Daiwa Securities Group Inc. Boosts Stock Holdings in Lineage, Inc. (NASDAQ:LINE)

Daiwa Securities Group Inc. increased its position in Lineage, Inc. (NASDAQ:LINE) by 130.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,070,915 shares of the company’s stock after acquiring an additional 605,670 shares during the period. Daiwa Securities Group Inc.’s holdings in Lineage were worth $62,723,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. US Bancorp DE purchased a new position in shares of Lineage in the third quarter worth $25,000. Janney Montgomery Scott LLC bought a new stake in Lineage in the 3rd quarter worth about $781,000. Van ECK Associates Corp purchased a new position in Lineage in the 3rd quarter worth about $833,000. Amalgamated Bank bought a new position in Lineage during the 3rd quarter valued at about $255,000. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Lineage during the 3rd quarter valued at about $2,145,000.

Analyst Ratings Changes

LINE has been the subject of several research reports. Piper Sandler decreased their price objective on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $78.00 to $75.00 in a report on Friday, December 20th. Mizuho dropped 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. Robert W. Baird reduced 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. Finally, Scotiabank dropped their target price on Lineage from $76.00 to $73.00 and set a “sector outperform” rating on the stock in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the company’s stock in a transaction on Friday, February 28th. The stock was 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 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.40% of the company’s stock.

Lineage Price Performance

Shares of NASDAQ LINE opened at $61.26 on Monday. Lineage, Inc. has a 1 year low of $52.75 and a 1 year high of $89.85. The firm has a fifty day moving average price of $57.95 and a 200-day moving average price of $67.30. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st were paid 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 3.44%.

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.