Americold Realty Trust (NYSE:COLD) Hits New 1-Year Low - Here's What Happened

Key Points

• Americold Realty Trust (NYSE:COLD) reached a new 1-year low trading at $12.44, with significant trading volume of nearly 11.8 million shares.
• Several research firms lowered their price targets for Americold, with a consensus price target of $19.50 and ratings varying from "buy" to "sell."
• The company announced a quarterly dividend of $0.23, resulting in an annualized yield of 7.3%, despite a negative dividend payout ratio.

Shares of Americold Realty Trust Inc. (NYSE:COLD - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $12.44 and last traded at $12.64, with a volume of 11799880 shares changing hands. The stock had previously closed at $12.82.

Analysts Set New Price Targets

Several research firms have recently issued reports on COLD. BNP Paribas Exane lowered Americold Realty Trust from an "outperform" rating to a "neutral" rating and set a $18.00 target price for the company. in a report on Thursday, June 12th. Truist Financial reduced their target price on Americold Realty Trust from $24.00 to $20.00 and set a "buy" rating for the company in a report on Friday, August 22nd. Wells Fargo & Company reduced their price objective on Americold Realty Trust from $18.00 to $15.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. KeyCorp reduced their price objective on Americold Realty Trust from $30.00 to $23.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. Finally, Royal Bank Of Canada reduced their price objective on Americold Realty Trust from $25.00 to $19.00 and set an "outperform" rating for the company in a report on Monday, August 18th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $19.50.

Americold Realty Trust Trading Down 1.4%

The stock has a market cap of $3.60 billion, a PE ratio of -66.52, a P/E/G ratio of 4.02 and a beta of 0.84. The firm has a 50-day simple moving average of $14.82 and a 200-day simple moving average of $17.25. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.13.

Americold Realty Trust (NYSE:COLD - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. Americold Realty Trust had a negative return on equity of 1.68% and a negative net margin of 2.09%.The firm had revenue of $650.75 million for the quarter, compared to the consensus estimate of $644.95 million. During the same quarter in the prior year, the business posted $0.38 earnings per share. The business's quarterly revenue was down 1.5% on a year-over-year basis. Equities analysts forecast that Americold Realty Trust Inc. will post 1.47 earnings per share for the current year.

Americold Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date is Tuesday, September 30th. Americold Realty Trust's dividend payout ratio (DPR) is -484.21%.

Institutional Investors Weigh In On Americold Realty Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Entropy Technologies LP purchased a new stake in shares of Americold Realty Trust in the first quarter worth $494,000. Vision Capital Corp raised its position in shares of Americold Realty Trust by 3.6% in the first quarter. Vision Capital Corp now owns 1,237,320 shares of the company's stock worth $26,553,000 after buying an additional 42,600 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Americold Realty Trust by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,229,542 shares of the company's stock worth $90,766,000 after buying an additional 73,856 shares in the last quarter. Earnest Partners LLC raised its position in shares of Americold Realty Trust by 2.8% in the first quarter. Earnest Partners LLC now owns 2,595,058 shares of the company's stock worth $55,690,000 after buying an additional 71,069 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC increased its stake in Americold Realty Trust by 14.8% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,786,323 shares of the company's stock valued at $59,794,000 after acquiring an additional 358,694 shares during the last quarter. Hedge funds and other institutional investors own 98.14% of the company's stock.

About Americold Realty Trust

Americold Realty Trust, Inc is a real estate investment trust, which focuses on the ownership, operation, development, and acquisition of temperature-controlled warehouses. It operates through the following segments: Warehouse, Third-Party Managed, Transportation, and Other. The Warehouse segment collects rent and storage fees from customers to store frozen and perishable food and other products within the firm's real estate portfolio.

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