Van ECK Associates Corp Invests $833,000 in Lineage, Inc. (NASDAQ:LINE)

Van ECK Associates Corp purchased a new stake in Lineage, Inc. (NASDAQ:LINE - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,670 shares of the company's stock, valued at approximately $833,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LINE. Seven Grand Managers LLC bought a new position in Lineage during the third quarter worth about $24,298,000. Sequoia Financial Advisors LLC bought a new position in shares of Lineage during the third quarter worth approximately $23,893,000. Renaissance Capital LLC acquired a new stake in shares of Lineage in the third quarter valued at approximately $5,209,000. Nisa Investment Advisors LLC acquired a new stake in shares of Lineage in the third quarter valued at approximately $4,871,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Lineage in the third quarter valued at approximately $3,582,000.

Analyst Upgrades and Downgrades

LINE has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Lineage in a report on Monday, August 19th. They issued a "hold" rating and a $90.00 price objective for the company. Scotiabank cut their price objective on shares of Lineage from $95.00 to $94.00 and set a "sector outperform" rating for the company in a research report on Monday, August 26th. Royal Bank of Canada reissued an "outperform" rating and issued a $94.00 target price on shares of Lineage in a report on Tuesday, September 3rd. JPMorgan Chase & Co. started coverage on shares of Lineage in a report on Monday, August 19th. They set an "overweight" rating and a $93.00 price target for the company. Finally, Bank of America started coverage on shares of Lineage in a research note on Monday, August 19th. They issued a "buy" rating and a $100.00 price objective on the stock. 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $92.50.

Lineage Stock Up 0.0 %

NASDAQ LINE traded up $0.02 during trading hours on Tuesday, reaching $66.77. The company's stock had a trading volume of 179,757 shares, compared to its average volume of 1,416,549. The company's fifty day simple moving average is $77.34. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. Lineage, Inc. has a 52 week low of $66.33 and a 52 week high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly 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). Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the business posted $0.75 EPS. Lineage's revenue was up .5% on a year-over-year basis. On average, research analysts forecast that Lineage, Inc. will post 3 EPS for the current year.

Lineage Announces Dividend

The business also recently announced a -- dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, September 30th were issued a dividend of $0.38 per share. The ex-dividend date was Monday, September 30th.

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.