Lineage Investors Seek Signs of Growth From Earnings After Rout

Lineage Inc. investors seeking returns from last year’s biggest initial public offering are anxiously awaiting its earnings report Wednesday.

Shares of the cold-storage real estate investment trust have tumbled 30% since it went public last July as Wall Street continues to wait for management to make good on its promises. By contrast, Lineage has underperformed its industrial REIT peers, with the S&P Composite 1500 Equity REITs index gaining 3.5% in that same period.

“We think one of the main reasons Lineage has sold off since the premium-priced IPO is because all the likely investors were hoovered up, so incremental buyers ...