Westpac Banking Corp Sells 1,349 Shares of Lineage, Inc. (NASDAQ:LINE)

Westpac Banking Corp cut its stake in Lineage, Inc. (NASDAQ:LINE) by 7.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,657 shares of the company’s stock after selling 1,349 shares during the quarter. Westpac Banking Corp’s holdings in Lineage were worth $917,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in Lineage by 1.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company’s stock valued at $595,000 after buying an additional 185 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Lineage by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company’s stock valued at $1,740,000 after purchasing an additional 291 shares during the last quarter. M&T Bank Corp grew its position in shares of Lineage by 9.7% in the fourth quarter. M&T Bank Corp now owns 4,987 shares of the company’s stock valued at $292,000 after purchasing an additional 439 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Lineage by 7,466.7% during the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 448 shares during the period. Finally, EPIQ Capital Group LLC lifted its holdings in Lineage by 10.9% during the 4th quarter. EPIQ Capital Group LLC now owns 5,100 shares of the company’s stock worth $301,000 after purchasing an additional 500 shares during the last quarter.

Wall Street Analysts Forecast Growth

LINE has been the topic of a number of research reports. Citigroup initiated coverage on Lineage in a report on Friday, March 28th. They issued a “neutral” rating and a $64.00 price objective on the stock. Scotiabank upped their price target on shares of Lineage from $73.00 to $74.00 and gave the company a “sector outperform” rating in a research note on Monday, March 10th. Royal Bank of Canada dropped their price objective on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Piper Sandler cut their price objective 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. Finally, JPMorgan Chase & Co. cut shares of Lineage from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $78.00 to $75.00 in a report on Friday, December 20th. Eight 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 stock. According to data from MarketBeat, Lineage has a consensus rating of “Moderate Buy” and an average target price of $79.67.

Lineage Trading Down 3.7 %

Shares of LINE opened at $54.35 on Friday. The firm’s fifty day simple moving average is $58.30 and its two-hundred day simple moving average is $64.10. Lineage, Inc. has a 12 month low of $52.75 and a 12 month high of $89.85. 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 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 dividend of $0.5275 per share. The ex-dividend date is Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 3.88%.

Insider Transactions at Lineage

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the stock in a transaction dated Friday, February 28th. The shares were bought at an average cost 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 of the company’s stock, valued at $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

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.