Lineage, Inc. $LINE Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in Lineage, Inc. (NASDAQ:LINE) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,367 shares of the company’s stock after selling 627 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Lineage were worth $2,845,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC raised its stake in 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 last quarter. PNC Financial Services Group Inc. raised its stake in Lineage by 170.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock valued at $43,000 after purchasing an additional 460 shares during the last quarter. Costello Asset Management INC acquired a new position in Lineage in the 1st quarter valued at about $29,000. First Pacific Financial lifted its position in Lineage by 16.8% during the second quarter. First Pacific Financial now owns 3,576 shares of the company’s stock worth $156,000 after buying an additional 515 shares during the period. Finally, Aberdeen Group plc lifted its position in Lineage by 3.6% during the first quarter. Aberdeen Group plc now owns 16,568 shares of the company’s stock worth $971,000 after buying an additional 580 shares during the period.

Lineage Stock Up 2.0%

Shares of NASDAQ:LINE opened at $39.02 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.96. Lineage, Inc. has a 1 year low of $36.66 and a 1 year high of $75.65. The stock has a market capitalization of $8.93 billion, a P/E ratio of -13.99 and a beta of -0.23. The stock has a 50-day simple moving average of $40.47 and a 200-day simple moving average of $43.62.

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 analysts’ consensus estimates of $0.75 by $0.06. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. The company’s revenue was up .9% compared to the same quarter last year. Equities analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Tuesday, September 30th were paid 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 5.4%. Lineage’s dividend payout ratio (DPR) is -75.63%.

Insider Transactions at Lineage

In related news, insider Sudarsan V. Thattai bought 3,563 shares of the stock in a transaction dated Friday, August 8th. The stock was acquired at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the purchase, the insider owned 7,983 shares in the company, valued at $338,878.35. This represents a 80.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Kevin Patrick Marchetti bought 12,345 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $40.44 per share, with a total value of $499,231.80. Following the purchase, the chairman owned 74,668 shares of the company’s stock, valued at approximately $3,019,573.92. This represents a 19.81% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 39,448 shares of company stock valued at $1,645,752. Insiders own 71.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. The Goldman Sachs Group reduced their target price on Lineage from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Wells Fargo & Company reduced their target price on Lineage from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 27th. Morgan Stanley reduced their target price on Lineage from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Monday, September 22nd. Robert W. Baird reduced their target price on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 13th. Finally, Royal Bank Of Canada reduced their target price on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, August 18th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $49.61.

Lineage Company 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.