The Manufacturers Life Insurance Company Acquires Shares of 33,323 Lineage, Inc. (NASDAQ:LINE)

The Manufacturers Life Insurance Company bought a new position in shares of Lineage, Inc. (NASDAQ:LINE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 33,323 shares of the company’s stock, valued at approximately $2,612,000.

A number of other institutional investors have also made changes to their positions in the business. US Bancorp DE acquired a new stake in Lineage during the 3rd quarter valued at $25,000. Larson Financial Group LLC bought a new stake in shares of Lineage during the 3rd quarter worth about $34,000. Spirit of America Management Corp NY bought a new stake in shares of Lineage during the 3rd quarter worth about $165,000. Amalgamated Bank acquired a new position in Lineage in the 3rd quarter valued at about $255,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Lineage in the 3rd quarter valued at about $312,000.

Analyst Upgrades and Downgrades

LINE has been the topic of several research reports. Robert W. Baird decreased their target price on Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Scotiabank lowered their price objective on Lineage from $95.00 to $94.00 and set a “sector outperform” rating on the stock in a research report on Monday, August 26th. Piper Sandler started coverage on Lineage in a report on Monday, August 19th. They set an “overweight” rating and a $102.00 target price for the company. Wells Fargo & Company raised their price target on shares of Lineage from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley began coverage on shares of Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $100.00 price objective for the company. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lineage currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.75.

Lineage Price Performance

Lineage stock opened at $62.12 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Lineage, Inc. has a 52 week low of $61.00 and a 52 week high of $89.85. The stock’s fifty day simple moving average is $70.61.

Lineage (NASDAQ:LINE) last issued its earnings results on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing the consensus estimate of $0.78 by ($3.22). Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the firm posted $0.75 EPS. The firm’s revenue was up .5% compared to the same quarter last year. On average, sell-side analysts anticipate that Lineage, Inc. will post 3 earnings per share for the current fiscal year.

Lineage Announces Dividend

The business also recently disclosed a — dividend, which was paid on Monday, October 21st. Investors of record on Monday, September 30th were paid a $0.38 dividend. The ex-dividend date was Monday, September 30th.

Lineage 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.