Lineage, Inc. (NASDAQ:LINE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in Lineage, Inc. (NASDAQ:LINE) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,130,791 shares of the company’s stock after selling 77,891 shares during the period. Principal Financial Group Inc.’s holdings in Lineage were worth $124,801,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LINE. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Lineage in the third quarter valued at approximately $867,000. Sequoia Financial Advisors LLC acquired a new stake in Lineage in the third quarter valued at approximately $23,893,000. IFM Investors Pty Ltd acquired a new stake in Lineage in the third quarter valued at approximately $1,122,000. Spirit of America Management Corp NY acquired a new stake in Lineage in the third quarter valued at approximately $165,000. Finally, State of Alaska Department of Revenue acquired a new stake in Lineage in the third quarter valued at approximately $2,306,000.

Lineage Trading Down 1.5 %

NASDAQ:LINE opened at $55.53 on Wednesday. Lineage, Inc. has a 52 week low of $52.75 and a 52 week high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. The stock’s fifty day moving average is $58.42 and its two-hundred day moving average is $69.85.

Lineage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st were given a $0.5275 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.11 dividend on an annualized basis and a yield of 3.80%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LINE. Robert W. Baird lowered their price target on Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered Lineage from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. BNP Paribas began coverage on Lineage in a research note on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price target on the stock. Mizuho lowered their price target on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada lowered their price target on Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lineage has an average rating of “Moderate Buy” and a consensus target price of $84.88.

About Lineage

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.