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

Lineage, Inc. (NASDAQ:LINE) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.5275 per share on Monday, April 21st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Monday, March 31st.

Lineage Trading Down 1.5 %

Shares of LINE stock opened at $58.98 on Friday. The stock’s 50-day moving average price is $58.57 and its 200 day moving average price is $64.98. 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 has a 52-week low of $52.75 and a 52-week high of $89.85.

Insider Buying and Selling at Lineage

In related news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of Lineage stock in a transaction 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 completion of the purchase, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LINE. Piper Sandler cut their price target on Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Scotiabank boosted their price objective on shares of Lineage from $73.00 to $74.00 and gave the company a “sector outperform” rating in a research note on Monday, March 10th. Mizuho reduced their target price on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered shares of Lineage from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. Finally, Citigroup started coverage on shares of Lineage in a report on Friday. They set a “neutral” rating and a $64.00 price target for the company. Eight 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 data from MarketBeat, Lineage presently has a consensus rating of “Moderate Buy” and an average price target of $81.06.

About Lineage

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.