Lineage (NASDAQ:LINE) Coverage Initiated by Analysts at Citigroup

Citigroup initiated coverage on shares of Lineage (NASDAQ:LINE) in a research note issued to investors on Friday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $64.00 target price on the stock.

Several other research analysts have also commented on the company. Scotiabank lifted their price target on Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 10th. BNP Paribas began coverage on shares of Lineage in a research report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price target for the company. Piper Sandler lowered their price objective on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. 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 report on Friday, January 17th. Finally, Royal Bank of Canada lowered their price target on Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Eight investment 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. According to MarketBeat.com, Lineage presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.06.

Lineage Stock Performance

NASDAQ LINE opened at $58.98 on Friday. The company has a fifty day moving average of $58.57 and a two-hundred day moving average of $64.98. 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 has a 1 year low of $52.75 and a 1 year high of $89.85.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a dividend of $0.5275 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.58%.

Insider Buying and Selling

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the transaction, the chairman now directly owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Lineage

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Lineage in the fourth quarter valued at approximately $681,572,000. Vanguard Group Inc. grew its holdings in Lineage by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company’s stock valued at $562,003,000 after buying an additional 408,526 shares during the last quarter. D1 Capital Partners L.P. raised its holdings 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 worth $219,848,000 after acquiring an additional 2,703,598 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Lineage in the third quarter valued at $265,895,000. Finally, Janus Henderson Group PLC boosted its stake in shares of 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 last quarter.

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.