Allstate Corp Makes New Investment in Lineage, Inc. (NASDAQ:LINE)

Allstate Corp bought a new stake in shares of Lineage, Inc. (NASDAQ:LINE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,146 shares of the company’s stock, valued at approximately $594,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LINE. Norges Bank bought a new position in Lineage in the fourth quarter valued at about $681,572,000. Wellington Management Group LLP bought a new position in shares of Lineage in the 3rd quarter worth approximately $265,895,000. Principal Financial Group Inc. purchased a new position in shares of Lineage in the third quarter worth approximately $173,115,000. Janus Henderson Group PLC bought a new stake in Lineage during the third quarter valued at approximately $131,875,000. Finally, State Street Corp purchased a new stake in Lineage during the third quarter valued at approximately $113,483,000.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Mizuho dropped their price target on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. 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 report on Friday, January 17th. Piper Sandler decreased their price objective on Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Robert W. Baird cut their price objective on Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, BNP Paribas assumed coverage on shares of Lineage in a research note on Tuesday, January 14th. They set a “neutral” rating and a $61.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.67.

Lineage Price Performance

Shares of Lineage stock opened at $56.91 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. Lineage, Inc. has a 12 month low of $52.75 and a 12 month high of $89.85. The stock has a 50 day moving average of $58.51 and a 200 day moving average of $64.39.

Lineage Dividend Announcement

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

Insider Activity 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 cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the purchase, the chairman now directly owns 24,317 shares of the company’s stock, valued at $1,471,178.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.40% of the stock is owned by insiders.

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.