Cbre Investment Management Listed Real Assets LLC Has $26.18 Million Position in Lineage, Inc. $LINE

Cbre Investment Management Listed Real Assets LLC cut its holdings in Lineage, Inc. (NASDAQ:LINE) by 25.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 446,601 shares of the company’s stock after selling 156,202 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned about 0.20% of Lineage worth $26,184,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LINE. Costello Asset Management INC acquired a new position in shares of Lineage in the 1st quarter valued at approximately $29,000. Salomon & Ludwin LLC bought a new stake in Lineage in the 1st quarter valued at approximately $34,000. PNC Financial Services Group Inc. lifted its stake in Lineage by 170.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock valued at $43,000 after acquiring an additional 460 shares in the last quarter. Quarry LP bought a new stake in Lineage in the 4th quarter valued at approximately $50,000. Finally, Global X Japan Co. Ltd. bought a new stake in Lineage in the 1st quarter valued at approximately $74,000.

Lineage Stock Up 3.0%

LINE opened at $40.28 on Friday. Lineage, Inc. has a 1-year low of $38.83 and a 1-year high of $86.60. The stock’s fifty day simple moving average is $42.74 and its 200 day simple moving average is $49.39. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. The stock has a market cap of $9.21 billion and a PE ratio of -14.44.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. The company’s revenue for the quarter was up .9% on a year-over-year basis. As a group, research analysts expect that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were paid a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Monday, June 30th. Lineage’s dividend payout ratio is -75.63%.

Analyst Upgrades and Downgrades

LINE has been the topic of several research reports. Scotiabank cut their target price on Lineage from $56.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 15th. Royal Bank Of Canada cut their target price on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, August 18th. Morgan Stanley cut Lineage from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $75.00 to $50.00 in a research note on Monday, June 23rd. Piper Sandler cut their target price on Lineage from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Finally, Wells Fargo & Company dropped their price objective on Lineage from $64.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday, May 19th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $53.53.

Insiders Place Their Bets

In other news, insider Sudarsan V. Thattai acquired 3,563 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the transaction, the insider directly owned 7,983 shares of the company’s stock, valued at approximately $338,878.35. This represents a 80.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Kevin Patrick Marchetti acquired 12,345 shares of the stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $40.44 per share, for a total transaction of $499,231.80. Following the transaction, the chairman directly owned 74,668 shares in the company, valued at approximately $3,019,573.92. This trade represents a 19.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 39,448 shares of company stock worth $1,645,752. 71.90% of the stock is owned by company insiders.

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.