Lineage, Inc. (NASDAQ:LINE) Shares Purchased by Centersquare Investment Management LLC

Centersquare Investment Management LLC raised its holdings in Lineage, Inc. (NASDAQ:LINE - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,288,601 shares of the company's stock after buying an additional 98,391 shares during the quarter. Centersquare Investment Management LLC owned about 0.56% of Lineage worth $75,473,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Lineage in the fourth quarter valued at approximately $681,572,000. Vanguard Group Inc. increased its stake in Lineage by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company's stock worth $562,003,000 after acquiring an additional 408,526 shares during the last quarter. Wellington Management Group LLP acquired a new position in Lineage in the third quarter valued at about $265,895,000. Baillie Gifford & Co. increased its holdings in Lineage by 80.8% in the 4th quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock valued at $181,484,000 after purchasing an additional 1,384,481 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Lineage by 36.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company's stock valued at $180,811,000 after buying an additional 831,533 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. The Goldman Sachs Group cut their price objective on Lineage from $89.00 to $77.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. Scotiabank boosted their price objective on Lineage from $73.00 to $74.00 and gave the company a "sector outperform" rating in a research note on Monday, March 10th. Royal Bank of Canada lowered their price target on Lineage from $81.00 to $74.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Robert W. Baird dropped their target price on Lineage from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. cut shares of Lineage from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $78.58.

Remove Ads

Lineage Stock Up 0.4 %

LINE traded up $0.18 during midday trading on Wednesday, reaching $49.18. 451,803 shares of the company's stock were exchanged, compared to its average volume of 1,285,067. The business's 50-day moving average price is $57.70 and its 200 day moving average price is $63.30. Lineage, Inc. has a 1-year low of $46.98 and a 1-year high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be paid a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Monday, March 31st.

Insider Buying and Selling at Lineage

In other news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the firm's stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the purchase, the chairman now directly owns 24,317 shares of the company's stock, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by insiders.

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.