DigitalBridge Group Inc. Takes Position in Lineage, Inc. (NASDAQ:LINE)

DigitalBridge Group Inc. bought a new stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 88,700 shares of the company's stock, valued at approximately $5,195,000.

Other institutional investors also recently added to or reduced their stakes in the company. Renaissance Capital LLC boosted its stake in Lineage by 25.6% in the fourth quarter. Renaissance Capital LLC now owns 83,446 shares of the company's stock worth $4,887,000 after purchasing an additional 16,990 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of Lineage by 10.5% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 602,803 shares of the company's stock valued at $35,306,000 after buying an additional 57,302 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Lineage by 130.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,070,915 shares of the company's stock worth $62,723,000 after buying an additional 605,670 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Lineage by 16.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 175,000 shares of the company's stock worth $10,250,000 after buying an additional 25,000 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in Lineage in the 4th quarter valued at about $305,000.

Lineage Price Performance

LINE traded up $0.08 on Thursday, reaching $44.08. The company had a trading volume of 212,590 shares, compared to its average volume of 1,238,375. Lineage, Inc. has a 52-week low of $42.05 and a 52-week high of $89.85. The company has a market cap of $10.08 billion and a price-to-earnings ratio of -13.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. The business has a 50 day simple moving average of $51.57 and a 200 day simple moving average of $56.89.

Lineage (NASDAQ:LINE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. The company's revenue was down 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were paid a $0.5275 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 4.79%. Lineage's dividend payout ratio is presently -65.53%.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti purchased 11,500 shares of the firm's stock in a transaction on 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 completion of the purchase, the chairman now owns 27,733 shares of the company's stock, valued at $1,213,318.75. The trade was a 70.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sudarsan V. Thattai acquired 4,420 shares of the stock in a transaction dated Monday, May 5th. The stock was acquired at an average price of $45.23 per share, with a total value of $199,916.60. Following the completion of the acquisition, the insider now owns 4,420 shares in the company, valued at approximately $199,916.60. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought 51,186 shares of company stock worth $2,666,159 over the last 90 days. Corporate insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LINE shares. Citigroup initiated coverage on Lineage in a research note on Friday, March 28th. They issued a "neutral" rating and a $64.00 target price for the company. Barclays started coverage on Lineage in a research report on Wednesday, April 9th. They issued an "overweight" rating and a $59.00 price objective for the company. Piper Sandler cut their target price on shares of Lineage from $75.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Bank of America cut shares of Lineage from a "buy" rating to a "neutral" rating and set a $49.00 price target for the company. in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their price target on shares of Lineage from $64.00 to $48.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Ten investment 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's stock. Based on data from MarketBeat.com, Lineage has an average rating of "Moderate Buy" and a consensus target price of $67.58.

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.