Lineage Inc (LINE)
NASDAQReal EstateReit - IndustrialSnapshot 2026-09-09
$37.59-0.77%
Close 2026-09-09 · 1-day change
NASDAQReal EstateReit - IndustrialSnapshot 2026-09-09
Warn: Management is running behind on a stated commitment.
Lineage aims to deliver adjusted EBITDA near $1.25 billion in 2026. It maintains a stable dividend of $0.53 per share. The company has beaten earnings estimates recently. Its moderate risk and stable market environment support steady income.
Lineage is loss-making with negative EPS expected through 2027. Revenue growth is slow at about 2%. The stock trades at a high PE of 48.7 versus peers at 13.8. Dividend sustainability may be at risk if earnings do not improve.
The price is about 19% above our fair value near $37 and 16% below the Street median of $44. Analysts expect only 2.3% revenue growth. Our view is cautious given stretched valuation and weak earnings.
Breaks if: adjusted EBITDA falls below $1.25 billion in FY26
Deliver full-year 2026 adjusted EBITDA in the range of $1.26 to $1.29 billion as a key financial performance target.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround story in the real estate sector. The current thesis state is cautious, as LINE is navigating a challenging environment while trying to stabilize its financial performance.
The market currently reflects a valuation that is cheap compared to peers, with a slight expectations gap. This suggests that investors may not fully anticipate the potential for improvement in LINE's fundamentals.
Management has set priorities for achieving adjusted EBITDA and maintaining dividends, but recent results show mixed progress. The company has reported strong financial performance recently, though there are signs of slight declines in key metrics.
The future of LINE's performance hinges on management's ability to meet its guidance and the overall health of the real estate sector. Key factors include potential interest rate cuts by the Fed and performance from sector leaders, which could influence investor sentiment.
The most important moves since the prior daily snapshot.
Yes, our read has weakened. The company will miss the deadline to clean up the Boyle Heights warehouse site. This missed deadline impacts its objective to increase warehouse occupancy.
as of 2026-09-09
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Stated as a priority in 3 of last 3 quarters. Management guided full-year 2026 adjusted EBITDA between $1.26 and $1.29 billion, consistent across 2025-Q4, 2026-Q1, and 2026-Q2. Adjusted EBITDA was $320 million in 2026-Q2, showing a slight decline from prior quarters but generally aligned with guidance. The trajectory is mixed with stable guidance but a slight decrease in quarterly adjusted EBITDA.
“Lineage expects full-year 2026 adjusted EBITDA of $1.26 to $1.29 billion and Adjusted FFO per share of $2.80 to $3.05.”
“Lineage expects full-year 2026 adjusted EBITDA of $1.25 to $1.30 billion and Adjusted FFO per share of $2.75 to $3.00.”
“Lineage expects full-year 2026 adjusted EBITDA of $1.25 to $1.30 billion and Adjusted FFO per share of $2.75 to $3.00.”
Breaks if: dividend per share falls below $0.53 in FY26
Breaks if: revenue growth falls below 2% YoY next year
In the next 1 to 3 years, LINE's trajectory will depend on its execution against management priorities and external market conditions. Not investment advice.