Lineage, Inc. Reports Third-Quarter 2024 Financial Results
Lineage, Inc. (LINE)
Company Research
Source: Business Wire
NOVI, Mich.--(BUSINESS WIRE)--Lineage, Inc. (NASDAQ: LINE) (the "Company"), the world’s largest global temperature-controlled warehouse REIT, today announced its financial results for the third quarter of 2024.Third-Quarter 2024 HighlightsRaised $5.1 billion in gross proceeds from the Company's July 2024 IPO, marking the largest IPO of the year and largest real estate IPO of all-timeTotal revenue increased 0.5% to $1.3 billionNet loss of ($543) million, or ($2.44) per diluted common shareTotal NOI increased 2.1% to $439 millionAdjusted EBITDA increased 5.4% to $333 million; adjusted EBITDA margin increased 110bps to 24.9%AFFO increased 51.8% to $208 million; AFFO per share increased 20.0% to $0.90Used IPO proceeds to reduce $4.9 billion of debt; achieved investment grade credit ratings from Fitch and Moody'sDeclared initial quarterly dividend of $0.38 per share, representing annualized dividend rate of $2.11 per shareOpened a new, fully automated cold storage warehouse in Hazleton
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News
- Lineage, Inc. (NASDAQ: LINE) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating. They now have a $75.00 price target on the stock, down previously from $78.00.MarketBeat
- Lineage, Inc. Declares Dividend for Fourth Quarter 2024Business Wire
- What Makes Lineage (LINE) a Prospective Investment? [Yahoo! Finance]Yahoo! Finance
- Lineage, Inc. (NASDAQ: LINE) had its price target lowered by analysts at Scotiabank from $94.00 to $76.00. They now have a "sector outperform" rating on the stock.MarketBeat
- Rabobank Honors Lineage at Annual Leadership SummitPR Newswire
LINE
Earnings
- 11/6/24 - Beat
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Sec Filings
- 12/11/24 - Form 8-K
- 11/6/24 - Form 4
- LINE's page on the SEC website