AIA Group Ltd Makes New $2.30 Million Investment in Lineage, Inc. (NASDAQ:LINE)

AIA Group Ltd acquired a new position in Lineage, Inc. (NASDAQ:LINE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 39,277 shares of the company's stock, valued at approximately $2,300,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Clearbridge Investments LLC increased its stake in shares of Lineage by 41.9% in the 4th quarter. Clearbridge Investments LLC now owns 458,177 shares of the company's stock valued at $26,835,000 after purchasing an additional 135,179 shares in the last quarter. SCP Investment LP acquired a new stake in Lineage in the fourth quarter valued at approximately $10,543,000. Allstate Corp purchased a new stake in shares of Lineage in the fourth quarter valued at approximately $594,000. Brown Brothers Harriman & Co. acquired a new position in shares of Lineage during the 4th quarter worth approximately $879,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Lineage by 8.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 80,405 shares of the company's stock valued at $4,709,000 after buying an additional 6,575 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LINE shares. Robert W. Baird cut their price target on shares of Lineage from $76.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Royal Bank of Canada cut their target price 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. Morgan Stanley decreased their price target on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating on the stock in a research note on Tuesday. The Goldman Sachs Group cut their price objective on Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Finally, Citigroup began coverage on Lineage in a research report on Friday, March 28th. They issued a "neutral" rating and a $64.00 target price on the stock. Eight 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's stock. According to MarketBeat, Lineage has a consensus rating of "Moderate Buy" and a consensus price target of $79.67.

Insiders Place Their Bets

In related news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm's stock in a transaction on Friday, February 28th. The shares were bought at an average price 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 represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by insiders.

Lineage Price Performance

LINE stock traded down $2.06 during trading on Friday, reaching $54.35. 2,029,717 shares of the stock were exchanged, compared to its average volume of 1,282,843. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The business has a 50 day moving average price of $58.30 and a 200-day moving average price of $63.97. Lineage, Inc. has a 1 year low of $52.75 and a 1 year high of $89.85.

Lineage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a $0.5275 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 3.88%.

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.