New York State Common Retirement Fund Increases Stake in Lineage, Inc.

The New York State Common Retirement Fund has significantly boosted its investment in Lineage, Inc. (NASDAQ:LINE) by 58.3% during the fourth quarter, as revealed in its latest SEC filing. The fund now holds 32,600 shares of Lineage, after acquiring an additional 12,000 shares within this period. By the conclusion of the reporting timeframe, the value of the holdings in Lineage was approximately $1,909,000.

Additionally, other institutional investors and hedge funds have also adjusted their positions in Lineage, Inc. For instance, Janney Montgomery Scott LLC increased its stake in the company by 1.9% in the fourth quarter, now owning a total of 10,154 shares valued at $595,000 after buying 185 new shares. Similarly, the State of Alaska Department of Revenue raised its investment by 1.0%, giving it 29,724 shares worth about $1,740,000 after purchasing an extra 291 shares. Other notable trades include US Bancorp DE acquiring a new stake in Lineage in the third quarter, valued at around $25,000, and Larson Financial Group LLC also establishing a new position worth approximately $34,000. GAMMA Investing LLC made a remarkable increase in its stake by 7,466.7%, now possessing 454 shares valued at $27,000 after purchasing 448 more shares during the fourth quarter.

Analyst Ratings and Recommendations

Several Wall Street analysts have shared their views on Lineage, Inc. Piper Sandler reduced its target price on Lineage from $90.00 to $75.00, maintaining an "overweight" rating. On January 14th, BNP Paribas initiated coverage on Lineage, reporting a "neutral" rating with a price target of $61.00. Likewise, Evercore ISI cut its target price from $88.00 to $78.00, giving the stock an "in-line" rating. Similarly, JPMorgan Chase & Co. downgraded Lineage from an "overweight" rating to "neutral," lowering its price outlook from $78.00 to $75.00. Robert W. Baird also revised its price target from $76.00 to $70.00, while assigning an "outperform" rating. Overall, seven analysts have rated the stock as a hold, ten as a buy, and one as a strong buy. Data indicates that Lineage, Inc. currently maintains a consensus rating of "Moderate Buy" with an average price target of $82.41.

Current Market Performance

On Monday, shares of Lineage opened at $60.25, with the stock showing a 1.0% increase. Its fifty-day simple moving average currently stands at $57.74, while the 200-day average is at $68.18. Lineage has a current ratio of 1.07, a quick ratio of 0.95, and a debt-to-equity ratio of 0.62. Over the past year, shares have ranged from a low of $52.75 to a high of $89.85.

Dividend Information

Lineage, Inc. has also announced a quarterly dividend, which shareholders received on January 21st. Those on record as of December 31st received a dividend payment of $0.5275. Annually, this equates to a dividend of $2.11, with a yield of 3.50%. The ex-dividend date was set for December 31st.

Company Overview

Lineage, Inc. is recognized as the world's largest global temperature-controlled warehouse REIT. The company boasts a vast network of over 480 facilities spread across North America, Europe, and Asia-Pacific, totaling over 84.1 million square feet and 3.0 billion cubic feet of storage capacity. By integrating comprehensive supply chain solutions and technology, Lineage partners with major food and beverage companies, enhancing distribution efficiency and sustainability while minimizing waste in the supply chain.

Investment, Stocks, Dividends