Lineage Inc. (formerly Lineage Logistics) (LINE 3.65%) is the world's largest temperature-controlled warehouse operator. The real estate investment trust (REIT) owns roughly 485 warehouses with about 3 billion cubic feet of storage in 19 countries. Cold storage warehouses are critical infrastructure to support the food supply chain.
The logistics giant is relatively new to the public markets, completing its initial public offering (IPO) in July 2024. The REIT raised $4.4 billion at an implied market value of $18 billion, making it the biggest IPO of the year and the largest real estate IPO of all time.
IPO
The industrial REIT has grown significantly over the years. It started with one warehouse in late 2008 and has made more than 100 acquisitions over the years to build the world's top player in cold storage. Despite already being the top dog in the industry, Lineage Inc. has significant growth opportunities ahead.
That growth potential makes it an intriguing investment opportunity. Here's how to invest in Lineage Inc. and other key players in the logistics real estate sector.
Publicly traded?
Is Lineage Inc. publicly traded?
Yes, Lineage Inc. is a publicly traded company. The world's leading temperature-controlled warehouse REIT put its IPO on the calendar in 2024 and completed it in July 2024.
It sold 57 million shares at $78 apiece, which was near the top end of its range, valuing the company at more than $18 billion. It was the biggest IPO since Arm Holdings (ARM 0.31%) raised $4.8 billion in September 2023.
How to buy
How to buy Lineage Inc. stock
Now that Lineage Inc. is a publicly traded company, anyone can buy its stock. It trades on the Nasdaq Stock Exchange under the stock ticker LINE.
- Open your brokerage account: Log in to your brokerage account where you handle your investments.
- Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
- Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
- Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
- Submit your order: Confirm the details and submit your buy order.
- Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.
In addition to Lineage Inc., there are many other ways to invest in logistics real estate. Here are three alternative investment options in the sector to consider, along with Lineage Inc.:
1. Americold Realty Trust
Americold Realty Trust (COLD 4.67%) was the first publicly traded REIT in the temperature-controlled supply chain sector. It's the second-largest player (globally and in the U.S.) behind Lineage Logistics, with almost 230 facilities and 1.4 billion cubic feet of space. Like Lineage, Americold has been a consolidator in the sector, routinely gobbling up smaller players to enhance its size and scale.
2. W. P. Carey
W. P. Carey (WPC 1.05%) is a diversified REIT with investments in warehouse, industrial, retail, self-storage, and other property sectors. The company owns over 1,600 net lease properties and 66 operated self-storage properties.
The REIT focuses on owning operationally critical real estate that generates stable rental income. W. P. Carey routinely acquires income-producing properties, with its focus in recent years on industrial and warehouse properties.
3. Prologis
Prologis (PLD 0.81%) is the leading logistics REIT. The company owns more than 6,000 warehouse buildings (non-cold storage) with about 1.2 billion square feet of space across North and South America, Europe, and Asia.
Prologis has built up a massive land bank to continue expanding its portfolio, including building new warehouses and selectively developing data centers. The company also routinely acquires properties and other REITs to grow its global logistics property empire.
You can invest in all of the mentioned REITs by following the steps in the previous section.
Profitability
Is Lineage Inc. profitable?
It's important to analyze a company's profitability before buying shares. Profit growth tends to be the primary driver of a stock's performance over the long term. With that in mind, here's a look at Lineage Inc.'s profitability.
The leading temperature-controlled warehouse REIT delivered its first quarterly earnings report as a public company in November 2024. The report showed that Lineage Inc. is profitable. As of 2025, the Q2 report showed that Lineage Inc. has started to operate at a small loss of roughly $6 million.
It should be noted that generally accepted accounting principles (GAAP) metrics like net income aren't the best way to measure a REIT's profitability. Rather, the best metric is adjusted funds from operations (FFO), a non-GAAP metric that measures the cash flows a REIT produces in a period. In Q2 2025, Lineage Inc. reported $211 million of adjusted FFO, or $0.80 per share, up 55.1% and 8%, respectively.
Funds from Operations (FFO)
Dividends
Does Lineage Inc. pay a dividend?
