Chilton Capital Management LLC Buys New Position in Lineage, Inc. $LINE

Chilton Capital Management LLC bought a new position in Lineage, Inc. (NASDAQ:LINE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 225,175 shares of the company’s stock, valued at approximately $9,905,000.

Several other institutional investors and hedge funds have also bought and sold shares of LINE. Signaturefd LLC lifted its stake in shares of Lineage by 132.3% in the 2nd quarter. Signaturefd LLC now owns 648 shares of the company’s stock valued at $28,000 after purchasing an additional 369 shares during the period. Costello Asset Management INC purchased a new stake in shares of Lineage in the 1st quarter worth about $29,000. Salomon & Ludwin LLC bought a new position in shares of Lineage in the 1st quarter worth about $34,000. Caitong International Asset Management Co. Ltd lifted its position in Lineage by 29,300.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 882 shares of the company’s stock valued at $38,000 after acquiring an additional 879 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Lineage by 170.4% during the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock worth $43,000 after acquiring an additional 460 shares in the last quarter.

Lineage Stock Up 1.5%

Shares of LINE opened at $40.68 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $40.44 and its 200 day moving average is $44.01. Lineage, Inc. has a 12-month low of $36.66 and a 12-month high of $78.61. The company has a market capitalization of $9.31 billion, a PE ratio of -14.58 and a beta of -0.23.

Lineage (NASDAQ:LINE) last issued its earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.06. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.Lineage’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts expect that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Tuesday, September 30th were issued a $0.5275 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.2%. Lineage’s payout ratio is -75.63%.

Wall Street Analyst Weigh In

LINE has been the subject of several recent research reports. UBS Group lowered their target price on shares of Lineage from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Bank of America reaffirmed an “underperform” rating and issued a $42.00 price target (down previously from $47.00) on shares of Lineage in a research report on Monday, August 11th. Wells Fargo & Company decreased their target price on shares of Lineage from $48.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th. Piper Sandler decreased their price objective on shares of Lineage from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Finally, KeyCorp reiterated a “sector weight” rating and set a $84.00 target price on shares of Lineage in a research note on Tuesday, July 1st. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $49.61.

Insider Activity at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti acquired 23,540 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $42.28 per share, for a total transaction of $995,271.20. Following the acquisition, the chairman directly owned 62,323 shares in the company, valued at $2,635,016.44. The trade was a 60.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sudarsan V. Thattai bought 3,563 shares of the stock in a transaction dated Friday, August 8th. The shares were bought at an average cost of $42.45 per share, with a total value of $151,249.35. Following the completion of the purchase, the insider directly owned 7,983 shares of the company’s stock, valued at approximately $338,878.35. This trade represents a 80.61% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 39,448 shares of company stock worth $1,645,752. Corporate insiders own 71.90% of the company’s stock.

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.