Lineage, Inc. (NASDAQ:LINE – Get Free Report) shares fell 3.5% during mid-day trading on Wednesday . The company traded as low as $53.32 and last traded at $53.46. 773,404 shares traded hands during trading, an increase of 8% from the average session volume of 718,257 shares. The stock had previously closed at $55.40.
Wall Street Analysts Forecast Growth
Several research firms recently commented on LINE. Robert W. Baird reduced their price target on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Mizuho reduced their target price on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada lowered their price target on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. BNP Paribas started coverage on Lineage in a research note on Tuesday. They issued a “neutral” rating and a $61.00 price objective on the stock. Finally, Evercore ISI decreased their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lineage currently has a consensus rating of “Moderate Buy” and an average target price of $85.76.
Check Out Our Latest Stock Report on Lineage
Lineage Price Performance
Lineage (NASDAQ:LINE – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. Equities research analysts anticipate that Lineage, Inc. 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 given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Tuesday, December 31st.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Lineage in the 3rd quarter valued at about $658,000. Perpetual Ltd purchased a new stake in shares of Lineage during the third quarter worth approximately $324,000. Renaissance Capital LLC acquired a new stake in Lineage in the third quarter valued at approximately $5,209,000. Vontobel Holding Ltd. purchased a new position in Lineage in the third quarter worth approximately $1,026,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Lineage during the 3rd quarter worth approximately $3,582,000.
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.
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