Lineage, Inc. (NASDAQ:LINE) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 35.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 84,805 shares of the company's stock after purchasing an additional 22,265 shares during the period. Ameriprise Financial Inc.'s holdings in Lineage were worth $4,967,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Renaissance Capital LLC grew its holdings 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 acquiring an additional 16,990 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its position in Lineage by 10.5% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 602,803 shares of the company's stock worth $35,306,000 after purchasing an additional 57,302 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of 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 purchasing an additional 605,670 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in shares of 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 valued at $10,250,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Lineage in the 4th quarter valued at $305,000.

Lineage Price Performance

NASDAQ LINE traded down $0.01 during mid-day trading on Tuesday, hitting $45.20. The stock had a trading volume of 1,099,468 shares, compared to its average volume of 1,246,244. The firm's 50 day moving average is $52.16 and its 200 day moving average is $57.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The stock has a market capitalization of $10.33 billion and a price-to-earnings ratio of -14.04. 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 released its earnings results 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 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 revenue was down 2.7% compared to the same quarter last year. Equities research analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were paid a dividend of $0.5275 per share. The ex-dividend date was Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 4.67%. Lineage's dividend payout ratio is presently -65.53%.

Insider Activity at Lineage

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of Lineage stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the acquisition, the chairman now directly owns 24,317 shares in the company, valued at approximately $1,471,178.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sudarsan V. Thattai purchased 4,420 shares of the stock in a transaction dated Monday, May 5th. The shares were purchased at an average cost of $45.23 per share, for a total transaction of $199,916.60. Following the transaction, 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. In the last quarter, insiders acquired 51,186 shares of company stock valued at $2,666,159. Corporate insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LINE shares. Citigroup initiated coverage on shares of Lineage in a research report on Friday, March 28th. They set a "neutral" rating and a $64.00 price target on the stock. Wells Fargo & Company lowered their target price on shares of Lineage from $64.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Piper Sandler dropped 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. The Goldman Sachs Group reduced their price target on Lineage from $74.00 to $63.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Finally, Royal Bank of Canada lowered their price target on Lineage from $81.00 to $74.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.