Sumitomo Mitsui Trust Group Inc. Sells 211 Shares of Lineage, Inc. (NASDAQ:LINE)

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Lineage, Inc. (NASDAQ:LINE) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,480 shares of the company’s stock after selling 211 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Lineage were worth $3,777,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of LINE. Vontobel Holding Ltd. bought a new position in Lineage in the third quarter valued at approximately $1,026,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Lineage in the third quarter valued at approximately $3,582,000. Seven Grand Managers LLC bought a new position in Lineage in the third quarter valued at approximately $24,298,000. Harbour Capital Advisors LLC bought a new position in Lineage in the third quarter valued at approximately $380,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Lineage in the third quarter valued at approximately $867,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on LINE shares. Evercore ISI decreased their price target on Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Robert W. Baird cut their price objective on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Scotiabank cut their price objective on Lineage from $76.00 to $73.00 and set a “sector outperform” rating for the company in a research report on Monday, February 3rd. Mizuho cut their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, BNP Paribas began coverage on Lineage in a research report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lineage presently has an average rating of “Moderate Buy” and an average price target of $84.88.

Lineage Stock Down 0.6 %

NASDAQ:LINE opened at $56.22 on Friday. The stock has a 50 day simple moving average of $58.82 and a 200 day simple moving average of $70.72. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. Lineage, Inc. has a 1-year low of $52.75 and a 1-year high of $89.85.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st were issued a $0.5275 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.11 annualized dividend and a yield of 3.75%.

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.