CIBC Asset Management Inc Acquires 7,640 Shares of Lineage, Inc.

CIBC Asset Management Inc has taken a significant step by acquiring a new position in Lineage, Inc. (NASDAQ:LINE) in the fourth quarter. The firm reported its purchase in a recent 13F filing with the Securities and Exchange Commission (SEC), indicating that it bought 7,640 shares of Lineage’s stock, valued at roughly $447,000.

In addition to CIBC Asset Management, several other hedge funds have also adjusted their stakes in the company. Wellington Management Group LLP notably established a new holding in Lineage during the third quarter, valued at approximately $265,895,000. Another prominent player, Baillie Gifford & Co., increased its position by an impressive 80.8% in the fourth quarter, bringing its total to 3,098,580 shares valued at $181,484,000 after acquiring an additional 1,384,481 shares. Furthermore, Victory Capital Management Inc. and Principal Financial Group Inc. both made new investments in Lineage during the same quarter, valued at about $176,790,000 and $173,115,000 respectively. Janus Henderson Group PLC also bought a new position in Lineage valued at around $131,875,000 in the third quarter.

Analysis from Wall Street

Recent analyst reports have focused on Lineage, with various updates on their forecasts. Royal Bank of Canada lowered its target price on Lineage from $94.00 to $81.00, while maintaining an "outperform" rating on the stock as of November 13th. Similarly, Evercore ISI set a new target price of $78.00, down from $88.00, assigning an "in-line" rating in their report on November 7th. Mizuho adjusted its target from $86.00 to $67.00, offering a "neutral" rating as of January 8th. Goldman Sachs Group cut their price target on Lineage from $89.00 to $77.00 while holding a "buy" rating, and Robert W. Baird also reduced its target from $91.00 to $85.00, reiterating an "outperform" rating.

Current data indicates that seven investment analysts have issued a hold rating for the stock, while ten analysts remain optimistic with buy ratings, and there is even one strong buy rating. According to information from MarketBeat.com, Lineage currently holds an average rating of "Moderate Buy" and has an average price target of $84.88.

Latest Stock Performance of Lineage

Lineage Stock Performance

On Monday, Lineage shares opened at $53.88. The stock has a 50-day simple moving average sitting at $57.94, with a 200-day simple moving average of $69.19. The company’s one-year trading range sees a low of $52.75 and a peak of $89.85. Financial metrics include a current ratio of 1.07, a quick ratio of 0.95, and a debt-to-equity ratio of 0.62.

Dividend Updates from Lineage

Recently, Lineage also announced a quarterly dividend, which was distributed on January 21st to shareholders on record as of December 31st. Each shareholder received a dividend payment of $0.5275 per share, representing an annualized total of $2.11 and a dividend yield of 3.92%. The ex-dividend date coincided with December 31st, 2019.

About Lineage, Inc.

Lineage, Inc is recognized as the world’s largest global temperature-controlled warehouse REIT, featuring a vast network of over 480 strategically located facilities which encompass more than 84.1 million square feet and 3.0 billion cubic feet of storage capacity across North America, Europe, and Asia-Pacific. The firm collaborates with leading food and beverage producers, retailers, and distributors, enhancing distribution efficiency, promoting sustainability, minimizing supply chain waste, and fundamentally aiding in global food supply.

CIBC, Lineage, investment