Diametric Capital LP Sells 1,805 Shares of Lineage, Inc. (NASDAQ:LINE)

Diametric Capital LP reduced its stake in Lineage, Inc. (NASDAQ:LINE) by 25.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,333 shares of the company’s stock after selling 1,805 shares during the quarter. Diametric Capital LP’s holdings in Lineage were worth $312,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Lineage during the 4th quarter worth approximately $681,572,000. Wellington Management Group LLP bought a new position in Lineage during the 3rd quarter worth $265,895,000. Principal Financial Group Inc. acquired a new stake in shares of Lineage during the third quarter worth $173,115,000. Janus Henderson Group PLC bought a new stake in shares of Lineage in the third quarter valued at about $131,875,000. Finally, State Street Corp acquired a new position in shares of Lineage in the third quarter valued at about $113,483,000.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LINE shares. JPMorgan Chase & Co. downgraded shares of Lineage from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $78.00 to $75.00 in a report on Friday, December 20th. The Goldman Sachs Group cut their price target on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, January 17th. BNP Paribas assumed coverage on Lineage in a research report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 price target on the stock. Citigroup initiated coverage on Lineage in a report on Friday, March 28th. They issued a “neutral” rating and a $64.00 price objective for the company. Finally, 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. Eight 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $79.67.

Insider Activity at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the acquisition, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by company insiders.

Lineage Trading Down 2.9 %

Shares of NASDAQ:LINE opened at $56.91 on Wednesday. Lineage, Inc. has a one year low of $52.75 and a one year high of $89.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $58.51 and a 200 day simple moving average of $64.39.

Lineage Dividend Announcement

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

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.