Lineage (NASDAQ:LINE) Hits New 12-Month Low on Analyst Downgrade

Shares of Lineage, Inc. (NASDAQ:LINE - Get Free Report) hit a new 52-week low on Monday after Evercore ISI lowered their price target on the stock from $90.00 to $88.00. Evercore ISI currently has an in-line rating on the stock. Lineage traded as low as $75.46 and last traded at $75.50, with a volume of 309072 shares trading hands. The stock had previously closed at $76.87.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada reissued an "outperform" rating and set a $94.00 target price on shares of Lineage in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on Lineage in a research note on Monday, August 19th. They issued a "hold" rating and a $90.00 price target on the stock. Capital One Financial assumed coverage on Lineage in a research note on Monday, September 16th. They issued an "overweight" rating and a $91.00 price target on the stock. Mizuho assumed coverage on Lineage in a research note on Monday, August 19th. They issued a "neutral" rating and a $86.00 target price on the stock. Finally, KeyCorp assumed coverage on Lineage in a research note on Monday, August 19th. They issued an "overweight" rating and a $92.00 target price on the stock. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $93.50.

Insider Buying and Selling at Lineage

In other news, CFO Robert Crisci bought 10,000 shares of the stock in a transaction on Friday, July 26th. The shares were bought at an average price of $78.00 per share, with a total value of $780,000.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares in the company, valued at $780,000. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Robert Crisci acquired 10,000 shares of the firm's stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $78.00 per share, with a total value of $780,000.00. Following the completion of the purchase, the chief financial officer now directly owns 10,000 shares of the company's stock, valued at $780,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Alvarez Rivera acquired 600 shares of the firm's stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $78.00 per share, for a total transaction of $46,800.00. Following the purchase, the insider now directly owns 5,406 shares of the company's stock, valued at approximately $421,668. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 12,150 shares of company stock valued at $947,700. 1.40% of the stock is owned by company insiders.

Institutional Trading of Lineage

An institutional investor recently bought a new position in Lineage stock. SG Americas Securities LLC purchased a new stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 8,395 shares of the company's stock, valued at approximately $658,000. Hedge funds and other institutional investors own 3.35% of the company's stock.

Lineage Trading Down 2.3 %

The stock has a market cap of $18.29 billion and a price-to-earnings ratio of -5.61. The business's fifty day moving average is $83.17.

Lineage Announces Dividend

The business also recently disclosed a -- dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Monday, September 30th. Lineage's payout ratio is -11.12%.

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.