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

Public Employees Retirement System of Ohio bought a new stake in shares of Lineage, Inc. (NASDAQ:LINE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,378 shares of the company’s stock, valued at approximately $1,754,000.

Several other institutional investors also recently bought and sold shares of LINE. Van ECK Associates Corp acquired a new position in shares of Lineage in the 3rd quarter valued at $833,000. TOMS Capital Investment Management LP acquired a new position in shares of Lineage in the third quarter valued at about $15,676,000. Sequoia Financial Advisors LLC purchased a new position in shares of Lineage in the third quarter worth about $23,893,000. Nicola Wealth Management LTD. acquired a new stake in shares of Lineage during the third quarter worth about $658,000. Finally, abrdn plc purchased a new stake in Lineage in the third quarter valued at approximately $1,000,000.

Lineage Price Performance

Shares of NASDAQ LINE opened at $59.52 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $68.32. Lineage, Inc. has a one year low of $59.52 and a one year high of $89.85.

Lineage (NASDAQ:LINE) last released its quarterly earnings results 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). 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 for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities research analysts forecast that Lineage, Inc. will post 3 earnings per share for the current fiscal year.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be paid a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Tuesday, December 31st.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Royal Bank of Canada reduced their price target on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Robert W. Baird reduced their target price on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. The Goldman Sachs Group lowered their price target on shares of Lineage from $104.00 to $89.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Wells Fargo & Company lifted their price objective on Lineage from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Finally, Scotiabank dropped their target price on Lineage from $94.00 to $76.00 and set a “sector outperform” rating on the stock in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.63.

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.