Nisa Investment Advisors LLC Has $2.92 Million Holdings in Lineage, Inc. (NASDAQ:LINE)

Nisa Investment Advisors LLC lessened its stake in Lineage, Inc. (NASDAQ:LINE - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,300 shares of the company's stock after selling 6,245 shares during the period. Nisa Investment Advisors LLC's holdings in Lineage were worth $2,920,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LINE. M&T Bank Corp lifted its position in shares of Lineage by 174.5% in the 1st quarter. M&T Bank Corp now owns 13,690 shares of the company's stock worth $803,000 after acquiring an additional 8,703 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Lineage by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 269,663 shares of the company's stock valued at $15,810,000 after purchasing an additional 2,879 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Lineage by 10.0% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,172 shares of the company's stock worth $714,000 after purchasing an additional 1,106 shares during the period. Salomon & Ludwin LLC acquired a new stake in Lineage during the first quarter worth $34,000. Finally, Lunate Capital Ltd bought a new stake in Lineage in the 1st quarter valued at $35,178,000.

Insiders Place Their Bets

In other news, insider Sudarsan V. Thattai acquired 4,420 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was acquired at an average cost of $45.23 per share, for a total transaction of $199,916.60. Following the completion of the acquisition, the insider owned 4,420 shares in the company, valued at $199,916.60. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Adam Matthew Schwartz Forste bought 10,949 shares of the business's stock in a transaction on Thursday, May 8th. The stock was purchased at an average price of $44.93 per share, for a total transaction of $491,938.57. Following the purchase, the chairman directly owned 35,266 shares in the company, valued at approximately $1,584,501.38. This represents a 45.03% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 26,869 shares of company stock worth $1,194,980. Corporate insiders own 71.90% of the company's stock.

Lineage Trading Down 2.8%

NASDAQ:LINE traded down $1.19 on Monday, reaching $41.77. The company's stock had a trading volume of 822,688 shares, compared to its average volume of 991,507. The firm has a market cap of $9.55 billion and a PE ratio of -12.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.86 and a current ratio of 0.99. The business's 50-day moving average price is $44.66 and its two-hundred day moving average price is $52.70. Lineage, Inc. has a 1-year low of $41.61 and a 1-year high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last posted 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 analysts' expectations of $1.34 billion. Lineage had a negative return on equity of 7.24% and a negative net margin of 11.88%. Lineage's revenue was down 2.7% on a year-over-year basis. Equities research analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Monday, June 30th. Lineage's dividend payout ratio (DPR) is presently -65.53%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LINE shares. Morgan Stanley downgraded shares of Lineage from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $75.00 to $50.00 in a report on Monday, June 23rd. Citigroup cut their price target on shares of Lineage from $64.00 to $49.00 and set a "neutral" rating for the company in a research note on Thursday, June 12th. Wells Fargo & Company decreased their price objective on Lineage from $64.00 to $48.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. JPMorgan Chase & Co. cut Lineage from a "neutral" rating to an "underweight" rating and dropped their target price for the stock from $55.00 to $50.00 in a report on Monday, June 23rd. Finally, Bank of America lowered Lineage from a "buy" rating to a "neutral" rating and set a $49.00 price target on the stock. in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $61.70.

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.