Lineage (NASDAQ:LINE) Now Covered by Analysts at Citigroup

Citigroup started coverage on shares of Lineage (NASDAQ:LINE) in a research report report published on Friday, Marketbeat.com reports. The brokerage issued a neutral rating and a $64.00 target price on the stock.

Several other research firms have also recently commented on LINE. The Goldman Sachs Group lowered their price target on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a report on Friday, January 17th. Mizuho lowered their target price on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada cut their price target on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. JPMorgan Chase & Co. lowered shares of Lineage from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $78.00 to $75.00 in a report on Friday, December 20th. Finally, Robert W. Baird dropped their price objective on Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Eight equities research 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 MarketBeat, Lineage currently has an average rating of “Moderate Buy” and a consensus price target of $81.06.

Lineage Trading Down 1.5 %

LINE stock opened at $58.98 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. Lineage has a 52-week low of $52.75 and a 52-week high of $89.85. The stock’s fifty day simple moving average is $58.57 and its 200-day simple moving average is $64.98.

Lineage Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.58%.

Insider Transactions at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the stock in a transaction dated 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 purchase, the chairman now directly owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Lineage

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

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.