Public Employees Retirement System of Ohio Acquires New Position in Lineage, Inc. (NASDAQ:LINE)

Public Employees Retirement System of Ohio bought a new position in Lineage, Inc. (NASDAQ:LINE) during the third quarter, Holdings Channel.com reports. The institutional investor bought 22,378 shares of the company’s stock, valued at approximately $1,754,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP purchased a new position in Lineage during the third quarter worth approximately $265,895,000. Victory Capital Management Inc. acquired a new stake in shares of Lineage in the 3rd quarter worth $176,790,000. Principal Financial Group Inc. purchased a new position in shares of Lineage during the 3rd quarter worth $173,115,000. Baillie Gifford & Co. acquired a new position in shares of Lineage during the 3rd quarter valued at about $134,351,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Lineage in the third quarter valued at about $131,875,000.

Lineage Stock Down 1.7 %

Shares of LINE opened at $59.52 on Thursday. Lineage, Inc. has a fifty-two week low of $59.52 and a fifty-two week high of $89.85. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The business’s 50 day simple moving average is $68.32.

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

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Tuesday, December 31st.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LINE. Royal Bank of Canada reduced their target price on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Scotiabank reduced their price target on shares of Lineage from $94.00 to $76.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, December 10th. Robert W. Baird lowered their price objective on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Evercore ISI reduced their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Finally, Capital One Financial began coverage on Lineage in a research note on Monday, September 16th. They issued an “overweight” rating and a $91.00 price target on the stock. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.63.

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.