Piper Sandler Cuts Lineage (NASDAQ:LINE) Price Target to $75.00

Lineage (NASDAQ:LINE) had its price objective decreased by Piper Sandler from $90.00 to $75.00 in a report issued on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

LINE has been the subject of a number of other reports. Royal Bank of Canada lowered their target price on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Robert W. Baird lowered their target price on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. BNP Paribas initiated coverage on shares of Lineage in a research note on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 target price for the company. Mizuho lowered their target price 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. Finally, Scotiabank lowered their target price on shares of Lineage from $76.00 to $73.00 and set a “sector outperform” rating for the company in a research note on Monday, February 3rd. Seven 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. Based on data from MarketBeat, Lineage currently has an average rating of “Moderate Buy” and an average target price of $82.41.

Lineage Stock Up 1.0 %

NASDAQ:LINE opened at $60.25 on Thursday. Lineage has a fifty-two week low of $52.75 and a fifty-two week high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. The company’s 50-day simple moving average is $57.74 and its 200-day simple moving average is $68.29.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Tuesday, December 31st.

Hedge Funds Weigh In On Lineage

Several institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Lineage during the 4th quarter valued at approximately $681,572,000. Vanguard Group Inc. increased its holdings in shares of Lineage by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company’s stock valued at $562,003,000 after purchasing an additional 408,526 shares in the last quarter. D1 Capital Partners L.P. increased its holdings in shares of Lineage by 257.5% during the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company’s stock valued at $219,848,000 after purchasing an additional 2,703,598 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Lineage in the 3rd quarter worth $265,895,000. Finally, Janus Henderson Group PLC increased its holdings in Lineage by 92.1% in 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.