Lineage, Inc. (NASDAQ:LINE) Receives $77.63 Average Price Target from Brokerages

Shares of Lineage, Inc. (NASDAQ:LINE - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty ratings firms that are covering the firm, MarketBeat reports. Nine investment analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $77.63.

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lowered their price target on Lineage from $89.00 to $77.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. BNP Paribas assumed coverage on Lineage in a research report on Tuesday, January 14th. They set a "neutral" rating and a $61.00 price target on the stock. Piper Sandler lowered their target price on Lineage from $90.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Scotiabank reissued a "sector perform" rating and issued a $56.00 target price (down previously from $74.00) on shares of Lineage in a research note on Thursday, April 10th. Finally, Mizuho lowered their target price on Lineage from $86.00 to $67.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th.

Lineage Stock Down 0.3 %

LINE traded down $0.17 during trading on Friday, reaching $55.68. 499,198 shares of the company were exchanged, compared to its average volume of 1,244,979. Lineage has a 12-month low of $46.63 and a 12-month high of $89.85. The company's 50-day moving average is $56.97 and its two-hundred day moving average is $61.00. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were issued 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 3.79%.

Insiders Place Their Bets

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of Lineage stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the acquisition, the chairman now owns 24,317 shares of the company's stock, valued at approximately $1,471,178.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company's stock.

Institutional Trading of Lineage

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Lineage by 10.0% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,172 shares of the company's stock worth $714,000 after buying an additional 1,106 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of Lineage in the 1st quarter worth approximately $34,000. Lunate Capital Ltd purchased a new stake in shares of Lineage in the 1st quarter worth approximately $35,178,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Lineage by 2.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 65,994 shares of the company's stock worth $3,869,000 after buying an additional 1,514 shares during the last quarter. Finally, Villere ST Denis J & Co. LLC grew its stake in shares of Lineage by 3.2% in the 1st quarter. Villere ST Denis J & Co. LLC now owns 473,303 shares of the company's stock worth $27,750,000 after buying an additional 14,790 shares during the last quarter.

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.