Lineage (NASDAQ:LINE) Given “Sector Perform” Rating at Scotiabank

Scotiabank reaffirmed their sector perform rating on shares of Lineage (NASDAQ:LINE) in a report released on Thursday morning, Marketbeat.com reports. The firm currently has a $56.00 price objective on the stock, down from their previous price objective of $74.00.

Several other research firms have also issued reports on LINE. Citigroup initiated coverage on shares of Lineage in a research note on Friday, March 28th. They set a “neutral” rating and a $64.00 target price 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 report on Wednesday, January 8th. Robert W. Baird cut their price objective on Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada decreased 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. Finally, BNP Paribas started coverage on shares of Lineage in a report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.63.

Lineage Price Performance

LINE opened at $52.22 on Thursday. The firm has a fifty day moving average price of $57.37 and a 200 day moving average price of $62.87. Lineage has a 1 year low of $46.63 and a 1 year high of $89.85. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Monday, March 31st.

Insiders Place Their Bets

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the acquisition, the chairman now directly owns 24,317 shares of the company’s stock, valued at $1,471,178.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Lineage

Several institutional investors have recently made changes to their positions in LINE. GAMMA Investing LLC grew its position in Lineage by 7,466.7% in the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after acquiring an additional 448 shares during the period. FIL Ltd purchased a new position in shares of Lineage during the 4th quarter worth $29,000. Quarry LP acquired a new stake in shares of Lineage during the 4th quarter worth about $50,000. Parallel Advisors LLC purchased a new stake in Lineage in the 1st quarter valued at about $151,000. Finally, Stifel Financial Corp lifted its position in Lineage by 30.5% in the fourth quarter. Stifel Financial Corp now owns 3,509 shares of the company’s stock valued at $206,000 after buying an additional 821 shares during the last quarter.

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.