GSI Capital Advisors LLC Acquires New Shares in Lineage, Inc. (NASDAQ:LINE)

GSI Capital Advisors LLC bought a new position in Lineage, Inc. (NASDAQ:LINE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 37,328 shares of the company’s stock, valued at approximately $2,186,000.

Several other hedge funds have also recently modified their holdings of LINE. JPMorgan Chase & Co. bought a new stake in Lineage in the 3rd quarter worth about $12,542,000. Principal Financial Group Inc. purchased a new position in shares of Lineage during the third quarter valued at approximately $173,115,000. Renaissance Capital LLC lifted its position in Lineage by 25.6% during the fourth quarter. Renaissance Capital LLC now owns 83,446 shares of the company’s stock valued at $4,887,000 after purchasing an additional 16,990 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its holdings in Lineage by 10.5% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 602,803 shares of the company’s stock worth $35,306,000 after purchasing an additional 57,302 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in Lineage in the 3rd quarter worth approximately $131,875,000.

Lineage Stock Down 2.9 %

Shares of NASDAQ LINE opened at $56.91 on Wednesday. The business’s 50 day moving average is $58.51 and its two-hundred day moving average is $64.39. Lineage, Inc. has a 1-year low of $52.75 and a 1-year high of $89.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage Dividend Announcement

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

Wall Street Analyst Weigh In

LINE has been the topic of several research reports. Royal Bank of Canada dropped their target price on Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. The Goldman Sachs Group cut their target price on shares of Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Citigroup initiated coverage on shares of Lineage in a research report on Friday, March 28th. They issued a “neutral” rating and a $64.00 price target on the stock. Mizuho cut their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Piper Sandler decreased their target price on Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.67.

Insiders Place Their Bets

In related news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the company’s stock in a transaction on Friday, February 28th. The shares were acquired at an average cost 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 approximately $1,471,178.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by insiders.

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.