Lineage's (LINE) Sector Perform Rating Reaffirmed at Scotiabank

Scotiabank reiterated their sector perform rating on shares of Lineage (NASDAQ:LINE - Free Report) in a report published on Thursday, MarketBeat.com reports. They currently have a $56.00 target price on the stock, down from their prior target price of $74.00.

A number of other research analysts also recently commented on LINE. Morgan Stanley lowered their price objective on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 1st. Robert W. Baird lowered their price target 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. BNP Paribas began coverage on Lineage in a report on Tuesday, January 14th. They set a "neutral" rating and a $61.00 price objective for the company. Citigroup assumed coverage on Lineage in a research report on Friday, March 28th. They set a "neutral" rating and a $64.00 price objective for the company. Finally, The Goldman Sachs Group dropped their target price on Lineage from $89.00 to $77.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $77.63.

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Lineage Stock Performance

NASDAQ LINE traded up $1.48 during trading on Thursday, reaching $53.70. 660,037 shares of the company's stock were exchanged, compared to its average volume of 1,286,210. Lineage has a fifty-two week low of $46.63 and a fifty-two week high of $89.85. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The company's fifty day simple moving average is $57.27 and its 200-day simple moving average is $62.69.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be issued a $0.5275 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 3.93%.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the business's stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the acquisition, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Lineage

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in Lineage in the 4th quarter valued at $681,572,000. D1 Capital Partners L.P. lifted its stake in shares of Lineage by 257.5% in the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock valued at $219,848,000 after buying an additional 2,703,598 shares during the period. Principal Financial Group Inc. acquired a new stake in Lineage during the third quarter worth about $173,115,000. Janus Henderson Group PLC increased its stake in Lineage by 92.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company's stock valued at $189,380,000 after acquiring an additional 1,550,478 shares during the period. Finally, Darlington Partners Capital Management LP acquired a new position in Lineage in the 4th quarter valued at approximately $90,491,000.

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.