Lineage, Inc. (NASDAQ:LINE) Shares Sold by Centersquare Investment Management LLC

Key Points

• Centersquare Investment Management LLC has reduced its stake in Lineage, Inc. by 2.0%, now holding approximately 1,262,475 shares valued at $74 million.
• Lineage recently declared a quarterly dividend of $0.5275 per share, representing an annualized yield of 4.7%.
• Analysts have downgraded Lineage's stock ratings, resulting in a new average price target of $61.15 while maintaining an overall rating of "Hold."

Centersquare Investment Management LLC decreased its position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,262,475 shares of the company's stock after selling 26,126 shares during the period. Centersquare Investment Management LLC owned approximately 0.55% of Lineage worth $74,019,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. FIL Ltd bought a new stake in shares of Lineage in the 4th quarter worth about $29,000. Costello Asset Management INC purchased a new stake in Lineage during the 1st quarter valued at $29,000. Salomon & Ludwin LLC bought a new stake in Lineage in the first quarter worth $34,000. PNC Financial Services Group Inc. boosted its stake in Lineage by 170.4% during the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company's stock worth $43,000 after buying an additional 460 shares during the period. Finally, Quarry LP purchased a new position in Lineage during the fourth quarter worth $50,000.

Lineage Stock Down 4.2%

Shares of NASDAQ LINE traded down $1.89 during trading hours on Thursday, hitting $42.80. 2,231,370 shares of the stock were exchanged, compared to its average volume of 1,090,876. The company has a market cap of $9.78 billion and a PE ratio of -15.34. Lineage, Inc. has a 12 month low of $40.49 and a 12 month high of $88.78. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average price of $43.62 and a 200-day moving average price of $50.87.

Lineage (NASDAQ:LINE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. Lineage had a negative return on equity of 5.75% and a negative net margin of 10.57%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. The company's quarterly revenue was up .9% on a year-over-year basis. On average, sell-side analysts expect that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, June 30th were issued a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.9%. Lineage's payout ratio is -75.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Evercore ISI lowered their target price on shares of Lineage from $68.00 to $59.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company dropped their price objective on Lineage from $64.00 to $48.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. JPMorgan Chase & Co. lowered Lineage from a "neutral" rating to an "underweight" rating and reduced their target price for the stock from $55.00 to $50.00 in a research note on Monday, June 23rd. BNP Paribas Exane downgraded Lineage from a "neutral" rating to an "underperform" rating and set a $42.00 target price for the company. in a research report on Thursday, June 12th. Finally, UBS Group decreased their price target on shares of Lineage from $49.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $60.90.

Lineage 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.