Lineage (NASDAQ:LINE) Price Target Lowered to $74.00 at Royal Bank of Canada

Lineage (NASDAQ:LINE) had its price objective lowered by Royal Bank of Canada from $81.00 to $74.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts also recently weighed in on LINE. Robert W. Baird decreased their target price on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Evercore ISI decreased their target price on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. BNP Paribas initiated coverage on Lineage in a report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 price target on the stock. Piper Sandler cut their price target on Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, Scotiabank cut their price target on Lineage from $76.00 to $73.00 and set a “sector outperform” rating on the stock in a report on Monday, February 3rd. Seven 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Lineage Stock Performance

NASDAQ:LINE opened at $61.00 on Thursday. The company has a 50 day simple moving average of $57.87 and a two-hundred day simple moving average of $67.80. 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 has a fifty-two week low of $52.75 and a fifty-two week high of $89.85.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st were issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Tuesday, December 31st.

Insider Buying and Selling

In related news, Chairman Adam Matthew Schwartz Forste acquired 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 owns 24,317 shares in the company, valued at approximately $1,471,178.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lineage

Several large investors have recently bought and sold shares of LINE. Norges Bank bought a new position in Lineage during the 4th quarter valued at $681,572,000. Wellington Management Group LLP bought a new position in Lineage during the 3rd quarter valued at $265,895,000. D1 Capital Partners L.P. lifted its stake in Lineage by 257.5% during the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company’s stock valued at $219,848,000 after acquiring an additional 2,703,598 shares in the last quarter. Victory Capital Management Inc. bought a new position in Lineage during the 3rd quarter valued at $176,790,000. Finally, Principal Financial Group Inc. bought a new position in Lineage during the 3rd quarter valued at $173,115,000.

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.