Price T Rowe Associates Inc. MD Cuts Stock Position in Lineage, Inc. (NASDAQ:LINE)

Price T Rowe Associates Inc. MD decreased its holdings in Lineage, Inc. (NASDAQ:LINE - Free Report) by 47.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,484,110 shares of the company's stock after selling 2,215,744 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.09% of Lineage worth $145,496,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hsbc Holdings PLC lifted its position in Lineage by 17.4% during the 4th quarter. Hsbc Holdings PLC now owns 43,941 shares of the company's stock worth $2,574,000 after acquiring an additional 6,500 shares in the last quarter. Stifel Financial Corp raised its position in shares of Lineage by 30.5% during the 4th 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. Capital Research Global Investors lifted its position in shares of Lineage by 100.0% in the 4th quarter. Capital Research Global Investors now owns 2,000,433 shares of the company's stock worth $117,165,000 after buying an additional 1,000,433 shares during the last quarter. Capital World Investors boosted its stake in Lineage by 22.5% in the fourth quarter. Capital World Investors now owns 3,064,842 shares of the company's stock valued at $179,508,000 after acquiring an additional 563,078 shares during the period. Finally, HGI Capital Management LLC acquired a new position in Lineage during the 4th quarter valued at approximately $971,000.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a report on Friday, January 17th. Morgan Stanley cut their target price on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 1st. Citigroup started coverage on Lineage in a research report on Friday, March 28th. They set a "neutral" rating and a $64.00 price target on the stock. Scotiabank restated a "sector perform" rating and set a $56.00 price objective (down from $74.00) on shares of Lineage in a research report on Thursday, April 10th. Finally, Barclays assumed coverage on shares of Lineage in a research report on Wednesday, April 9th. They issued an "overweight" rating and a $59.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lineage presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.26.

Lineage Price Performance

Shares of NASDAQ LINE traded down $1.47 during mid-day trading on Friday, reaching $45.75. 596,671 shares of the company were exchanged, compared to its average volume of 1,257,977. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. Lineage, Inc. has a twelve month low of $45.62 and a twelve month high of $89.85. The company's 50-day simple moving average is $56.76 and its 200-day simple moving average is $60.68.

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 the consensus estimate of $0.82 by $0.04. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage's revenue for the quarter was down 2.7% on a year-over-year basis. On average, research analysts predict that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were issued a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Monday, March 31st.

Insider Activity at Lineage

In related news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the purchase, the chairman now directly owns 24,317 shares of the company's stock, valued at $1,471,178.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by company insiders.

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.