Michigan-Based Logistics REIT Lineage Files For IPO, Seeks $30B Valuation (UPDATED)
Portfolio Pulse from Hayden Buckfire
Lineage Inc., a Michigan-based logistics REIT specializing in temperature-controlled storage, has filed for an IPO seeking a $30 billion valuation. The company, which operates 482 warehouses, reported $5.3 billion in revenue and a net loss of $96.2 million in 2023. The IPO will be advised by KKR & Co. The Real Estate Select Sector SPDR Fund (XLRE) and Americold Realty Trust (COLD) are also mentioned in the context of the real estate market's performance.
June 27, 2024 | 2:43 pm
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POSITIVE IMPACT
KKR & Co. is advising Lineage Inc. on its IPO, which could enhance KKR's reputation and lead to increased business opportunities.
Advising a high-profile IPO like Lineage's could enhance KKR's reputation in the financial advisory space, potentially leading to more business opportunities and a positive short-term impact on its stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Americold Realty Trust, a major competitor to Lineage Inc., may see increased investor interest or scrutiny as Lineage enters the public market.
As Lineage Inc. enters the public market, investors may compare it directly with Americold Realty Trust, potentially affecting COLD's stock price. However, the exact impact is uncertain until more details about the IPO are released.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The Real Estate Select Sector SPDR Fund (XLRE) has underperformed in 2024, and the entry of Lineage Inc. into the public market may not significantly alter this trend.
While Lineage Inc.'s IPO is a notable event in the real estate sector, it is unlikely to significantly impact the overall performance of the Real Estate Select Sector SPDR Fund (XLRE), which has been underperforming in 2024.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 30