Public Employees Retirement System of Ohio Invests $1.75 Million in Lineage, Inc. (NASDAQ:LINE)

Public Employees Retirement System of Ohio bought a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 22,378 shares of the company's stock, valued at approximately $1,754,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. US Bancorp DE acquired a new position in Lineage in the third quarter valued at $25,000. Larson Financial Group LLC purchased a new stake in shares of Lineage in the 3rd quarter valued at about $34,000. Spirit of America Management Corp NY acquired a new stake in shares of Lineage in the 3rd quarter valued at about $165,000. Stifel Financial Corp purchased a new position in Lineage during the 3rd quarter worth approximately $211,000. Finally, MetLife Investment Management LLC acquired a new position in Lineage during the third quarter worth approximately $226,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LINE shares. Capital One Financial started coverage on Lineage in a report on Monday, September 16th. They issued an "overweight" rating and a $91.00 price objective for the company. Robert W. Baird decreased their target price on shares of Lineage from $91.00 to $85.00 and set an "outperform" rating for the company in a research note on Thursday, November 7th. Scotiabank dropped their price target on Lineage from $94.00 to $76.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, December 10th. Wells Fargo & Company increased their price objective on Lineage from $86.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 28th. Finally, Evercore ISI cut their price target on Lineage from $88.00 to $78.00 and set an "in-line" rating for the company in a research note on Thursday, November 7th. Five investment 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $89.63.

Lineage Stock Down 4.4 %

Shares of NASDAQ LINE traded down $2.62 during midday trading on Thursday, hitting $56.90. The company had a trading volume of 1,675,209 shares, compared to its average volume of 1,342,376. Lineage, Inc. has a twelve month low of $56.87 and a twelve month high of $89.85. The firm has a 50-day simple moving average of $67.98. 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 (NASDAQ:LINE - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($3.22). The company had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company's quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the business posted $0.75 earnings per share. Equities research analysts anticipate that Lineage, Inc. will post 3 EPS for the current fiscal year.

Lineage Announces Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, December 31st. This represents a $2.11 dividend on an annualized basis and a yield of 3.71%.

Lineage Company 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.