Lineage, Inc.’s (NASDAQ:LINE) Lock-Up Period Set To Expire on January 21st

Lineage’s (NASDAQ:LINE) lock-up period is set to end on Tuesday, January 21st. Lineage had issued 56,882,051 shares in its initial public offering on July 25th. The total size of the offering was $4,436,799,978 based on an initial share price of $78.00. After the end of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LINE shares. Royal Bank of Canada decreased their target price on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. The Goldman Sachs Group decreased their target price on Lineage from $104.00 to $89.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Robert W. Baird decreased their target price on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Scotiabank decreased their target price on Lineage from $94.00 to $76.00 and set a “sector outperform” rating for the company in a research report on Tuesday, December 10th. Finally, Evercore ISI cut their price objective on Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.76.

Lineage Stock Performance

NASDAQ LINE opened at $54.35 on Thursday. The company has a 50 day moving average price of $61.47. 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 has a 52 week low of $52.75 and a 52 week high of $89.85.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data 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). 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 the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company earned $0.75 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. Analysts anticipate that Lineage will post 3 earnings per share for the current year.

Lineage Dividend Announcement

The business 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. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Tuesday, December 31st.

Institutional Investors Weigh In On Lineage

A number of institutional investors and hedge funds have recently made changes to their positions in LINE. Wellington Management Group LLP bought a new stake in shares of Lineage during the 3rd quarter worth approximately $265,895,000. Victory Capital Management Inc. acquired a new position in shares of Lineage during the 3rd quarter worth approximately $176,790,000. Principal Financial Group Inc. acquired a new position in shares of Lineage during the 3rd quarter worth approximately $173,115,000. Baillie Gifford & Co. acquired a new position in shares of Lineage during the 3rd quarter worth approximately $134,351,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Lineage during the 3rd quarter worth approximately $131,875,000.

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.