Daiwa Securities Group Inc. Purchases 605,670 Shares of Lineage, Inc. (NASDAQ:LINE)

Daiwa Securities Group Inc. increased its position in Lineage, Inc. (NASDAQ:LINE) by 130.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,070,915 shares of the company’s stock after buying an additional 605,670 shares during the quarter. Daiwa Securities Group Inc. owned 0.47% of Lineage worth $62,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of LINE. Janney Montgomery Scott LLC lifted its holdings in shares of Lineage by 1.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company’s stock worth $595,000 after acquiring an additional 185 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Lineage by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company’s stock valued at $1,740,000 after purchasing an additional 291 shares during the last quarter. US Bancorp DE purchased a new position in Lineage in the 3rd quarter worth $25,000. Larson Financial Group LLC bought a new stake in Lineage in the third quarter worth $34,000. Finally, M&T Bank Corp boosted its position in Lineage by 9.7% during the fourth quarter. M&T Bank Corp now owns 4,987 shares of the company’s stock valued at $292,000 after buying an additional 439 shares during the period.

Lineage Stock Up 0.4 %

NASDAQ LINE opened at $61.26 on Monday. The stock’s 50 day moving average is $57.95 and its 200 day moving average is $67.30. Lineage, Inc. has a twelve month low of $52.75 and a twelve month high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st were given a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Tuesday, December 31st.

Insider Transactions at Lineage

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the purchase, the chairman now directly owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

LINE has been the topic of several analyst reports. Mizuho decreased their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group lowered their price objective on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Friday, January 17th. JPMorgan Chase & Co. downgraded shares of Lineage from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. Robert W. Baird dropped their price target on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, BNP Paribas initiated coverage on shares of Lineage in a research report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price objective on the stock. Seven 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.00.

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.