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Investing.com - JPMorgan downgraded Lineage Inc (NASDAQ:LINE) stock rating from Neutral to Underweight on Monday, while lowering its price target to $50.00 from $55.00. The stock, currently trading at $44.76, has declined over 43% in the past year, with analyst targets ranging from $42 to $84.
The downgrade comes as the cold storage business faces headwinds tied to lower throughput volumes, which have led to occupancy and pricing pressures, according to JPMorgan’s analysis.
The firm noted that while it appreciates the size and strength of the Lineage platform and believes the company is well positioned for intermediate to longer-term growth, near-term challenges influenced the rating change.
JPMorgan’s 2025 AFFO/share estimate currently sits below the low end of management’s guidance, suggesting there could be an adjustment to the upper end of Lineage’s core growth and AFFO ranges.
The firm also highlighted that with more muted near-term growth than anticipated a couple of quarters ago, the 2026 AFFO growth headwinds from the year-end burn-off of swaps/caps have become more prominent.
In other recent news, Lineage, Inc. announced a quarterly cash dividend of $0.5275 per share for the second quarter of 2025, payable on July 21, 2025. The company also revealed that its subsidiary, Lineage OP, LP, has priced an offering of $500 million in senior unsecured notes due 2030 with a 5.25% interest rate. These notes are expected to close on June 17, 2025, with proceeds intended for repaying outstanding amounts under its revolving credit facility. Additionally, Lineage confirmed its financial guidance for 2025, aligning with previously stated expectations, ahead of its participation in Nareit’s REITweek 2025 Investor Conference. In a significant personnel update, Chief Financial Officer Rob Crisci announced his retirement plans, with Lineage actively searching for his successor. Piper Sandler maintained its Overweight rating for Lineage, setting a $60 price target, citing the company’s commitment to transparency and a strong second half of 2025. The firm highlighted Lineage’s efforts to enhance investor communication and address feedback. These developments underscore Lineage’s strategic initiatives and financial planning as it navigates the year ahead.
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