DigitalBridge Group Inc. Purchases Shares of 88,700 Lineage, Inc. (NASDAQ:LINE)

DigitalBridge Group Inc. purchased a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 88,700 shares of the company's stock, valued at approximately $5,195,000.

Several other hedge funds have also recently made changes to their positions in LINE. Norges Bank acquired a new stake in Lineage during the fourth quarter worth approximately $681,572,000. Vanguard Group Inc. grew its position in shares of Lineage by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company's stock worth $562,003,000 after buying an additional 408,526 shares during the period. D1 Capital Partners L.P. increased its stake in shares of Lineage by 257.5% in the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock valued at $219,848,000 after acquiring an additional 2,703,598 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Lineage by 80.8% during the 4th quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock valued at $181,484,000 after acquiring an additional 1,384,481 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Lineage by 36.9% during the 4th quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company's stock valued at $180,811,000 after acquiring an additional 831,533 shares during the period.

Analysts Set New Price Targets

Several analysts have recently commented on the company. The Goldman Sachs Group reduced their target price on Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Citigroup initiated coverage on Lineage in a report on Friday, March 28th. They set a "neutral" rating and a $64.00 price objective for the company. Scotiabank reiterated a "sector perform" rating and issued a $56.00 target price (down from $74.00) on shares of Lineage in a report on Thursday, April 10th. BNP Paribas began coverage on shares of Lineage in a research note on Tuesday, January 14th. They set a "neutral" rating and a $61.00 price target for the company. Finally, Morgan Stanley lowered their price objective on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating on the stock in a report on Tuesday, April 1st. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $70.79.

Lineage Price Performance

Shares of NASDAQ LINE opened at $43.78 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $9.99 billion and a PE ratio of -13.60. The stock's 50 day moving average price is $55.97 and its 200-day moving average price is $59.89. Lineage, Inc. has a twelve month low of $42.05 and a twelve month high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.34 billion. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were issued a $0.5275 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.82%. Lineage's dividend payout ratio (DPR) is presently -65.53%.

Insider Activity at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of Lineage stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the purchase, the chairman now directly owns 24,317 shares of the company's stock, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.40% of the stock is owned by company insiders.

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.

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