Blackstone Inc. Sells 27,500 Shares of Lineage, Inc. (NASDAQ:LINE)

Blackstone Inc. decreased its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 12.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,000 shares of the company's stock after selling 27,500 shares during the period. Blackstone Inc. owned approximately 0.09% of Lineage worth $11,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in shares of Lineage during the 3rd quarter worth approximately $12,542,000. Principal Financial Group Inc. purchased a new stake in shares of Lineage in the third quarter valued at approximately $173,115,000. Renaissance Capital LLC lifted its position in Lineage by 25.6% during the fourth quarter. Renaissance Capital LLC now owns 83,446 shares of the company's stock worth $4,887,000 after buying an additional 16,990 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake in Lineage by 10.5% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 602,803 shares of the company's stock worth $35,306,000 after buying an additional 57,302 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $27,000 after acquiring an additional 448 shares during the last quarter.

Wall Street Analyst Weigh In

LINE has been the subject of several analyst reports. Royal Bank of Canada lowered their price objective on Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. BNP Paribas began coverage on shares of Lineage in a report on Tuesday, January 14th. They issued a "neutral" rating and a $61.00 price objective on the stock. UBS Group reduced their price target on shares of Lineage from $62.00 to $49.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Piper Sandler cut their target price on Lineage from $75.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, The Goldman Sachs Group lowered their price target on Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.79.

Lineage Stock Performance

Shares of LINE traded up $0.91 during mid-day trading on Friday, hitting $45.62. The company's stock had a trading volume of 944,468 shares, compared to its average volume of 1,268,537. The firm has a market capitalization of $10.43 billion and a PE ratio of -14.17. Lineage, Inc. has a one year low of $42.05 and a one year high of $89.85. The stock's 50-day moving average is $55.05 and its two-hundred day moving average is $59.20. 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 (NASDAQ:LINE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The firm had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.34 billion. The company's revenue for the quarter was down 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend was Monday, March 31st. Lineage's dividend payout ratio is -65.53%.

Insider Activity

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the business's stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the purchase, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Kevin Patrick Marchetti bought 11,500 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average price of $43.75 per share, for a total transaction of $503,125.00. Following the acquisition, the chairman now directly owns 27,733 shares of the company's stock, valued at approximately $1,213,318.75. The trade was a 70.84 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 40,237 shares of company stock valued at $2,174,220 in the last three months. Company insiders own 1.40% of the company's stock.

Lineage 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.