Brokerages Set Lineage, Inc. (NASDAQ:LINE) Price Target at $82.00

Shares of Lineage, Inc. (NASDAQ:LINE - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eighteen ratings firms that are presently covering the firm, Marketbeat reports. Seven equities research 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 12 month price objective among brokers that have updated their coverage on the stock in the last year is $82.06.

A number of equities analysts recently weighed in on LINE shares. The Goldman Sachs Group reduced their target price on shares of Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Robert W. Baird reduced their price objective on Lineage from $76.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Mizuho dropped their target price on Lineage from $86.00 to $67.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. BNP Paribas assumed coverage on shares of Lineage in a research report on Tuesday, January 14th. They set a "neutral" rating and a $61.00 price target on the stock. Finally, Piper Sandler decreased their price objective on Lineage from $90.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, February 27th.

Insider Activity

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the completion of 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company's stock.

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Institutional Trading of Lineage

Several hedge funds have recently added to or reduced their stakes in LINE. Janney Montgomery Scott LLC increased its position in Lineage by 1.9% during the 4th 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 increased its position in 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 acquiring an additional 291 shares during the period. US Bancorp DE acquired a new stake in Lineage in the 3rd quarter worth about $25,000. Nissay Asset Management Corp Japan ADV raised its stake in Lineage by 4.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 8,910 shares of the company's stock worth $526,000 after purchasing an additional 340 shares in the last quarter. Finally, Larson Financial Group LLC bought a new stake in Lineage in the 3rd quarter valued at about $34,000.

Lineage Stock Performance

Shares of Lineage stock traded down $0.54 on Friday, hitting $60.72. The company had a trading volume of 1,166,156 shares, compared to its average volume of 993,112. The stock has a 50-day moving average of $57.95 and a 200-day moving average of $67.30. 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 has a twelve month low of $52.75 and a twelve month high of $89.85.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st were issued a $0.5275 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.11 annualized dividend and a dividend yield of 3.47%.

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.