State Street Corp Takes $113.48 Million Position in Lineage, Inc. (NASDAQ:LINE)

State Street Corp acquired a new position in Lineage, Inc. (NASDAQ:LINE) during the third quarter, Holdings Channel reports. The firm acquired 1,440,926 shares of the company’s stock, valued at approximately $113,483,000.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LINE shares. Truist Financial assumed coverage on shares of Lineage in a research report on Monday, August 19th. They set a “buy” rating and a $94.00 price objective on the stock. Baird R W upgraded Lineage to a “strong-buy” rating in a research report on Monday, August 19th. KeyCorp initiated coverage on Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $92.00 price objective for the company. Wells Fargo & Company boosted their target price 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, Morgan Stanley began coverage on shares of Lineage in a research report on Monday, August 19th. They set an “overweight” rating and a $100.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s 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 Trading Down 0.5 %

NASDAQ:LINE opened at $62.02 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average of $69.19. Lineage, Inc. has a twelve month low of $61.00 and a twelve month high of $89.85.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, November 6th. The company reported ($2.44) EPS 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 during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts expect that Lineage, Inc. will post 3 EPS for the current year.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be given a dividend of $0.5275 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.11 annualized dividend and a dividend yield of 3.40%.

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.