Clearbridge Investments LLC Acquires 135,179 Shares of Lineage, Inc. (NASDAQ:LINE)

Clearbridge Investments LLC boosted its holdings in Lineage, Inc. (NASDAQ:LINE - Free Report) by 41.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 458,177 shares of the company's stock after purchasing an additional 135,179 shares during the quarter. Clearbridge Investments LLC owned 0.20% of Lineage worth $26,835,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company's stock valued at $27,000 after acquiring an additional 448 shares during the period. Stifel Financial Corp bought a new stake in Lineage during the third quarter worth about $211,000. MetLife Investment Management LLC bought a new stake in Lineage during the third quarter worth about $226,000. EntryPoint Capital LLC acquired a new stake in Lineage during the fourth quarter worth about $289,000. Finally, M&T Bank Corp increased its holdings in Lineage by 9.7% in the 4th quarter. M&T Bank Corp now owns 4,987 shares of the company's stock valued at $292,000 after buying an additional 439 shares during the period.

Lineage Trading Down 3.7 %

NASDAQ LINE traded down $2.06 on Friday, hitting $54.35. The company's stock had a trading volume of 2,029,717 shares, compared to its average volume of 1,282,843. The company's 50-day moving average is $58.30 and its 200 day moving average is $63.84. 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 1-year low of $52.75 and a 1-year high of $89.85.

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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 given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 3.88%. The ex-dividend date is Monday, March 31st.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank of Canada cut their price target on shares of Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. BNP Paribas started coverage on Lineage in a research note on Tuesday, January 14th. They set a "neutral" rating and a $61.00 target price for the company. Robert W. Baird decreased their price target on Lineage from $76.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Morgan Stanley lowered their price target on Lineage from $80.00 to $75.00 and set an "overweight" rating for the company in a report on Tuesday, April 1st. Finally, The Goldman Sachs Group reduced their price objective on Lineage from $89.00 to $77.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lineage currently has an average rating of "Moderate Buy" and an average target price of $79.67.

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.