Lineage, Inc. (NASDAQ:LINE) Given Average Recommendation of “Moderate Buy” by Brokerages

Lineage, Inc. (NASDAQ:LINE) has earned an average rating of “Moderate Buy” from the nineteen brokerages that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $79.67.

A number of research firms have weighed in on LINE. Scotiabank upped 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. Mizuho reduced their target price on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered shares of Lineage from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $78.00 to $75.00 in a research note on Friday, December 20th. The Goldman Sachs Group reduced their price objective on shares of Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, Royal Bank of Canada decreased their price objective on Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, March 6th.

Lineage Price Performance

Shares of Lineage stock opened at $51.25 on Tuesday. 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 one year low of $50.23 and a one year high of $89.85. The stock’s 50-day moving average is $58.13 and its 200-day moving average is $63.62.

Lineage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend is Monday, March 31st.

Insider Buying and Selling

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following 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 position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lineage

A number of institutional investors have recently modified their holdings of LINE. Charles Schwab Investment Management Inc. bought a new position in Lineage during the third quarter worth about $13,786,000. The Manufacturers Life Insurance Company bought a new position in shares of Lineage during the third quarter worth approximately $2,612,000. Quantbot Technologies LP acquired a new stake in shares of Lineage in the third quarter valued at approximately $323,000. BNP Paribas Financial Markets acquired a new stake in shares of Lineage in the third quarter valued at approximately $2,993,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Lineage in the third quarter valued at approximately $226,000.

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.