Lineage (NASDAQ:LINE) Reaches New 12-Month Low at $79.85

Lineage, Inc. (NASDAQ:LINE)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $79.85 and last traded at $80.30, with a volume of 115110 shares. The stock had previously closed at $80.65.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LINE. Royal Bank of Canada reiterated an “outperform” rating and issued a $94.00 price target on shares of Lineage in a report on Tuesday, September 3rd. The Goldman Sachs Group cut their price objective on shares of Lineage from $105.00 to $104.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Evercore ISI increased their price objective on shares of Lineage from $88.00 to $90.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Piper Sandler initiated coverage on Lineage in a research report on Monday, August 19th. They issued an “overweight” rating and a $102.00 target price for the company. Finally, JPMorgan Chase & Co. initiated coverage on Lineage in a research report on Monday, August 19th. They set an “overweight” rating and a $93.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Lineage currently has an average rating of “Moderate Buy” and a consensus price target of $93.63.

Lineage Stock Down 0.5 %

The firm has a market capitalization of $18.27 billion and a P/E ratio of -5.90. The company’s 50-day moving average price is $84.35.

Lineage Dividend Announcement

The business also recently announced a — dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, September 30th. Lineage’s payout ratio is currently -11.12%.

Insider Transactions at Lineage

In other news, insider Jeffrey Alvarez Rivera acquired 600 shares of Lineage stock in a transaction on Friday, July 26th. The stock was bought at an average price of $78.00 per share, for a total transaction of $46,800.00. Following the transaction, the insider now owns 5,406 shares of the company’s stock, valued at $421,668. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Lineage news, Director Nancy Joy Falotico acquired 1,300 shares of Lineage stock in a transaction on Friday, July 26th. The shares were bought at an average price of $78.00 per share, with a total value of $101,400.00. Following the completion of the purchase, the director now owns 2,452 shares in the company, valued at $191,256. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Alvarez Rivera bought 600 shares of the stock in a transaction dated Friday, July 26th. The stock was acquired at an average price of $78.00 per share, with a total value of $46,800.00. Following the completion of the purchase, the insider now owns 5,406 shares of the company’s stock, valued at approximately $421,668. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 12,150 shares of company stock worth $947,700. 1.40% of the stock is currently owned by company 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.