Cbre Investment Management Listed Real Assets LLC Reduces Position in Lineage, Inc. $LINE

Key Points

• Cbre Investment Management Listed Real Assets LLC reduced its holdings in Lineage, Inc. by 25.9% in the first quarter, now owning about 0.20% of the company valued at $26.18 million.
• Lineage, Inc. recently reported earnings of $0.81 per share, exceeding expectations by $0.06, and showed a 0.9% year-over-year increase in revenue.
• The company announced a quarterly dividend of $0.5275 per share, representing a yield of 5.2%, with a negative payout ratio of -75.63%.

Cbre Investment Management Listed Real Assets LLC lessened its stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 25.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 446,601 shares of the company's stock after selling 156,202 shares during the period. Cbre Investment Management Listed Real Assets LLC owned 0.20% of Lineage worth $26,184,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in LINE. Costello Asset Management INC bought a new position in shares of Lineage during the 1st quarter valued at about $29,000. Salomon & Ludwin LLC purchased a new position in Lineage in the first quarter worth about $34,000. PNC Financial Services Group Inc. grew its position in Lineage by 170.4% in the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company's stock worth $43,000 after acquiring an additional 460 shares in the last quarter. Quarry LP purchased a new position in Lineage in the fourth quarter worth about $50,000. Finally, Global X Japan Co. Ltd. purchased a new position in Lineage in the first quarter worth about $74,000.

Wall Street Analyst Weigh In

Several research firms recently commented on LINE. KeyCorp reiterated a "sector weight" rating and issued a $84.00 price target on shares of Lineage in a research report on Tuesday, July 1st. Piper Sandler decreased their price objective on shares of Lineage from $60.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Bank of America reissued an "underperform" rating and issued a $42.00 price objective (down previously from $47.00) on shares of Lineage in a research note on Monday, August 11th. BNP Paribas set a $42.00 price objective on shares of Lineage in a research note on Thursday, June 12th. Finally, The Goldman Sachs Group decreased their price objective on shares of Lineage from $57.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $53.26.

Lineage Stock Down 0.9%

LINE stock traded down $0.38 during trading on Thursday, hitting $41.39. 176,311 shares of the company's stock traded hands, compared to its average volume of 1,027,027. The firm has a market capitalization of $9.47 billion and a P/E ratio of -14.83. The business has a fifty day simple moving average of $42.58 and a two-hundred day simple moving average of $49.04. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72. Lineage, Inc. has a 1 year low of $38.83 and a 1 year high of $84.89.

Lineage (NASDAQ:LINE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. The firm's revenue was up .9% on a year-over-year basis. Sell-side analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, June 30th were issued a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Monday, June 30th. Lineage's payout ratio is currently -75.63%.

Insider Buying and Selling at Lineage

In other news, insider Sudarsan V. Thattai purchased 3,563 shares of the business's stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $42.45 per share, with a total value of $151,249.35. Following the completion of the acquisition, the insider owned 7,983 shares of the company's stock, valued at $338,878.35. This trade represents a 80.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Kevin Patrick Marchetti purchased 23,540 shares of the business's stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $42.28 per share, for a total transaction of $995,271.20. Following the completion of the acquisition, the chairman directly owned 62,323 shares of the company's stock, valued at approximately $2,635,016.44. The trade was a 60.70% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 39,448 shares of company stock worth $1,645,752 over the last ninety days. Corporate insiders own 71.90% of the company's stock.

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.