Westpac Banking Corp Sells 1,349 Shares of Lineage, Inc. (NASDAQ:LINE)

Westpac Banking Corp cut its stake in Lineage, Inc. (NASDAQ:LINE) by 7.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,657 shares of the company’s stock after selling 1,349 shares during the quarter. Westpac Banking Corp’s holdings in Lineage were worth $917,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its position in Lineage by 1.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company’s stock valued at $595,000 after buying an additional 185 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Lineage by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company’s stock valued at $1,740,000 after purchasing an additional 291 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Lineage by 9.7% in the fourth quarter. M&T Bank Corp now owns 4,987 shares of the company’s stock valued at $292,000 after purchasing an additional 439 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Lineage by 7,466.7% during the fourth 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. Finally, EPIQ Capital Group LLC boosted its holdings in Lineage by 10.9% during the fourth quarter. EPIQ Capital Group LLC now owns 5,100 shares of the company’s stock worth $301,000 after purchasing an additional 500 shares during the last quarter.

Lineage Price Performance

NASDAQ:LINE opened at $54.35 on Friday. The business’s fifty day moving average is $58.30 and its 200 day moving average is $64.10. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. Lineage, Inc. has a 52-week low of $52.75 and a 52-week high of $89.85.

Lineage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Monday, March 31st.

Insider Transactions at Lineage

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the acquisition, the chairman now 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 legal filing with the SEC, which is available through this link. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

LINE has been the subject of several analyst reports. 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. Mizuho decreased their price target on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BNP Paribas began coverage on Lineage in a research report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price objective on the stock. Morgan Stanley decreased their target price on Lineage from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Robert W. Baird cut 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. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lineage presently has a consensus rating of “Moderate Buy” and an average target price of $79.67.

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.