10,146 Shares in Lineage, Inc. (NASDAQ:LINE) Purchased by Allstate Corp

Allstate Corp purchased a new stake in shares of Lineage, Inc. (NASDAQ:LINE) during the 4th quarter, Holdings Channel.com reports. The fund purchased 10,146 shares of the company’s stock, valued at approximately $594,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Lineage by 7,466.7% during the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 448 shares during the last quarter. Stifel Financial Corp purchased a new position in Lineage in the 3rd quarter worth about $211,000. MetLife Investment Management LLC bought a new stake in Lineage during the 3rd quarter valued at about $226,000. Quantbot Technologies LP purchased a new stake in Lineage in the 3rd quarter valued at about $323,000. Finally, Centiva Capital LP bought a new position in Lineage in the 3rd quarter worth about $355,000.

Lineage Stock Performance

Lineage stock opened at $56.91 on Wednesday. Lineage, Inc. has a fifty-two week low of $52.75 and a fifty-two week 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. The business’s 50-day simple moving average is $58.51 and its two-hundred day simple moving average is $64.39.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a $0.5275 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 3.71%.

Insider Buying and Selling

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the business’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the transaction, the chairman now owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on LINE shares. BNP Paribas initiated coverage on shares of Lineage in a research note on Tuesday, January 14th. They set a “neutral” rating and a $61.00 price target for the company. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $78.00 to $75.00 in a report on Friday, December 20th. Citigroup initiated coverage on Lineage in a research note on Friday, March 28th. They set a “neutral” rating and a $64.00 price target on the stock. Royal Bank of Canada lowered their price objective on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, Morgan Stanley cut their target price on shares of Lineage from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday. Eight 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.67.

Lineage 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.