State Street Corp Takes Position in Lineage, Inc. (NASDAQ:LINE)

State Street Corp bought a new position in Lineage, Inc. (NASDAQ:LINE) during the third quarter, according to its most recent filing with the SEC. The firm bought 1,440,926 shares of the company’s stock, valued at approximately $113,483,000. State Street Corp owned approximately 0.63% of Lineage as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LINE. US Bancorp DE bought a new stake in Lineage during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC purchased a new position in shares of Lineage during the third quarter valued at approximately $34,000. Spirit of America Management Corp NY bought a new stake in Lineage during the third quarter worth $165,000. Stifel Financial Corp purchased a new stake in Lineage in the 3rd quarter valued at $211,000. Finally, MetLife Investment Management LLC bought a new position in Lineage during the 3rd quarter valued at $226,000.

Wall Street Analyst Weigh In

LINE has been the subject of several recent analyst reports. KeyCorp initiated coverage on shares of Lineage in a research note on Monday, August 19th. They issued an “overweight” rating and a $92.00 target price for the company. Morgan Stanley began coverage on shares of Lineage in a research note on Monday, August 19th. They issued an “overweight” rating and a $100.00 price objective for the company. Scotiabank cut their target price on Lineage from $94.00 to $76.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, December 10th. Piper Sandler initiated coverage on Lineage in a research report on Monday, August 19th. They set an “overweight” rating and a $102.00 price target for the company. Finally, Baird R W upgraded Lineage to a “strong-buy” rating in a report on Monday, August 19th. Five investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.63.

Lineage Stock Performance

Shares of LINE stock opened at $62.02 on Monday. Lineage, Inc. has a 12 month low of $61.00 and a 12 month high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. The company’s 50 day simple moving average is $69.19.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the business earned $0.75 earnings per share. Lineage’s revenue was up .5% on a year-over-year basis. On average, equities research analysts predict that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Tuesday, December 31st.

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.