Sumitomo Mitsui Trust Group Inc. Makes New $5.07 Million Investment in Lineage, Inc. (NASDAQ:LINE)

Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Lineage, Inc. (NASDAQ:LINE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 64,691 shares of the company’s stock, valued at approximately $5,070,000.

A number of other hedge funds also recently made changes to their positions in the business. US Bancorp DE bought a new stake in shares of Lineage during the third quarter valued at approximately $25,000. Spirit of America Management Corp NY acquired a new position in shares of Lineage during the third quarter valued at approximately $165,000. Amalgamated Bank acquired a new position in shares of Lineage during the third quarter valued at approximately $255,000. Villere ST Denis J & Co. LLC acquired a new position in shares of Lineage during the third quarter valued at approximately $314,000. Finally, Perpetual Ltd acquired a new position in shares of Lineage during the third quarter valued at approximately $324,000.

Wall Street Analyst Weigh In

A number of research firms recently commented on LINE. Bank of America began coverage on shares of Lineage in a research note on Monday, August 19th. They set a “buy” rating and a $100.00 price objective on the stock. Royal Bank of Canada lowered their price objective on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Wells Fargo & Company raised their price objective on shares of Lineage from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Robert W. Baird decreased their price target on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group decreased their price target on shares of Lineage from $104.00 to $89.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lineage presently has an average rating of “Moderate Buy” and a consensus price target of $90.75.

Lineage Trading Up 0.1 %

NASDAQ LINE opened at $63.61 on Tuesday. Lineage, Inc. has a twelve month low of $62.65 and a twelve month 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 business’s 50 day moving average price is $75.52.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($3.22). Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. Sell-side analysts forecast that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Announces Dividend

The business also recently announced a — dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, September 30th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, September 30th.

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.