Resona Asset Management Co. Ltd. Takes $1.39 Million Position in Lineage, Inc. (NASDAQ:LINE)

Resona Asset Management Co. Ltd. bought a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 23,528 shares of the company's stock, valued at approximately $1,387,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Lineage in the fourth quarter worth $681,572,000. Principal Financial Group Inc. bought a new position in Lineage in the 3rd quarter worth $173,115,000. State Street Corp acquired a new position in Lineage during the 3rd quarter worth $113,483,000. Baillie Gifford & Co. boosted its holdings in Lineage by 80.8% during the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock valued at $181,484,000 after acquiring an additional 1,384,481 shares during the period. Finally, Geode Capital Management LLC acquired a new stake in shares of Lineage in the third quarter valued at about $91,161,000.

Analyst Ratings Changes

Several research firms recently weighed in on LINE. Royal Bank of Canada cut their price objective on Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Mizuho cut their price target on Lineage from $86.00 to $67.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. downgraded shares of Lineage from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. The Goldman Sachs Group cut their target price on shares of Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Finally, Scotiabank restated a "sector perform" rating and issued a $56.00 price target (down from $74.00) on shares of Lineage in a research report on Thursday, April 10th. Nine 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.63.

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Insider Buying and Selling at Lineage

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the company's stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the acquisition, 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 hyperlink. Company insiders own 1.40% of the company's stock.

Lineage Price Performance

Shares of LINE traded down $0.41 during mid-day trading on Tuesday, reaching $53.91. The company had a trading volume of 41,347 shares, compared to its average volume of 1,274,893. The company's 50-day moving average is $57.18 and its 200-day moving average is $62.41. 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, Inc. has a twelve month low of $46.63 and a twelve month high of $89.85.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.91%.

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.