Janus Henderson Group PLC Buys 1,550,478 Shares of Lineage, Inc. (NASDAQ:LINE)

Janus Henderson Group PLC raised its stake in shares of Lineage, Inc. (NASDAQ:LINE) by 92.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,233,219 shares of the company’s stock after acquiring an additional 1,550,478 shares during the period. Janus Henderson Group PLC owned approximately 1.42% of Lineage worth $189,380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. GRS Advisors LLC lifted its stake in shares of Lineage by 223.2% in the 4th quarter. GRS Advisors LLC now owns 336,954 shares of the company’s stock worth $19,735,000 after purchasing an additional 232,687 shares during the period. Graham Capital Management L.P. bought a new position in shares of Lineage in the 4th quarter worth approximately $247,000. Fairview Capital Investment Management LLC bought a new position in shares of Lineage in the 4th quarter worth approximately $11,768,000. Darlington Partners Capital Management LP bought a new position in shares of Lineage in the 4th quarter worth approximately $90,491,000. Finally, DigitalBridge Group Inc. bought a new position in shares of Lineage in the 4th quarter worth approximately $5,195,000.

Lineage Trading Up 2.0%

LINE stock opened at $45.62 on Monday. The firm has a fifty day moving average price of $55.05 and a 200 day moving average price of $59.07. Lineage, Inc. has a fifty-two week low of $42.05 and a fifty-two week 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. The firm has a market cap of $10.43 billion and a PE ratio of -14.17.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Sell-side analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Monday, March 31st. Lineage’s dividend payout ratio (DPR) is presently -65.53%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LINE shares. The Goldman Sachs Group lowered their price objective on shares of Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. BNP Paribas started coverage on shares of Lineage in a research note on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price objective on the stock. Piper Sandler lowered their price objective on shares of Lineage from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Bank of America cut shares of Lineage from a “buy” rating to a “neutral” rating and set a $49.00 target price on the stock. in a research note on Tuesday, May 6th. Finally, Royal Bank of Canada decreased their target price on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Ten investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lineage currently has an average rating of “Moderate Buy” and an average price target of $70.79.

Insider Activity at Lineage

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the company’s stock in a transaction on Friday, February 28th. The stock was 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. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kevin Patrick Marchetti acquired 11,500 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $43.75 per share, with a total value of $503,125.00. Following the completion of the purchase, the chairman now directly owns 27,733 shares of the company’s stock, valued at $1,213,318.75. This trade represents a 70.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 40,237 shares of company stock valued at $2,174,220. 1.40% of the stock is owned by corporate 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.