Invesco Ltd. Cuts Position in Lineage, Inc. (NASDAQ:LINE)

Invesco Ltd. decreased its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 81.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,837 shares of the company's stock after selling 454,481 shares during the period. Invesco Ltd.'s holdings in Lineage were worth $6,082,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its stake in Lineage by 1.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company's stock worth $595,000 after buying an additional 185 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Lineage by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company's stock worth $1,740,000 after buying an additional 291 shares during the period. M&T Bank Corp grew its stake in shares of Lineage by 9.7% in the fourth 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 in the last quarter. GAMMA Investing LLC raised its holdings in shares of Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company's stock valued at $27,000 after buying an additional 448 shares during the period. Finally, EPIQ Capital Group LLC lifted its stake in Lineage by 10.9% during the 4th quarter. EPIQ Capital Group LLC now owns 5,100 shares of the company's stock worth $301,000 after acquiring an additional 500 shares in the last quarter.

Insider Activity

In related news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the firm's stock in a transaction on Friday, February 28th. The stock was bought at an average cost 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. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company's stock.

Lineage Stock Performance

Shares of Lineage stock traded up $0.81 on Tuesday, hitting $56.49. The stock had a trading volume of 988,375 shares, compared to its average volume of 1,243,636. The company's 50 day moving average price is $56.97 and its 200 day moving average price is $61.00. 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, Inc. has a 52-week low of $46.63 and a 52-week high of $89.85.

Lineage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders 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 dividend yield of 3.74%.

Analyst Upgrades and Downgrades

LINE has been the topic of a number of recent research reports. Barclays initiated coverage on shares of Lineage in a research note on Wednesday, April 9th. They set an "overweight" rating and a $59.00 price target on the stock. Robert W. Baird reduced their target price on shares of Lineage from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Morgan Stanley dropped their price target on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating for the company in a research note on Tuesday, April 1st. Mizuho cut their price objective on Lineage from $86.00 to $67.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Finally, Scotiabank reissued a "sector perform" rating and set a $56.00 target price (down from $74.00) on shares of Lineage in a research note on Thursday, April 10th. Nine 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. According to MarketBeat, Lineage presently has an average rating of "Moderate Buy" and an average target price of $77.63.

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.