Lineage, Inc. Chairman Adam Matthew Schwartz Forste Acquires 24,317 Shares

Chairman Adam Matthew Schwartz Forste of Lineage, Inc. (NASDAQ:LINE - Get Free Report) recently purchased 24,317 shares of the company’s stock in a transaction completed on February 28th. The shares were acquired at an average price of $60.50 each, bringing the total purchase value to approximately $1,471,178.50. Following this acquisition, Forste now holds a total of 24,317 shares in Lineage, with his investment valued similarly at around $1,471,178.50. This investment represents a significant increase in his ownership stake in the company. The transaction was reported in a filing with the Securities and Exchange Commission (SEC), which is publicly accessible.

Current Stock Performance

On Monday, during mid-day trading, Lineage shares were down by $0.28, trading at $59.97. The stock experienced a trading volume of 913,532 shares, in comparison to its average volume of 981,906 shares. Financial metrics for the company show a quick ratio of 0.95, a current ratio of 1.07, and a debt-to-equity ratio of 0.62. Over the last year, Lineage’s stock has reached a low of $52.75 and a high of $89.85. In terms of pricing trends, their 50-day moving average stands at $57.74 while the 200-day moving average is $68.18.

Recent Dividend Announcement

Lineage also announced a quarterly dividend recently, which was distributed on January 21st to investors recorded as of December 31st. Each shareholder received a dividend payment of $0.5275, translating to an annualized dividend of $2.11 and a yield of 3.52%. The ex-dividend date was December 31st.

Analyst Ratings Overview

Recent research reports have provided new insights regarding Lineage’s stock performance. On January 17th, the Goldman Sachs Group revised its price target for Lineage from $89.00 to $77.00 and maintained a "buy" rating for the company. Scotiabank also adjusted its price target from $76.00 to $73.00, endorsing a "sector outperform" rating. Evercore ISI’s report on November 7th set an in-line rating with a price target of $78.00, while Royal Bank of Canada reduced its price target from $94.00 to $81.00, keeping an "outperform" status. Lastly, Piper Sandler lowered its target from $90.00 to $75.00 while maintaining an "overweight" rating. Currently, seven analysts have issued a hold rating for the stock, while ten have assigned a buy rating, and one has rated it as a strong buy. Collectively, the stock holds a "Moderate Buy" rating with an average target price set at $82.41, according to MarketBeat.com.

Institutional Investment Activities

Recent movements by institutional investors indicate ongoing interest in Lineage. Janney Montgomery Scott LLC increased its holdings by 1.9% in the fourth quarter, owning 10,154 shares valued at $595,000 after a purchase of 185 additional shares. The State of Alaska Department of Revenue raised their stake by 1.0% also in the fourth quarter, now holding 29,724 shares valued at $1,740,000 after acquiring 291 shares. Additionally, US Bancorp DE initiated a new stake valued at about $25,000 during the third quarter. Nissay Asset Management Corp Japan ADV boosted its position by 4.0% during the fourth quarter, ending with 8,910 shares worth $526,000 after adding 340 shares. Furthermore, Larson Financial Group LLC also started a new position during the third quarter, valued at approximately $34,000.

About Lineage, Inc.

Lineage, Inc. stands as the global leader in temperature-controlled warehousing REITs, boasting a network of over 480 strategically positioned facilities that total more than 84.1 million square feet and 3.0 billion cubic feet of storage capacity across North America, Europe, and Asia-Pacific. By providing comprehensive supply chain solutions and technological advancements, Lineage collaborates with major food and beverage producers, retailers, and distributors to boost distribution efficiency, promote sustainability, reduce supply chain waste, and contribute positively towards feeding the global population.

Lineage, Investment, Stock