Lineage Inc.'s strong profitability right out of the gates enabled the company to initiate a quarterly dividend. As of 2025, it makes a dividend payment of $0.53 per share at a net yield of 5.28%. With its dividend payment comfortably below its adjusted FFO, Lineage Inc. retains plenty of cash to fund new investments.
The REIT should continue to grow. During the third quarter, it opened a new, fully automated cold storage warehouse in Hazleton, Pennsylvania. It also acquired ColdPoint Logistics for $223 million in November 2024, expanding its strategic presence in the Kansas City market.
Should I invest?
Should I invest in Lineage Logistics?
Investing is a personal endeavor. Not every stock is right for all investors. With that in mind, here are some reasons you might want to invest in Lineage Inc.
- You believe investing in Lineage Inc. would help diversify your portfolio by adding real estate and a company with exposure to the food supply chain sector.
- You want to invest in companies that pay dividends.
- You think Lineage Inc. can grow its profits at an above-average rate in the future.
- You want to invest in a profitable company.
- You want to invest in companies with a strong balance sheet.
On the other hand, here are some reasons you might decide Lineage Inc. isn't right for you:
- You don't understand Lineage Inc.'s business model or how it makes money.
- You already own several REITs, including those with exposure to the cold storage sector.
- You don't want to invest in dividend-paying stocks.
- You'd prefer to invest in companies with much higher growth potential.
ETF options
ETFs with exposure to Lineage Inc.
As a relative newcomer to the public markets, Lineage Inc. has made it into exchange-traded funds (ETFs) as of 2025, with 62 ETFs holding the stock. Currently, the biggest holder of Lineage Inc. is the Vanguard Real Estate ETF (VNQ 0.42%) with 2.97 million shares in its portfolio.
Exchange-Traded Fund (ETF)
On the other hand, if Lineage Inc. or Vanguard Real Estate ETF doesn't quite fit into your portfolio, there are lots of ways to passively invest in the REIT sector via ETFs. Here are other top REIT ETFs to consider:
- Schwab U.S. REIT ETF (SCHH 0.42%): This ETF exclusively invests in equity REITs (it excludes mortgage REITs and hybrid REITs). It had 124 holdings in 2025, led by Prologis at 7.75% of its net assets. The ETF had a low 0.07% expense ratio.
- Real Estate Select SPDR Fund (XLRE 0.43%): This ETF focuses on holding real estate companies in the S&P 500. As of 2025, the fund had 33 holdings, led by Prologis (9.6% of its net assets). The fund had a low 0.08% expense ratio.
Related investing topics
The bottom line on Lineage Inc.
Lineage Inc. completed the biggest IPO of 2024 and the largest public offering ever in the real estate sector. While it's already the global leader in operating temperature-controlled warehouses, the REIT plans to grow even bigger by continuing to consolidate the industry and invest in building new cold storage facilities. Those investments should help grow its profitability, increasing shareholder value over the long term.
FAQ
Investing in Lineage Inc. FAQ
Will Lineage Inc. go public?
Lineage Inc. went public in July 2024. The REIT raised $4.4 billion in the largest IPO of 2024 and the biggest-ever IPO in the real estate sector.
Is Lineage Inc. a good investment?
No single investment is good for everyone, but Lineage Inc. could be a good one. The company is a global leader in the temperature-controlled warehouse sector, which is crucial to the food supply industry. It's also profitable and has a strong balance sheet.
Those features position it well to grow its portfolio and profits in the future. The REIT anticipates that its current portfolio will grow its income as it raises rents and utilizes more of its existing capacity.
Meanwhile, Lineage Inc. expects to invest capital in development projects and accretive acquisitions to drive additional income growth. That growing income should enable the cold storage operator to increase its dividend. Growing profitability and dividend payments have historically helped support above-average investment returns over the long term.
Is Lineage Inc. publicly traded?
Yes, Lineage Inc. is a publicly traded company. The leading temperature-controlled warehouse operator went public in July 2024. It trades on the Nasdaq Stock Exchange under the stock ticker LINE.
