally, Citigroup initiated coverage on Lineage in a research report on Friday. They issued a “neutral” rating and a $64.00 target price on the stock.

Insider Buying and Selling

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of Lineage stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the transaction, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Lineage

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after buying an additional 448 shares during the last quarter. FIL Ltd purchased a new position in Lineage in the fourth quarter worth $29,000. Quarry LP acquired a new position in shares of Lineage during the fourth quarter worth $50,000. Stifel Financial Corp lifted its holdings in shares of Lineage by 30.5% during the 4th quarter. Stifel Financial Corp now owns 3,509 shares of the company’s stock valued at $206,000 after purchasing an additional 821 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of Lineage in the 4th quarter worth $208,000.

Lineage Trading Down 0.6 %

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

Lineage Dividend Announcement

The company 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 is Monday, March 31st. This represents a $2.11 dividend on an annualized basis 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.