Lineage, Inc. (NASDAQ:LINE) Receives $61.15 Consensus Target Price from Brokerages

Key Points

• Analysts have given Lineage, Inc. (NASDAQ:LINE) an average recommendation of "Hold", with ratings split among three sell, ten hold, seven buy, and one strong buy.
• The company recently declared a quarterly dividend of $0.5275, which gives it an annual yield of 5.0%.
• Lineage's stock has experienced a 1.9% decline, trading at $42.35, with a 12-month range between $40.49 and $88.78.

Lineage, Inc. (NASDAQ:LINE - Get Free Report) has been given a consensus recommendation of "Hold" by the twenty-one ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $61.15.

Several equities research analysts have weighed in on LINE shares. Citigroup lowered their price objective on shares of Lineage from $64.00 to $49.00 and set a "neutral" rating for the company in a research report on Thursday, June 12th. Wells Fargo & Company cut 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 report on Monday, May 19th. Scotiabank cut their price target on Lineage from $56.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. KeyCorp reissued a "sector weight" rating and issued a $84.00 target price on shares of Lineage in a research note on Tuesday, July 1st. Finally, UBS Group reduced their price objective on shares of Lineage from $49.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd.

Insider Activity

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 10,949 shares of the stock in a transaction on Thursday, May 8th. The shares were bought at an average cost of $44.93 per share, with a total value of $491,938.57. Following the transaction, the chairman owned 35,266 shares of the company's stock, valued at approximately $1,584,501.38. This trade represents a 45.03% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 71.90% of the company's stock.

Hedge Funds Weigh In On Lineage

A number of hedge funds have recently made changes to their positions in the stock. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Lineage by 4.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 8,910 shares of the company's stock valued at $526,000 after acquiring an additional 340 shares during the last quarter. Signaturefd LLC grew its holdings in Lineage by 132.3% during the 2nd quarter. Signaturefd LLC now owns 648 shares of the company's stock worth $28,000 after acquiring an additional 369 shares during the period. State of Alaska Department of Revenue increased its position in shares of Lineage by 1.2% in the 1st quarter. State of Alaska Department of Revenue now owns 30,095 shares of the company's stock valued at $1,764,000 after buying an additional 371 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Lineage by 170.4% during the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company's stock worth $43,000 after acquiring an additional 460 shares during the period. Finally, Strs Ohio increased its stake in Lineage by 0.5% in the 2nd quarter. Strs Ohio now owns 98,088 shares of the company's stock valued at $4,269,000 after buying an additional 488 shares during the last quarter.

Lineage Stock Performance

LINE stock traded up $1.29 during mid-day trading on Monday, reaching $44.44. 1,461,279 shares of the stock traded hands, compared to its average volume of 991,328. The firm has a market capitalization of $10.16 billion and a PE ratio of -13.80. The business has a 50-day moving average of $43.64 and a two-hundred day moving average of $51.06. Lineage has a 52 week low of $40.49 and a 52 week high of $88.78. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, June 30th were given a $0.5275 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a yield of 4.7%. Lineage's dividend payout ratio (DPR) is currently -65.53%.

Lineage Company 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.