Price T Rowe Associates Inc. MD Sells 2,215,744 Shares of Lineage, Inc. (NASDAQ:LINE)

Price T Rowe Associates Inc. MD lessened its position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 47.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,484,110 shares of the company's stock after selling 2,215,744 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.09% of Lineage worth $145,496,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LINE. Norges Bank purchased a new position in Lineage in the fourth quarter worth $681,572,000. Principal Financial Group Inc. acquired a new position in Lineage during the 3rd quarter valued at about $173,115,000. Baillie Gifford & Co. raised its stake in Lineage by 80.8% in the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock valued at $181,484,000 after buying an additional 1,384,481 shares during the last quarter. Capital Research Global Investors boosted its holdings in Lineage by 100.0% in the fourth quarter. Capital Research Global Investors now owns 2,000,433 shares of the company's stock worth $117,165,000 after acquiring an additional 1,000,433 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Lineage by 36.9% during the fourth quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company's stock worth $180,811,000 after acquiring an additional 831,533 shares during the last quarter.

Analysts Set New Price Targets

LINE has been the subject of several research analyst reports. The Goldman Sachs Group decreased their price objective on shares of Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Citigroup began coverage on shares of Lineage in a research note on Friday, March 28th. They set a "neutral" rating and a $64.00 price objective for the company. Barclays assumed coverage on Lineage in a research report on Wednesday, April 9th. They issued an "overweight" rating and a $59.00 target price on the stock. Robert W. Baird lowered their price target on Lineage from $76.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Finally, Piper Sandler cut their price objective on Lineage from $90.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Lineage has a consensus rating of "Moderate Buy" and an average price target of $77.63.

Insider Buying and Selling

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the stock in a transaction on 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 purchase, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.

Lineage Stock Down 0.9 %

NASDAQ:LINE opened at $55.85 on Friday. The company has a fifty day moving average of $56.95 and a two-hundred day moving average of $61.22. Lineage, Inc. has a fifty-two week low of $46.63 and a fifty-two week high of $89.85. 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 business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were paid a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Monday, March 31st.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.