Clearbridge Investments LLC Acquires 135,179 Shares of Lineage, Inc. (NASDAQ:LINE)

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

Several other large investors have also recently modified their holdings of LINE. Charles Schwab Investment Management Inc. purchased a new stake in Lineage during the 3rd quarter valued at about $13,786,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Lineage during the third quarter valued at approximately $2,612,000. Quantbot Technologies LP bought a new position in shares of Lineage in the third quarter worth approximately $323,000. BNP Paribas Financial Markets bought a new position in shares of Lineage in the third quarter worth approximately $2,993,000. Finally, MetLife Investment Management LLC purchased a new position in shares of Lineage in the third quarter worth $226,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LINE shares. Royal Bank of Canada cut their price target on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Morgan Stanley cut their target price on Lineage from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Tuesday. Robert W. Baird lowered their price target on Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Scotiabank lifted their price objective on Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 10th. Finally, Piper Sandler decreased their target price on Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lineage currently has an average rating of “Moderate Buy” and a consensus price target of $79.67.

Lineage Trading Down 2.9 %

Shares of NASDAQ LINE opened at $56.91 on Wednesday. The company has a 50 day simple moving average of $58.51 and a two-hundred day simple moving average of $64.39. Lineage, Inc. has a fifty-two week low of $52.75 and a fifty-two week high of $89.85. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Monday, March 31st.

Insider Buying and Selling at Lineage

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the acquisition, the chairman now owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.