M&T Bank Corp Takes $356,000 Position in Lineage, Inc. (NASDAQ:LINE)

M&T Bank Corp acquired a new position in shares of Lineage, Inc. (NASDAQ:LINE) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,548 shares of the company’s stock, valued at approximately $356,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Lineage in the third quarter worth $658,000. Perpetual Ltd purchased a new position in Lineage during the 3rd quarter worth $324,000. Renaissance Capital LLC acquired a new position in Lineage during the 3rd quarter valued at about $5,209,000. Vontobel Holding Ltd. purchased a new stake in Lineage in the third quarter valued at about $1,026,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Lineage in the third quarter worth about $3,582,000.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LINE shares. Evercore ISI cut their price objective on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Wells Fargo & Company raised their price target on shares of Lineage from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. The Goldman Sachs Group dropped their price objective on shares of Lineage from $104.00 to $89.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Royal Bank of Canada reduced their target price on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Finally, Scotiabank dropped their price target on Lineage from $94.00 to $76.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.63.

Lineage Trading Down 1.7 %

LINE opened at $59.52 on Thursday. The company has a fifty day moving average price of $68.32. Lineage, Inc. has a 1 year low of $59.52 and a 1 year 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 (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company posted $0.75 EPS. The company’s revenue was up .5% on a year-over-year basis. On average, research analysts forecast that Lineage, Inc. will post 3 EPS for the current year.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.5275 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.11 dividend on an annualized basis and a yield of 3.55%.

Lineage Company Profile

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.