HGI Capital Management LLC Invests $971,000 in Lineage, Inc. (NASDAQ:LINE)

HGI Capital Management LLC bought a new stake in Lineage, Inc. (NASDAQ:LINE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,571 shares of the company's stock, valued at approximately $971,000. Lineage comprises approximately 1.0% of HGI Capital Management LLC's portfolio, making the stock its 17th largest holding.

Several other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC lifted its position in Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $27,000 after buying an additional 448 shares in the last quarter. FIL Ltd acquired a new position in shares of Lineage during the fourth quarter worth approximately $29,000. Franklin Resources Inc. acquired a new stake in shares of Lineage in the 4th quarter valued at $208,000. Stifel Financial Corp bought a new position in Lineage in the third quarter valued at approximately $211,000. Finally, Sterling Capital Management LLC raised its position 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 acquiring an additional 1,415 shares during the last quarter.

Wall Street Analyst Weigh In

LINE has been the topic of several analyst reports. The Goldman Sachs Group cut their target price on Lineage from $89.00 to $77.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Citigroup began coverage on shares of Lineage in a research note on Friday, March 28th. They set a "neutral" rating and a $64.00 price objective on the stock. Barclays started coverage on shares of Lineage in a report on Wednesday, April 9th. They issued an "overweight" rating and a $59.00 target price on the stock. Morgan Stanley lowered their price objective on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating for the company in a research report on Tuesday, April 1st. Finally, BNP Paribas began coverage on shares of Lineage in a report on Tuesday, January 14th. They issued a "neutral" rating and a $61.00 price target for the company. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.63.

Insider Buying and Selling at Lineage

In other news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the acquisition, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company's stock.

Lineage Stock Performance

NASDAQ:LINE traded up $0.97 on Wednesday, hitting $57.02. The company's stock had a trading volume of 174,968 shares, compared to its average volume of 1,253,369. 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 one year low of $46.63 and a one year high of $89.85. The stock has a fifty day moving average of $56.94 and a two-hundred day moving average of $61.61.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were given a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 3.70%.

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.