Lineage, Inc. Declares Quarterly Dividend of $0.53 (NASDAQ:LINE)

Lineage, Inc. (NASDAQ:LINE) announced a quarterly dividend on Wednesday, March 19th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.5275 per share on Monday, April 21st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.50%.

Lineage Stock Performance

Shares of LINE opened at $60.32 on Thursday. The firm’s 50-day moving average price is $58.10 and its 200-day moving average price is $65.99. 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 has a 1-year low of $52.75 and a 1-year high of $89.85.

Wall Street Analyst Weigh In

LINE has been the topic of a number of research reports. Piper Sandler cut their target price on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada dropped their price objective 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. The Goldman Sachs Group dropped their price objective on shares of Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Mizuho dropped their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Scotiabank boosted their price objective on shares of Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 10th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

Insiders Place Their Bets

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

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.