Lineage, Inc. (NASDAQ:LINE) Receives $81.06 Consensus Price Target from Brokerages

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

Several research analysts have recently commented on LINE shares. Piper Sandler decreased their price target on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group decreased their target price on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, January 17th. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $78.00 to $75.00 in a research report on Friday, December 20th. Morgan Stanley reduced their price objective on Lineage from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Tuesday, April 1st. Finally, Scotiabank increased their target price on Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 10th.

Lineage Stock Performance

LINE stock opened at $54.35 on Tuesday. Lineage has a 1-year low of $52.75 and a 1-year high of $89.85. The firm has a fifty day moving average price of $58.30 and a two-hundred day moving average price 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 Dividend Announcement

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

Insider Activity at Lineage

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $60.50 per share, with a total value 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 $1,471,178.50. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Lineage

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Lineage in the 4th quarter worth approximately $681,572,000. Vanguard Group Inc. grew its position in Lineage by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company’s stock worth $562,003,000 after buying an additional 408,526 shares during the last quarter. D1 Capital Partners L.P. increased its holdings in shares of Lineage by 257.5% in the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company’s stock valued at $219,848,000 after buying an additional 2,703,598 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Lineage during the 3rd quarter valued at $265,895,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Lineage by 92.1% during the 4th quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company’s stock worth $189,380,000 after acquiring an additional 1,550,478 shares in the last quarter.

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.