39,277 Shares in Lineage, Inc. (NASDAQ:LINE) Acquired by AIA Group Ltd

AIA Group Ltd bought a new stake in Lineage, Inc. (NASDAQ:LINE) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 39,277 shares of the company’s stock, valued at approximately $2,300,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 448 shares in the last quarter. Stifel Financial Corp acquired a new stake in Lineage in the third quarter valued at $211,000. MetLife Investment Management LLC purchased a new stake in Lineage during the 3rd quarter worth about $226,000. EntryPoint Capital LLC purchased a new stake in Lineage during the 4th quarter worth about $289,000. Finally, M&T Bank Corp boosted its position in shares of Lineage by 9.7% during the 4th quarter. M&T Bank Corp now owns 4,987 shares of the company’s stock worth $292,000 after acquiring an additional 439 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LINE. BNP Paribas initiated coverage on Lineage in a research report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 target price on the stock. Robert W. Baird cut their price objective 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 assumed coverage on shares of Lineage in a report on Friday. They issued a “neutral” rating and a $64.00 target price for the company. Mizuho cut their price target on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Piper Sandler decreased their price objective on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.06.

Insider Buying and Selling

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Lineage Price Performance

NASDAQ:LINE opened at $58.63 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average price is $58.58 and its 200 day moving average price is $64.58. Lineage, Inc. has a 1-year low of $52.75 and a 1-year high of $89.85.

Lineage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a dividend of $0.5275 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.60%.

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.