Lineage, Inc. Declares Quarterly Dividend of $0.53 (NASDAQ:LINE)

Lineage, Inc. (NASDAQ:LINE) announced a quarterly dividend on Wednesday, March 19th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.5275 per share on Monday, April 21st. This represents a $2.11 annualized dividend and a dividend yield of 3.48%.

Lineage Trading Up 1.6 %

Shares of Lineage stock opened at $60.70 on Wednesday. Lineage has a 12 month low of $52.75 and a 12 month high of $89.85. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $58.02 and a 200-day simple moving average of $66.03.

Wall Street Analysts Forecast Growth

LINE has been the topic of several recent research reports. The Goldman Sachs Group cut their target price on Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Mizuho lowered 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. Royal Bank of Canada decreased their price objective on Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Robert W. Baird reduced their target price on Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, BNP Paribas initiated coverage on Lineage in a report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 target price on the stock. Seven 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, Lineage presently has an average rating of “Moderate Buy” and an average target price of $82.06.

Insider Activity

In related news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the acquisition, the chairman now directly 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

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.