Nisa Investment Advisors LLC Makes New $4.87 Million Investment in Lineage, Inc. (NASDAQ:LINE)

Nisa Investment Advisors LLC purchased a new stake in Lineage, Inc. (NASDAQ:LINE) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 61,831 shares of the company’s stock, valued at approximately $4,871,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Seven Grand Managers LLC acquired a new position in shares of Lineage during the third quarter worth $24,298,000. Sequoia Financial Advisors LLC bought a new stake in Lineage during the 3rd quarter worth $23,893,000. Renaissance Capital LLC acquired a new position in Lineage in the 3rd quarter worth about $5,209,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Lineage in the 3rd quarter worth about $3,582,000. Finally, State of Alaska Department of Revenue bought a new position in Lineage in the third quarter valued at about $2,306,000. 3.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LINE has been the subject of several recent research reports. KeyCorp initiated coverage on Lineage in a research note on Monday, August 19th. They issued an “overweight” rating and a $92.00 price objective for the company. Baird R W upgraded shares of Lineage to a “strong-buy” rating in a research report on Monday, August 19th. Robert W. Baird initiated coverage on shares of Lineage in a report on Monday, August 19th. They set an “outperform” rating and a $91.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Lineage in a research note on Monday, August 19th. They issued an “overweight” rating and a $93.00 price objective on the stock. Finally, The Goldman Sachs Group lowered their target price on Lineage from $105.00 to $104.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.50.

Lineage Price Performance

LINE opened at $74.04 on Friday. Lineage, Inc. has a fifty-two week low of $73.16 and a fifty-two week high of $89.85. The company has a market capitalization of $16.86 billion and a price-to-earnings ratio of -5.49. The firm’s 50-day moving average price is $79.64. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.10 and a quick ratio of 0.95.

Lineage Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, September 30th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, September 30th. Lineage’s dividend payout ratio is currently -11.12%.

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.