State Street Corp Purchases New Stake in Lineage, Inc. (NASDAQ:LINE)

State Street Corp bought a new stake in Lineage, Inc. (NASDAQ:LINE - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Capital One Financial initiated coverage on Lineage in a report on Monday, September 16th. They issued an "overweight" rating and a $91.00 price target for the company. Robert W. Baird dropped their target price on shares of Lineage from $91.00 to $85.00 and set an "outperform" rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company boosted their price target on shares of Lineage from $86.00 to $89.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 28th. Morgan Stanley started coverage on Lineage in a research report on Monday, August 19th. They set an "overweight" rating and a $100.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on Lineage in a research report on Monday, August 19th. They issued an "overweight" rating and a $93.00 target price for the company. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $89.63.

Lineage Stock Performance

NASDAQ LINE traded down $0.77 during trading hours on Monday, hitting $61.25. 1,582,929 shares of the company's stock were exchanged, compared to its average volume of 1,343,910. The stock has a 50 day simple moving average of $68.91. 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, Inc. has a 12-month low of $60.84 and a 12-month high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($3.22). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. Lineage's revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. On average, research analysts predict that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Dividend Announcement

The company 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 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 dividend yield of 3.44%.

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.