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

DigitalBridge Group Inc. purchased a new stake in Lineage, Inc. (NASDAQ:LINE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 88,700 shares of the company's stock, valued at approximately $5,195,000.

Several other hedge funds have also recently bought and sold shares of LINE. FIL Ltd acquired a new stake in Lineage in the fourth quarter valued at approximately $29,000. Quarry LP acquired a new stake in Lineage in the fourth quarter valued at approximately $50,000. Stifel Financial Corp grew its position in Lineage by 30.5% in the fourth quarter. Stifel Financial Corp now owns 3,509 shares of the company's stock valued at $206,000 after acquiring an additional 821 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Lineage in the fourth quarter valued at approximately $208,000. Finally, Sterling Capital Management LLC grew its position in Lineage by 61.8% in the fourth quarter. Sterling Capital Management LLC now owns 3,703 shares of the company's stock valued at $217,000 after acquiring an additional 1,415 shares in the last quarter.

Wall Street Analyst Weigh In

LINE has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their price target on shares of Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Scotiabank decreased their price objective on shares of Lineage from $56.00 to $50.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Wells Fargo & Company decreased their price objective on shares of Lineage from $64.00 to $48.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Morgan Stanley decreased their price objective on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating for the company in a report on Tuesday, April 1st. Finally, Bank of America downgraded shares of Lineage from a "buy" rating to a "neutral" rating and set a $49.00 price objective for the company. in a report on Tuesday, May 6th. 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 stock. Based on data from MarketBeat.com, Lineage currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.58.

Insider Transactions at Lineage

In other news, Chairman Kevin Patrick Marchetti purchased 11,500 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average cost of $43.75 per share, with a total value of $503,125.00. Following the acquisition, the chairman now owns 27,733 shares in the company, valued at approximately $1,213,318.75. This trade represents a 70.84% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the company's stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the acquisition, the chairman now directly owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 51,186 shares of company stock worth $2,666,159. 1.40% of the stock is owned by company insiders.

Lineage Stock Down 0.0%

Shares of NASDAQ LINE traded down $0.01 during mid-day trading on Tuesday, reaching $45.20. 1,099,468 shares of the company's stock were exchanged, compared to its average volume of 1,246,244. The firm has a market capitalization of $10.33 billion and a price-to-earnings ratio of -14.04. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $52.16 and a 200 day simple moving average of $57.06. 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 posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. Lineage's revenue was down 2.7% on a year-over-year basis. As a group, equities analysts expect that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 4.67%. Lineage's dividend payout ratio is currently -65.53%.

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.