Vision Capital Corp Acquires Shares of 150,000 Lineage, Inc. (NASDAQ:LINE)

Vision Capital Corp acquired a new position in shares of Lineage, Inc. (NASDAQ:LINE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 150,000 shares of the company’s stock, valued at approximately $11,757,000. Lineage accounts for 1.9% of Vision Capital Corp’s holdings, making the stock its 20th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of LINE. Victory Capital Management Inc. bought a new position in Lineage during the third quarter worth about $176,790,000. Principal Financial Group Inc. bought a new position in shares of Lineage during the third quarter worth approximately $173,115,000. Baillie Gifford & Co. acquired a new stake in shares of Lineage in the third quarter valued at approximately $134,351,000. Daiwa Securities Group Inc. bought a new stake in shares of Lineage in the third quarter valued at approximately $36,466,000. Finally, Seven Grand Managers LLC acquired a new stake in Lineage during the third quarter worth approximately $24,298,000.

Lineage Price Performance

Shares of NASDAQ:LINE opened at $64.10 on Monday. The company has a 50-day simple moving average of $74.02. Lineage, Inc. has a 1 year low of $62.50 and a 1 year high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

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

Lineage Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, September 30th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Monday, September 30th.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Scotiabank dropped their price objective on Lineage from $95.00 to $94.00 and set a “sector outperform” rating for the company in a report on Monday, August 26th. Bank of America assumed coverage on shares of Lineage in a research note on Monday, August 19th. They issued a “buy” rating and a $100.00 price objective on the stock. UBS Group began coverage on Lineage in a research note on Monday, August 19th. They issued a “neutral” rating and a $88.00 price target on the stock. Piper Sandler assumed coverage on Lineage in a research note on Monday, August 19th. They issued an “overweight” rating and a $102.00 price objective on the stock. Finally, Royal Bank of Canada dropped their target price 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. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.75.

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.