Lineage, Inc. (NASDAQ:LINE - Get Free Report) shares hit a new 52-week low during trading on Monday . The company traded as low as $48.00 and last traded at $54.25, with a volume of 603 shares trading hands. The stock had previously closed at $54.35.
Analyst Ratings Changes
LINE has been the subject of a number of recent research reports. Mizuho dropped their target price on Lineage from $86.00 to $67.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Morgan Stanley dropped their price objective on Lineage from $80.00 to $75.00 and set an "overweight" rating for the company in a report on Tuesday, April 1st. 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 research note on Thursday, February 27th. Citigroup assumed coverage on shares of Lineage in a research note on Friday, March 28th. They set a "neutral" rating and a $64.00 price target for the company. Finally, BNP Paribas started coverage on shares of Lineage in a research note on Tuesday, January 14th. They issued a "neutral" rating and a $61.00 price objective on the stock. Nine equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $77.63.
Get Our Latest Stock Analysis on Lineage
Lineage Stock Up 2.8 %
The stock has a 50 day simple moving average of $57.27 and a two-hundred day simple moving average of $62.69. 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 Announces Dividend
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 dividend of $0.5275 per share. The ex-dividend date is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 3.93%.
Insider Buying and Selling at Lineage
In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of Lineage 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 purchase, 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 position. The purchase 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.
Institutional Investors Weigh In On Lineage
Hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Lineage in the fourth quarter valued at about $681,572,000. D1 Capital Partners L.P. boosted its holdings in shares of Lineage by 257.5% during the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock worth $219,848,000 after acquiring an additional 2,703,598 shares during the period. Principal Financial Group Inc. bought a new position in Lineage during the 3rd quarter worth $173,115,000. Janus Henderson Group PLC boosted its position in shares of Lineage by 92.1% in 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 bought a new position in Lineage during the fourth quarter worth about $90,491,000.
About Lineage
(
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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.
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