Clearbridge Investments LLC Boosts Stake in Lineage, Inc. (NASDAQ:LINE)

Clearbridge Investments LLC lifted its holdings in Lineage, Inc. (NASDAQ:LINE) by 41.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 458,177 shares of the company’s stock after buying an additional 135,179 shares during the period. Clearbridge Investments LLC owned approximately 0.20% of Lineage worth $26,835,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LINE. GAMMA Investing LLC lifted its holdings in Lineage by 7,466.7% during the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after acquiring an additional 448 shares during the period. Stifel Financial Corp bought a new stake in shares of Lineage during the 3rd quarter worth $211,000. MetLife Investment Management LLC bought a new stake in shares of Lineage during the 3rd quarter worth $226,000. EntryPoint Capital LLC purchased a new position in shares of Lineage in the 4th quarter worth about $289,000. Finally, M&T Bank Corp grew its position in Lineage by 9.7% during the fourth quarter. M&T Bank Corp now owns 4,987 shares of the company’s stock valued at $292,000 after buying an additional 439 shares during the period.

Insider Buying and Selling

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the acquisition, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by company insiders.

Lineage Trading Down 2.9 %

Lineage stock opened at $56.91 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Lineage, Inc. has a fifty-two week low of $52.75 and a fifty-two week high of $89.85. The firm’s fifty day moving average price is $58.51 and its 200-day moving average price is $64.39.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be paid a $0.5275 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 3.71%.

Analyst Upgrades and Downgrades

Several brokerages have commented on LINE. Scotiabank lifted their price objective on shares of Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 10th. Robert W. Baird lowered their price target on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Citigroup initiated coverage on Lineage in a report on Friday, March 28th. They set a “neutral” rating and a $64.00 price objective for the company. The Goldman Sachs Group decreased their target price on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $78.00 to $75.00 in a research report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lineage currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.67.

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.