Analysts Set Lineage, Inc. (NASDAQ:LINE) Price Target at $81.06

Shares of Lineage, Inc. (NASDAQ:LINE) have been given an average recommendation of “Moderate Buy” by the nineteen research firms that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $79.67.

LINE has been the subject of several research analyst reports. Royal Bank of Canada reduced their price target on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Mizuho decreased their target price on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. 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. Scotiabank lifted their target price on Lineage from $73.00 to $74.00 and gave the company a “sector outperform” rating in a research note on Monday, March 10th. Finally, The Goldman Sachs Group dropped their target price on Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 17th.

Insider Transactions at Lineage

In other news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the transaction, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

Lineage Stock Down 3.7 %

Shares of LINE opened at $54.35 on Tuesday. The company has a 50-day moving average of $58.30 and a two-hundred day moving average of $63.97. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. Lineage has a one year low of $52.75 and a one year high of $89.85.

Lineage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be issued a dividend of $0.5275 per share. The ex-dividend date is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 3.88%.

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.