Lineage, Inc. (NASDAQ:LINE) Announces $0.53 Quarterly Dividend

Lineage, Inc. (NASDAQ:LINE) declared a quarterly dividend on Tuesday, December 10th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.5275 per share on Tuesday, January 21st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Tuesday, December 31st.

Lineage Price Performance

Shares of NASDAQ:LINE opened at $59.00 on Friday. 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 has a 52-week low of $56.67 and a 52-week high of $89.85. The stock has a 50 day moving average price of $65.85.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LINE shares. Scotiabank lowered their price target on shares of Lineage from $94.00 to $76.00 and set a “sector outperform” rating for the company in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lowered shares of Lineage from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $78.00 to $75.00 in a report on Friday, December 20th. Robert W. Baird cut their price target on Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada reduced their price objective on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Finally, Evercore ISI dropped their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.50.

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.