Principal Financial Group Inc. Cuts Holdings in Lineage, Inc. (NASDAQ:LINE)

Principal Financial Group Inc. trimmed its holdings in shares of Lineage, Inc. (NASDAQ:LINE) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,130,791 shares of the company’s stock after selling 77,891 shares during the quarter. Principal Financial Group Inc. owned approximately 0.93% of Lineage worth $124,801,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LINE. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Lineage in the third quarter valued at about $867,000. Sequoia Financial Advisors LLC purchased a new stake in Lineage in the third quarter valued at about $23,893,000. IFM Investors Pty Ltd purchased a new stake in Lineage in the third quarter valued at about $1,122,000. Spirit of America Management Corp NY purchased a new stake in Lineage in the third quarter valued at about $165,000. Finally, State of Alaska Department of Revenue purchased a new stake in Lineage in the third quarter valued at about $2,306,000.

Lineage Stock Down 1.5 %

Shares of LINE stock opened at $55.53 on Wednesday. The stock has a 50 day moving average of $58.42 and a 200 day moving average of $69.85. 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, Inc. has a twelve month low of $52.75 and a twelve month high of $89.85.

Lineage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st were given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Tuesday, December 31st.

Analyst Ratings Changes

A number of research firms have commented on LINE. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Robert W. Baird decreased their price target on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Mizuho decreased their price target on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada reduced their price objective on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group reduced their price objective on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.88.

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.