Lineage, Inc.’s Lock-Up Period Will Expire Tomorrow (NASDAQ:LINE)

Lineage’s (NASDAQ:LINE) lock-up period will expire on Tuesday, January 21st. Lineage had issued 56,882,051 shares in its IPO on July 25th. The total size of the offering was $4,436,799,978 based on an initial share price of $78.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. BNP Paribas assumed coverage on Lineage in a report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 target price on the stock. Mizuho dropped their target price on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Evercore ISI lowered their price objective on Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Robert W. Baird lowered their price objective on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lowered Lineage from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $85.06.

Lineage Trading Up 1.3 %

Shares of LINE opened at $58.18 on Monday. The business has a 50 day moving average price of $60.80. The company has a quick ratio of 0.95, a current ratio of 1.07 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 released 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 net margin of 12.18% and a negative return on equity of 9.89%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts expect that Lineage will post 2.33 earnings per share for the current fiscal year.

Lineage Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.63%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LINE. SG Americas Securities LLC acquired a new position in Lineage during the 3rd quarter valued at approximately $658,000. Perpetual Ltd bought a new stake in Lineage during the 3rd quarter valued at $324,000. Renaissance Capital LLC bought a new stake in Lineage during the 3rd quarter valued at $5,209,000. Vontobel Holding Ltd. bought a new stake in Lineage during the 3rd quarter valued at $1,026,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Lineage during the 3rd quarter valued at $3,582,000.

Lineage Company Profile

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.