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

Lineage’s (NASDAQ:LINE) lock-up period will end on Tuesday, January 21st. Lineage had issued 56,882,051 shares in its 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 expiration of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analysts Set New Price Targets

LINE has been the subject of several research analyst reports. Mizuho cut their target price on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research note 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 on the stock in a research note on Wednesday, November 13th. JPMorgan Chase & Co. downgraded Lineage from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $78.00 to $75.00 in a research report on Friday, December 20th. Robert W. Baird lowered their price objective on Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Finally, BNP Paribas began coverage on Lineage in a research report on Tuesday. They issued a “neutral” rating and a $61.00 target price for the company. Seven 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.06.

Lineage Price Performance

Shares of LINE opened at $58.18 on Friday. Lineage has a one year low of $52.75 and a one year high of $89.85. The stock has a 50 day simple moving average of $60.80. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage (NASDAQ:LINE) last announced 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). The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. Lineage’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 EPS. On average, sell-side analysts predict that Lineage will post 2.33 EPS for the current fiscal year.

Lineage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders 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 3.63%. The ex-dividend date is Tuesday, December 31st.

Institutional Trading of Lineage

Several hedge funds have recently modified their holdings of the stock. Galvin Gaustad & Stein LLC acquired a new position in Lineage during the 4th quarter worth $9,338,000. Janney Montgomery Scott LLC boosted its holdings in Lineage by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company’s stock valued at $595,000 after acquiring an additional 185 shares during the last quarter. Alpha Cubed Investments LLC acquired a new stake in Lineage in the fourth quarter worth about $387,000. Oak Thistle LLC bought a new stake in Lineage during the 4th quarter worth about $391,000. Finally, GAMMA Investing LLC lifted its position in Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 448 shares during the period.

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.