Lineage (NASDAQ:LINE) Now Covered by Analysts at Barclays

Barclays assumed coverage on shares of Lineage (NASDAQ:LINE) in a report published on Wednesday,Benzinga reports. The brokerage issued an overweight rating and a $59.00 price target on the stock.

Several other analysts have also issued reports on the stock. Robert W. Baird dropped their target price on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. BNP Paribas initiated coverage on Lineage in a report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price objective on the stock. Piper Sandler decreased their target price on Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Citigroup began coverage on Lineage in a research report on Friday, March 28th. They set a “neutral” rating and a $64.00 price target for the company. Finally, Morgan Stanley decreased their price objective on Lineage from $80.00 to $75.00 and set an “overweight” rating on the stock in a report on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.63.

Lineage Stock Performance

Shares of LINE stock traded down $3.29 during trading hours on Wednesday, hitting $51.44. 420,404 shares of the company’s stock were exchanged, compared to its average volume of 1,285,979. The firm has a 50 day moving average of $57.49 and a two-hundred day moving average of $63.06. Lineage has a fifty-two week low of $46.63 and a fifty-two week 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.

Lineage Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.10%.

Insider Transactions at Lineage

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of Lineage stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the transaction, the chairman now directly owns 24,317 shares in the company, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Lineage

Several institutional investors have recently made changes to their positions in LINE. JPMorgan Chase & Co. purchased a new position in shares of Lineage in the third quarter valued at $12,542,000. Principal Financial Group Inc. acquired a new position in Lineage in the 3rd quarter valued at $173,115,000. Renaissance Capital LLC lifted its position in Lineage by 25.6% during the fourth quarter. Renaissance Capital LLC now owns 83,446 shares of the company’s stock worth $4,887,000 after buying an additional 16,990 shares during the period. Cbre Investment Management Listed Real Assets LLC increased its position in Lineage by 10.5% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 602,803 shares of the company’s stock worth $35,306,000 after purchasing an additional 57,302 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Lineage by 7,466.7% in the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 448 shares during 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.