Capital World Investors Acquires 563,078 Shares of Lineage, Inc. (NASDAQ:LINE)

Capital World Investors raised its holdings in Lineage, Inc. (NASDAQ:LINE - Free Report) by 22.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,064,842 shares of the company's stock after purchasing an additional 563,078 shares during the quarter. Capital World Investors owned 1.34% of Lineage worth $179,508,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 448 shares during the last quarter. FIL Ltd purchased a new position in Lineage in the fourth quarter valued at about $29,000. Stifel Financial Corp purchased a new stake in shares of Lineage during the third quarter valued at approximately $211,000. Franklin Resources Inc. acquired a new stake in shares of Lineage during the fourth quarter valued at about $208,000. Finally, Sterling Capital Management LLC boosted its stake in shares of Lineage by 61.8% during the 4th quarter. Sterling Capital Management LLC now owns 3,703 shares of the company's stock valued at $217,000 after buying an additional 1,415 shares during the last quarter.

Insider Buying and Selling at Lineage

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the 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 purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LINE. Piper Sandler cut their price target on Lineage from $90.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Morgan Stanley reduced their target price on Lineage from $80.00 to $75.00 and set an "overweight" rating for the company in a report on Tuesday, April 1st. BNP Paribas assumed coverage on Lineage in a research report on Tuesday, January 14th. They issued a "neutral" rating and a $61.00 target price for the company. Royal Bank of Canada dropped their price target on shares of Lineage from $81.00 to $74.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Finally, Citigroup started coverage on Lineage in a research note on Friday, March 28th. They issued a "neutral" rating and a $64.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the 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.

Lineage Trading Down 0.9 %

LINE stock traded down $0.53 during midday trading on Friday, hitting $55.85. The company's stock had a trading volume of 518,272 shares, compared to its average volume of 965,600. Lineage, Inc. has a twelve month low of $46.63 and a twelve month high of $89.85. The company's fifty day moving average price is $56.95 and its 200 day moving average price is $61.45. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were paid a $0.5275 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 annualized dividend and a 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.