Lineage, Inc. (NASDAQ:LINE) Plans Quarterly Dividend of $0.53

Lineage, Inc. (NASDAQ:LINE - Get Free Report) announced a quarterly dividend on Friday, June 20th, RTT News reports. Investors of record on Monday, June 30th will be paid a dividend of 0.5275 per share on Monday, July 21st. This represents a $2.11 annualized dividend and a yield of 4.71%.

Lineage Stock Up 0.5%

Shares of NASDAQ:LINE traded up $0.21 during trading on Friday, reaching $44.76. 1,250,673 shares of the stock traded hands, compared to its average volume of 1,216,475. The stock has a market cap of $10.23 billion and a P/E ratio of -13.90. 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 stock has a 50-day moving average of $47.85 and a two-hundred day moving average of $54.68. Lineage has a 52-week low of $41.88 and a 52-week high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last posted its 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. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative return on equity of 7.24% and a negative net margin of 11.88%. The company's revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts expect that Lineage will post 2.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 10,949 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average price of $44.93 per share, with a total value of $491,938.57. Following the purchase, the chairman now owns 35,266 shares of the company's stock, valued at $1,584,501.38. This trade represents a 45.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Kevin Patrick Marchetti purchased 11,500 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $43.75 per share, with a total value of $503,125.00. Following the completion of the purchase, the chairman now directly owns 27,733 shares in the company, valued at $1,213,318.75. This trade represents a 70.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 26,869 shares of company stock worth $1,194,980 over the last three months. 71.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lineage

A number of hedge funds and other institutional investors have recently modified their holdings of LINE. Royal Bank of Canada lifted its stake in Lineage by 15.2% in the 1st quarter. Royal Bank of Canada now owns 4,956 shares of the company's stock worth $290,000 after purchasing an additional 653 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Lineage in the first quarter worth about $886,000. Finally, Millennium Management LLC increased its holdings in shares of Lineage by 197.0% in the first quarter. Millennium Management LLC now owns 288,518 shares of the company's stock worth $16,916,000 after purchasing an additional 191,362 shares during the last quarter.

Analyst Ratings Changes

LINE has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price on Lineage from $80.00 to $75.00 and set an "overweight" rating for the company in a research report on Tuesday, April 1st. Robert W. Baird reduced their price target on shares of Lineage from $70.00 to $64.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Scotiabank lowered their price objective on shares of Lineage from $56.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. BNP Paribas set a $42.00 target price on shares of Lineage in a report on Thursday, June 12th. Finally, Evercore ISI cut their target price on shares of Lineage from $68.00 to $59.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lineage has an average rating of "Hold" and a consensus target price of $64.60.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.