JPMorgan Chase & Co. Makes New Investment in Lineage, Inc. (NASDAQ:LINE)

JPMorgan Chase & Co. acquired a new stake in shares of Lineage, Inc. (NASDAQ:LINE) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 160,021 shares of the company’s stock, valued at approximately $12,542,000. JPMorgan Chase & Co. owned 0.07% of Lineage at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. US Bancorp DE acquired a new position in shares of Lineage in the 3rd quarter valued at $25,000. Larson Financial Group LLC acquired a new position in Lineage in the third quarter worth about $34,000. Spirit of America Management Corp NY bought a new position in Lineage during the third quarter worth about $165,000. Stifel Financial Corp acquired a new stake in Lineage during the third quarter valued at approximately $211,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Lineage in the 3rd quarter valued at approximately $226,000.

Wall Street Analyst Weigh In

Several research firms have issued reports on LINE. The Goldman Sachs Group dropped their price objective on Lineage from $104.00 to $89.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Royal Bank of Canada cut their price target on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Capital One Financial assumed coverage on shares of Lineage in a report on Monday, September 16th. They set an “overweight” rating and a $91.00 price objective for the company. Mizuho reduced their target price on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Robert W. Baird cut their price objective on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lineage presently has an average rating of “Moderate Buy” and a consensus target price of $87.31.

Lineage Stock Down 1.8 %

LINE opened at $55.47 on Friday. The stock’s fifty day simple moving average is $62.16. Lineage, Inc. has a 52 week low of $54.90 and a 52 week high of $89.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($3.22). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. Lineage’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 earnings per share. As a group, research analysts predict that Lineage, Inc. will post 3 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The company 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 $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Tuesday, December 31st.

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.