Blackstone Inc. Sells 27,500 Shares of Lineage, Inc. (NASDAQ:LINE)

Blackstone Inc. cut its position in Lineage, Inc. (NASDAQ:LINE) by 12.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 200,000 shares of the company’s stock after selling 27,500 shares during the period. Blackstone Inc. owned approximately 0.09% of Lineage worth $11,714,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after buying an additional 448 shares during the last quarter. FIL Ltd bought a new stake in shares of Lineage during the 4th quarter valued at about $29,000. Quarry LP purchased a new stake in shares of Lineage during the 4th quarter valued at about $50,000. Stifel Financial Corp boosted its holdings in shares of Lineage by 30.5% in the fourth quarter. Stifel Financial Corp now owns 3,509 shares of the company’s stock worth $206,000 after buying an additional 821 shares during the last quarter. Finally, Franklin Resources Inc. bought a new stake in Lineage during the fourth quarter valued at approximately $208,000.

Insider Buying and Selling

In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the purchase, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.40% of the company’s stock.

Lineage Stock Down 2.2 %

Shares of NASDAQ:LINE opened at $44.28 on Tuesday. Lineage, Inc. has a 12 month low of $42.38 and a 12 month high of $89.85. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $56.29 and a 200 day moving average price of $60.01. The company has a market cap of $10.10 billion and a price-to-earnings ratio of -13.75.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. The business’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities research analysts predict that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were given a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 4.77%. Lineage’s dividend payout ratio is presently -65.53%.

Analysts Set New Price Targets

LINE has been the topic of several analyst reports. BNP Paribas initiated coverage on shares of Lineage in a research note on Tuesday, January 14th. They set a “neutral” rating and a $61.00 price target on the stock. UBS Group cut their price target on Lineage from $62.00 to $49.00 and set a “neutral” rating for the company in a report on Friday. Royal Bank of Canada decreased their price objective on Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Robert W. Baird lowered their price target on shares of Lineage from $70.00 to $64.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Finally, Mizuho reduced their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.47.

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.