Capital Research Global Investors Boosts Stake in Lineage, Inc. (NASDAQ:LINE)

Capital Research Global Investors increased its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 100.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,000,433 shares of the company's stock after buying an additional 1,000,433 shares during the period. Capital Research Global Investors owned about 0.88% of Lineage worth $117,165,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Capital World Investors lifted its holdings in Lineage by 22.5% in the fourth quarter. Capital World Investors now owns 3,064,842 shares of the company's stock worth $179,508,000 after acquiring an additional 563,078 shares during the last quarter. HGI Capital Management LLC bought a new position in shares of Lineage in the fourth quarter valued at $971,000. XTX Topco Ltd purchased a new stake in shares of Lineage during the fourth quarter valued at $347,000. Mariner LLC acquired a new stake in shares of Lineage during the fourth quarter valued at approximately $548,000. Finally, Optimize Financial Inc acquired a new stake in shares of Lineage in the fourth quarter worth $330,000.

Insider Transactions at Lineage

In related news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were bought 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on LINE. Morgan Stanley dropped 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, April 1st. Scotiabank reiterated a "sector perform" rating and issued a $56.00 target price (down previously from $74.00) on shares of Lineage in a research note on Thursday, April 10th. Royal Bank of Canada lowered their price objective on Lineage from $81.00 to $74.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. The Goldman Sachs Group cut their price target 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, Mizuho lowered their target price on shares of Lineage from $86.00 to $67.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $77.63.

Lineage Stock Performance

Shares of NASDAQ:LINE traded down $0.53 during trading on Friday, reaching $55.85. The company had a trading volume of 518,272 shares, compared to its average volume of 1,248,925. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. Lineage, Inc. has a 12 month low of $46.63 and a 12 month high of $89.85. The company has a fifty day moving average of $56.95 and a two-hundred day moving average of $61.45.

Lineage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were given a $0.5275 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.78%.

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.