JPMorgan Chase & Co. Buys Shares of 160,021 Lineage, Inc. (NASDAQ:LINE)

JPMorgan Chase & Co. acquired a new stake in Lineage, Inc. (NASDAQ:LINE - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 160,021 shares of the company's stock, valued at approximately $12,542,000. JPMorgan Chase & Co. owned 0.07% of Lineage as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE acquired a new position in shares of Lineage in the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC acquired a new position in shares of Lineage in the 3rd quarter valued at approximately $34,000. Spirit of America Management Corp NY acquired a new position in shares of Lineage in the 3rd quarter valued at approximately $165,000. Stifel Financial Corp acquired a new position in shares of Lineage in the 3rd quarter valued at approximately $211,000. Finally, MetLife Investment Management LLC acquired a new position in shares of Lineage in the 3rd quarter valued at approximately $226,000.

Analysts Set New Price Targets

LINE has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their price target on Lineage from $104.00 to $89.00 and set a "buy" rating for the company in a research report on Thursday, November 14th. Scotiabank reduced their price target on Lineage from $94.00 to $76.00 and set a "sector outperform" rating for the company in a research report on Tuesday, December 10th. Evercore ISI reduced their price target on Lineage from $88.00 to $78.00 and set an "in-line" rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada reduced their price target on Lineage from $94.00 to $81.00 and set an "outperform" rating for the company in a research report on Wednesday, November 13th. Finally, Robert W. Baird reduced their price target on Lineage from $91.00 to $85.00 and set an "outperform" rating for the company in a research report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $87.31.

Lineage Stock Down 1.8 %

LINE traded down $1.00 during trading hours on Friday, reaching $55.47. The company's stock had a trading volume of 706,968 shares, compared to its average volume of 701,145. Lineage, Inc. has a 52 week low of $54.90 and a 52 week high of $89.85. The company's 50-day simple moving average is $62.16. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($3.22). The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 EPS. As a group, research analysts expect that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Tuesday, December 31st.

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.