DigitalBridge Group Inc. Makes New $5.20 Million Investment in Lineage, Inc. (NASDAQ:LINE)

DigitalBridge Group Inc. bought a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 88,700 shares of the company's stock, valued at approximately $5,195,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Lineage during the 4th quarter valued at $681,572,000. Vanguard Group Inc. increased its stake in Lineage by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company's stock valued at $562,003,000 after purchasing an additional 408,526 shares in the last quarter. D1 Capital Partners L.P. raised its position in shares of Lineage by 257.5% during the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock worth $219,848,000 after purchasing an additional 2,703,598 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of 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 period. Finally, Victory Capital Management Inc. raised its holdings 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 period.

Insider Activity at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti bought 11,500 shares of Lineage stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $43.75 per share, with a total value of $503,125.00. Following the transaction, the chairman now directly owns 27,733 shares of the company's stock, valued at $1,213,318.75. This represents a 70.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the transaction, the chairman now owns 24,317 shares in the company, valued at $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 40,237 shares of company stock worth $2,174,220 over the last 90 days. 1.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LINE shares. Citigroup initiated coverage on Lineage in a report on Friday, March 28th. They set a "neutral" rating and a $64.00 target price on the stock. BNP Paribas started coverage on shares of Lineage in a research note on Tuesday, January 14th. They set a "neutral" rating and a $61.00 price objective on the stock. Evercore ISI reduced their target price on Lineage from $68.00 to $59.00 and set an "in-line" rating on the stock in a report on Thursday, May 1st. Piper Sandler dropped their price objective on Lineage from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, Bank of America lowered Lineage from a "buy" rating to a "neutral" rating and set a $49.00 price objective on the stock. in a research note on Tuesday, May 6th. Ten 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $70.79.

Lineage Stock Performance

Lineage stock traded up $2.27 during mid-day trading on Monday, reaching $47.89. The company's stock had a trading volume of 531,175 shares, compared to its average volume of 1,265,044. The firm's fifty day moving average price is $55.05 and its two-hundred day moving average price is $59.07. The company has a market capitalization of $10.95 billion and a P/E ratio of -14.91. 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, Inc. has a 12-month low of $42.05 and a 12-month high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last released its 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. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business's quarterly revenue was down 2.7% on a year-over-year basis. Sell-side analysts predict that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Monday, March 31st. Lineage's payout ratio is -65.53%.

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.